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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 : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
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 : 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 : The Court held that the assessee failed to produce any written or registered document proving transfer of property to the firm. Co...
Income Tax : ITAT Mumbai upheld the CIT(A)'s directions to verify fund flow, bank statements, and lenders' creditworthiness before making addit...
Income Tax : ITAT Chennai held that estimating income at 8% of turnover was excessive where the assessee's accounts were tax-audited and past p...
Income Tax : The Tribunal restored the matter to the Assessing Officer after finding that transfer pricing adjustments may have been added twic...
Income Tax : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
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 Tribunal applied long-standing rulings invalidating the intensity and BLT approaches for AMP benchmarking, deleting both substantive and protective adjustments. The decision underscores that such methods lack statutory support.
The ITAT Chandigarh ruled that a co-purchaser of property is not liable to deduct TDS under Section 194-IA if their individual share is below ₹50 lakh, even if total consideration exceeds the limit. The Tribunal quashed both AO and CIT(A) orders.
The Tribunal held that use of surplus for land purchase in the society’s name reflects genuine educational intent. It rejected the view that recurring surplus amounts to profit motive and found the earlier inquiry incomplete. The application under Section 10(23C)(vi) was remanded for proper evaluation.
ITAT Chandigarh ruled that CAD software with a short lifecycle and frequent upgrades qualifies as revenue expenditure, enabling full Section 80IC deduction. AO and CIT(A) orders were set aside.
Understand PAN requirements, mandatory transactions, application rules, Aadhaar linkage, penalties, and correction procedures. A detailed guide on compliance and essential PAN-related provisions.
AIS provides taxpayers with consolidated financial and tax information for accurate return filing. It includes TDS, SFT, GST data, remittances, proceedings, and more, accessible through the e-filing portal.
New CBDT guidelines from 17-10-2024 revise procedures, eligibility, and charges for compounding income-tax offences. Covers filing rules, defect correction, repeat offence charges, and cases needing higher approval.
Summary of Section 40A disallowances, including payments to related parties, cash payments, gratuity provisions, non-statutory fund contributions, and marked-to-market losses under tax rules.
Understand the purpose, structure, due dates, and download process for Form 16 and Form 16A TDS certificates. Learn key requirements, penalties, and compliance rules under the Income-tax Act.
The Tribunal held that the DRP erred in refusing to consider the USAID–AE agreement, which directly established the back-to-back cost-plus-6% model. It ruled that such crucial evidence cannot be dismissed on a procedural technicality and remanded the matter for fresh adjudication.
