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Income Tax Department conducted search and seizure operations on a business group operating largely in North Bengal region of the State of West Bengal. The business group is controlled by a person with an active political background. Search was also conducted on his close business associate....

Revised e-Filing Helpdesk number for General Queries related to Income Tax, Rectification, Refund, Intimation and other Income Tax Processing Related Queries, e-Filing of Income Tax Return or Forms and other value added services provided through e-Filing Portal, Form 16, Tax Credit (Form 26AS) and other queries related to TDS statement, F...

The Indian Income Tax Department has recently opened the ITR-2 filing window, enabling individuals and Hindu Undivided Families (HUFs) to report their non-business income from various sources. ITR-2 holds significant relevance for taxpayers who earn income from sources such as salary, pension, house property, capital gains, or other non-b...

Appendix-I Declaration of no PE in India Declaration required u/s 9 of Income Tax Act, and for claiming relief under an agreement referred to in section 90 and 90A i.e. (for claiming the benefit of DTAA – Double Tax Avoidance Treaties) To, _____________________ _____________________ Declaration : No PE in India Sir, The Following le...

PCIT Vs Abhisar Buildwell P Ltd (Supreme Court of India) Revenue files MA in SC seeking clarification regarding applicability of judgement in the light of provisions of Section 150 of IT Act 1961 After the judgement of Supreme Court in the case of Abhisar Buildwell Pvt ltd was announced on 24th  April, 2023, the Income-tax […]...

Introduction of new TDS codes, which have almost doubled from 36 to 65 in last eight years, led to increase in total reported transaction in FY 2021-22 to 144 crore as compared to total reported transaction in FY 2015-16 of 70 crore. This has resulted in increase in number of unique deductees — almost doubled from 4.8 crore (in F.Y. 20...

Release of Direct Tax Statistics The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time. In continuation of its efforts to place more and more information in public domain, the CBDT has further released Time-Series data as updated ...

Income Tax Department commenced a Search & Seizure operation in the case of some Cooperative Banks, in the State of Karnataka, on 31.03.2023. These cooperative Banks have been found to be engaged in routing of funds of various business entities of their customers, in a manner, so as to abet them to evade their tax […]...

The Special Judge for CBI Cases, Dharwad (Karnataka) has sentenced Shri Abhishek Tripathi and Shri Alok Tiwari, both then Income Tax officials to undergo four years rigorous imprisonment with fine of Rs. 1,10,000/- each in a bribery case. CBI had registered the case against the said income Tax officials on the allegations of demanding ill...

Term Sikkimese defined in section 10(26AAA), is only for the purposes of Income-tax Act, 1961 & not for any other purpose...