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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
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 dispute concerned whether dividend received on capital reduction by a foreign subsidiary could trigger restrictions under Sect...
Income Tax : The ITAT Pune held that a genuine claim for exemption under Section 10(20) cannot be rejected merely because the assessee mistaken...
Income Tax : The ITAT Mumbai held that when the reason recorded for reopening an assessment does not ultimately result in any addition, the Ass...
Income Tax : The Mumbai ITAT held that an addition under Section 68 cannot be made solely on the basis of a retracted statement alleging accomm...
Income Tax : The Mumbai ITAT held that Section 263 cannot be invoked merely because the Assessing Officer accepted income without making an add...
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...
Under Section 147 of the Income Tax Act, reassessment cannot be based on a mere change of opinion by the AO. Read more on this legal limitation.
In the matter above-mentioned ITAT resored the matter to CIT (A) who did not provide opportunity of being heard by way of video conferencing despite request.
It was argued on behalf of the assessee that the action of AO amounts to a double addition as the claiming of Capital Gains was accurately tendered in the Return of Income.
ITAT Delhi clarifies tax treatment for Motricity India: No levy on notional income or closure costs. Insights on Transfer Pricing adjustments and ALP determination.
Double taxation of dividends burdens investors, deterring equity investments. Budget 2025 may reform rates to enhance economic efficiency and attract investment.
Learn about updated returns under Section 139(8A) of the Income Tax Act, including eligibility criteria, restrictions, and conditions for furnishing updated returns.
India’s gross direct tax collection for FY 2024-25 grew by 19.94% as of January 12, 2025, with net collections increasing by 15.88% over FY 2023-24.
Insights from India’s APA Programme Annual Report 2023-24, highlighting tax certainty, record signings, and benefits for multinationals in easing cross-border transactions.
Understand the process of search & seizure under the Income Tax Act, including taxpayer rights, obligations, and key legal precedents. Learn about surveys and evidentiary rules.
Reliance was placed on decision of the Hon’ble Delhi High Court in the case of CIT vs. Ritu Anurag Agarwal reported in ITA No. 325/2008 and it was argued that no addition u/s 68 could be made on account of trade creditors when the books of accounts have not been rejected.
