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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...
In this comprehensive guide, we delve deep into the nuances of Form 61A, exploring its significance, eligibility criteria, filing procedures, penalties, and more.
Delve into the taxation of mangoes in India, from exemptions for farmers to GST rates for processed products. Learn how taxes impact the beloved summer fruit.
Reassessment proceedings initiated by officers without jurisdiction and completed by different officers without recording fresh reasons are legally untenable.
Discover eligibility, conditions, exemptions, and examples under Section 54 for capital gains on the transfer of residential house property. Learn who qualifies, what’s required, and how to utilize the benefits.
Learn about the case of Skybridge Solutions Private Limited vs. DCIT (ITAT Hyderabad) regarding the final assessment order passed under Section 144C without objection against the draft assessment order. Understand the implications and key takeaways from the judgment.
Explore the benefits of private trusts as an alternative tool for succession planning, ensuring fair and transparent asset transfer while addressing taxation and legal considerations.
Learn how Fair Market Value (FMV) impacts issue price of equity shares and tax implications under Income Tax Act. Essential guide for investors and companies.
ITAT observed that reasons recorded by AO for reopening assessment did not mention name of assessee’s broker or specific details implicating assessee in fraudulent CCM transactions. Information provided did not establish a direct link between assessee and alleged tax evasion practices.
Upesi Ventures Ltd. vs. ACIT: Bombay High Court nullifies reassessment notice for AY 2015-2016. Analysis of stock details reveals no income escape. Full judgment here.
ITAT rejected the assessee’s contention of limited scrutiny, stating that the notice under section 143(2) did not specify such limitation.
