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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
The Tribunal held that documents relating to the assessee were found during the search of another person. It ruled that proceedings could only be initiated under Section 153C, making the reassessment under Section 148 invalid.
The ITAT held that once an assessment order under Section 143(3) was passed, the earlier intimation under Section 143(1) merged into it. As a result, the appeal against the intimation became infructuous.
The ITAT held that exemption under Sections 11 and 12 could not be denied merely due to issues relating to filing of Form No. 10. The Assessing Officer was directed to grant relief in accordance with law.
The ITAT held that exemption under Sections 11 and 12 could not be denied solely due to delayed filing of Form 10B. The matter was remanded for verification and grant of eligible exemption.
The Gujarat High Court upheld reopening of assessment after the Assessing Officer received information linking the assessee to alleged accommodation entries. The Court held that such information constituted tangible material sufficient to form a belief that income had escaped assessment.
The Gujarat High Court upheld reopening of assessment based on information received from the Kolkata Investigation Wing regarding alleged shell companies. The Court held that such information provided tangible material for forming a belief that income had escaped assessment.
The case concerned reopening of completed income tax assessments based on information received from DRI and Central Excise authorities. The Delhi High Court held that such information constituted tangible material sufficient to justify reassessment proceedings.
The article explains how home loan interest and principal repayments can reduce tax liability under the old tax regime. It also highlights why the new regime may limit these benefits for many borrowers.
Focusing solely on the federal corporate tax rate can lead to major compliance surprises. Businesses entering the US must also navigate complex state and local tax obligations that vary widely by jurisdiction.
CBDT has instructed tax officers to uniformly apply Sections 68 to 69D and Section 115BBE after a C&AG audit found inconsistencies in assessments and incorrect tax computations leading to revenue loss.
