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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 Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
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 cancels ₹1 lakh penalty imposed on Sameer Mavji Patel under Section 271B for delayed tax audit report, citing reasonable cause due to survey delays.
Explore the latest tax provisions affecting mutual fund income, including recent changes in capital gains taxation and classifications under the Finance Bill 2024.
Explore legal strategies used in tax avoidance in UK, including judicial doctrines, TAARs, GAARs, DOTAS, and the role of HMRC. Learn about key regulations.
Explore the concept of transaction recharacterization in transfer pricing. Understand its rationale, benefits, and challenges in global tax systems.
Explore the complexities and solutions of taxing the digital economy, including BEPS Action-1, Pillar-1 reforms, and the challenges of digital tax administration.
Learn about the restoration of indexation benefits for Long-Term Capital Gains (LTCG) in India, including its impact on taxes for land, buildings, and more.
Explore the distinctions between business and profession, and how sales, turnover, and gross receipts are defined under the Income Tax Act for tax audit purposes.
As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared to the previous year.
Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through the verification and assessment processes.
Assessee, a resident of USA, filed his return claiming refund of Rs.58,57,820/-. During assessment year, assessee had sold two properties for consideration of Rs.1,95,00,0000/- and Rs.72,36,552/- respectively.
