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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 Court rejected the challenge to the search conducted under Section 132 and upheld the legality of the search proceedings. It, ...
Income Tax : The Tribunal held that the reassessment was invalid because the Income Tax Officer lacked pecuniary jurisdiction where the returne...
Income Tax : The Tribunal held that the assessment was invalid because the Assessing Officer having jurisdiction failed to issue the mandatory ...
Income Tax : The ITAT Kolkata held that the reassessment was invalid because the ACIT lacked pecuniary jurisdiction and completed the assessmen...
Income Tax : The ITAT Kolkata held that the assessments were invalid because the ACIT was not shown to have jurisdiction under CBDT Instruction...
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. 710-Income Tax Chief Commissioners and corporate assessees have been seeking clarification regarding taxability of the perquisite on shares issued to the employees at less than market price
Circular No. 711-Income Tax Section 80HHB of the Income-tax Act provides for a deduction of 50 per cent of profits derived from projects abroad, in the computation of taxable income. The incentive is subject to the condition that 50 per cent of profits derived from such projects be brought into India in convertible foreign exchange
Notification No.S.O.653(E) – Income Tax In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to seventy-five per cent. of the average rise in the Consumer Price Index for urban non-manual employees, hereby specifies the Cost Inflation Index as mentioned in column (3) of the Table below for the financial year
Notification No. 651(E)/1995 – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. S. O. 37(E), dated 14th January, 1994, namely
Notification No.S.O.650(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of Clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specified 10.5 per cent, tax-free Konkan Railway bonds of the second series bearing distinctive numbers
Notification No.S.O.649(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue) No. S. O. 38(E), dated 14th January, 1994, namely
Notification No.S.O.644(E) – Income Tax In exercise of the powers conferred by section 115K and by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
Circular No. 709-Income Tax Board’s Circular No. 697, dated 16-12-1994 states that when the challan forms with three counterfoils are used, the taxpayer may enclose with his return of income a photocopy of the foil No. 3 in compliance with the provisions of section 139(9) of the Income-tax Act, 1961
Circular No. 708-Income Tax Reference is invited to the Board’s Circular No. 644, dated 15-3-1993 (see Sl. No. 371) wherein it was clarified that the expenditure on provision of food or beverages by an employer to the low-paid employees will not be treated as entertainment expenditure within the meaning of the Explanation under section 37(2) of the Income-tax Act, 1961 even if the facility is provided in places other than the place of work provided the same is provided during the working hours and the expenditure is genuine
Notification No.S.O.636(E) – Income Tax In exercise of the powers conferred by section 295 read with section 269UC of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
