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Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : The High Court held that failure to pass the order giving effect within the time prescribed under Section 153 resulted in abatemen...
Income Tax : The Madras High Court held that unexplained trade credits falling under Section 68 cannot qualify for deduction under Section 80-I...
Income Tax : The Tribunal restricted the Section 14A disallowance to exempt income and deleted additions relating to bad debts, tea and coffee ...
Income Tax : The ITAT held that the CPC could not make adjustments under Section 143(1) without first issuing the mandatory intimation to the a...
Income Tax : The ITAT Mumbai held that Fees for Technical Services were taxable at 10% under section 115A(1)(b) since the RBI's automatic appro...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Circular No. 795-Income Tax Under the existing provisions of clause (v) of the first proviso to sub-section (1) of section 139, a person not furnishing return under sub-section (1) and residing in specified areas and at any time during the previous year being the holder of a credit card, not being an add-on card, issued by any bank or institution, is required to furnish a return of his income during the previous year on or before the due date specified in the provision.
Notification No. 11469-Income Tax In the notification of the Government of India, in the Ministry of Finance (Department of Revenue) (Foreign Tax Division), number S.O. 650 (E), dated the 10th July, 2000, published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), dated the 10th July, 2000 [published at (2000) 161 CTR (St) 63]
Notification No. 775(E)-Income Tax In exercise of the powers conferred under sub-section (1A) of section 139A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies following class or classes of persons, who shall apply to the Assessing Officer for the allotment of a permanent account number
Notification No. 11465-Income Tax In the notification of the Government of India, Ministry of Finance, Department of Revenue, No. G. S. R. 542(E), dated 16th June, 2000, published in Gazette of India, Extry., Part II, section 3, sub-section (i), dated 16th June, 2000, at page 50, in line 12 for “paragraph 2(f)” read “paragraph 2(g)”.
Notification No 11461-Income Tax Whereas the Convention between the Government of the Republic of India and the Government of Japan for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income has come into force on the 29th Dec., 1989 after the exchange of instruments of ratification as required by paragraph 1 of Article 28 of the said Convention and the said convention has been notified in G.S.R. 101(E) dt. 1st March, 1990
Notification No 753(E)-Income Tax Whereas the Convention between the Government of the Republic of India and the Government of Japan for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income has come into force on 29th December, 1989, after the exchange of instruments of ratification as required by paragraph 1 of article
Circular No.749 – Income Tax Under the existing provisions of the Income-tax Act, agricultural income is not included in computing the total income as per the provisions of clause 1 of section 10 of the Income-tax Act. The term ‘agricultural income’ has been defined in sub-section (1A) of section 2 of the Income-tax Act. The provisions of clause ( c) of this sub-section, include within the definition of agricultural income
Law is settled- If a business liability has definitely arisen in the accounting year, the deduction should be allowed although the liability may have to be quantified and discharged at a future date. What should be certain is the incurring of the liability. It should also be capable of being estimated with reasonable certainty though the actual quantification may not be possible
Notification No. 744(E)-Income Tax In exercise of the powers conferred by sub-clause (iii) of clause (17) of section 10 of the Income-tax Act, 1961 (43 of 1961), and in supersession of the notifications of the Government of India in the Ministry of Finance (Department of Revenue) No. S. O. 695(E), dated 3rd October, 1997, the Central Government hereby specifies
Notification No. 725(E)-Income Tax In exercise of the powers conferred by sub-clause (iii) of clause (b) of section 245N of the Income-tax Act, 1961 (43 of 1961), and in supersession of Notification No. S.O. 473(E), dated 21st June, 1999, the Central Government hereby specifies public sector company as defined in clause (36A) of section 2 of the Income-tax Act being such
