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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...
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...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
The Delhi High Court upheld that both Jurisdictional and Faceless Assessing Officers can issue reassessment notices under Section 148, dismissing claims of FAO-exclusive authority.
The CBI arrests ITAT officials and an advocate in Jaipur for bribery, seizing over Rs. 1 crore and exposing an organized network settling appeals for cash.
ITAT held that bank deposits consistent with declared fruit business turnover cannot be treated as unexplained under section 68; the addition of ₹1.29 crore was directed to be treated as genuine receipts.
ITAT held that framing reassessment without issuing a statutory 143(2) notice is invalid, quashing reassessments for a real estate company despite alleged bogus expenses.
Tribunal invalidated the reassessment because the Assessing Officer failed to obtain mandatory approval from the specified authority under Section 151(ii), rendering the Section 148 notice void.
Learn how freelancers and digital creators are taxed under Indian law, including allowable expense deductions, TDS rules, and filing tips for hassle-free compliance.
Standard deduction rises to Rs. 75,000 and Section 87A rebate threshold increases to Rs. 12 lakh, expanding zero-tax eligibility and boosting take-home pay for salaried taxpayers.
AIS and 26AS collect and consolidate data from banks, employers, brokers, and property registrars. Filing an ITR simply confirms pre-existing financial records, making unreported income easily detectable.
Telangana High Court held that sale of undertaking as a going concern falls within the definition of a slump sale as set out in Section 2(42C) of the Income Tax Act hence section 41(2) dealing with taxation of gains on sale of certain depreciable assets doesn’t apply.
The Kerala High Court held that scrutiny of exempted trust returns was correctly conducted as complete scrutiny, allowing assessment of appropriation of receipts under Section 12A.
