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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...
Finance Bill 2025 raises the TDS threshold for commission on lottery ticket sales under Section 194G from ₹15,000 to ₹20,000, effective April 1, 2025.
Section 194D now increases the threshold for tax deduction on insurance commissions from Rs. 15,000 to Rs. 20,000, effective from April 2025.
Section 194BB amendment to apply TDS on horse race winnings exceeding Rs. 10,000 in a single transaction, effective from April 2025.
Section 194B amendment to apply TDS on lottery, gambling winnings over Rs. 10,000 in a single transaction, effective from April 2025.
Amendments to Section 194A of the Income-tax Act increase TDS thresholds on interest income for various payers and senior citizens, effective April 1, 2025.
Section 194 now exempts tax deduction on dividends to individuals if the total annual dividend does not exceed Rs. 10,000, effective April 2025.
Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective April 1, 2025.
The Finance Bill, 2025 proposes reducing TDS under Section 194LBC from 25-30% to 10% for income from securitisation trusts, effective April 1, 2025.
Section 115AD is amended to raise long-term capital gains tax rate for non-residents to 12.5% from 10%, effective from April 1, 2026.
Section 80-IAC is amended to extend 100% profit deduction for eligible start-ups incorporated until April 1, 2030, effective from April 1, 2025.
