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Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
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 Tribunal held that an incomplete document recovered from an employee's laptop could not justify an addition under Section 69 w...
Income Tax : The ITAT held that once registration under Section 12AB was ultimately granted on the basis of the original application, the doctr...
Income Tax : The ITAT Chennai ruled that funds received by a Chartered Accountant for remitting clients' taxes could not be treated as unexplai...
Income Tax : ITAT Mumbai held that appellate forums can entertain additional claims even without a revised return. The matter was remanded to t...
Income Tax : The Telangana High Court held that recovery proceedings under Section 226(3) cannot automatically extend to a daughter's bank acco...
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...
Explore the differences between legal tax avoidance and illegal tax evasion in India. Understand common methods, legal provisions, and penalties for each under Indian tax laws.
Understand ESOPs, their accounting treatment, and tax implications for employees in India. Learn about perquisite taxation and capital gains on share sales.
India’s Income Tax Department initiates nationwide verification against bogus deduction and exemption claims, warning taxpayers of penalties and prosecution.
Key compliance requirements for foreign companies establishing Indian subsidiaries, covering resident directors, RBI filings, board meetings, tax implications, Permanent Establishment analysis, and transfer pricing.
Learn how to reconcile mismatches between Form 26AS and AIS for AY 2025-26. Avoid defective returns and scrutiny with a step-by-step correction process.
Income Tax Department’s crackdown on fraudulent tax claims reveals misuse of deductions and exemptions under various sections. Learn more about ongoing investigations and actions taken to ensure tax compliance.
ITAT Nagpur held that addition on account of LTCG in the hands of firm not justified as property is belonged to the partner in his individual capacity and didn’t belonged to the firm. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
ITAT Mumbai held that addition under section 68 of the Income Tax Act cannot be sustained as assessee disclosed the source of credits. It is also held that assessee has also disclosed source of source and hence addition cannot be sustained. Accordingly, appeal allowed.
ITAT Rajkot’s affirmed that interest from depositing surplus funds with nationalized/ private banks is not deductible under Section 80P(2)(a)(i) as it is not integral to business of providing credit to members.
ITAT Surat rules Bardoli Vibhag Gram Vikas Co-op Credit Society’s interest from co-operative banks is eligible for Section 80P(2)(d) deduction, overturning PCIT.
