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Income Tax : The revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...
Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...
Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...
Income Tax : This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section ...
Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
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 Delhi ITAT sustained the addition arising from the sale of listed shares after finding discrepancies in purchase records, incl...
Income Tax : ITAT Lucknow held that derivative losses incurred by a spouse using funds gifted by the assessee can be clubbed and set off under ...
Income Tax : While recognising that earlier judgments had invalidated JAO-issued notices, the Court avoided passing orders that would make the ...
Income Tax : The Delhi ITAT held that where purchases are reflected in accepted sales and closing stock, the entire purchase amount cannot be d...
Income Tax : The Delhi ITAT held that repeated non-compliance with statutory notices transformed the reassessment into a best judgment assessme...
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...
ITAT Mumbai held that market development expenses towards sale of product is revenue in nature hence denial of same is unsustainable. Accordingly, market development expenses being revenue expenditure is allowed as deduction.
Karnataka High Court held that Assessment Order and other proceedings taken up against the deceased are all null & void. Also held that proceedings initiated against deceased person by issuing notice after demise cannot be continued against the legal representative.
Explore key Budget 2025 changes in income tax, GST, and MSMEs, including new tax slabs, TDS changes, and more.
Learn how the Marginal Relief provision in the Union Budget 2025 helps taxpayers avoid high tax payments for small income increases.
Learn about the amendments to Section 92CA concerning references to the Transfer Pricing Officer for determining arm’s length pricing in international and domestic transactions.
Rajasthan High Court quashes penalty proceedings under Section 271E of Income Tax Act citing lack of satisfaction recording in reassessment orders.
Gujarat High Court examines Sarvodaya Charitable Trust’s appeal against IT department’s refusal to condone Form 10B filing delay for AY 2016-17. Read key takeaways.
ITAT Kolkata condones delay in Form-10B filing for Manav Seva Trust, allowing exemption under Section 12A of the Income Tax Act. Case remanded to AO.
Bombay High Court condones Jain Swetamber Trust’s delay in filing Form 10 for AY 2019-20, citing an auditor’s oversight as a reasonable explanation.
Budget 2025 introduces new income tax slabs, deductions, and extensions, including updates on TDS, rebates, and presumptive schemes for NRIs.
