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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...
Reassessment invalid for borrowed satisfaction, reasons to believe not adverting to the failure on the part of the petitioner to disclose truly and fairly all material facts, and also the change of opinion.
Karnataka High Court invalidates income tax assessment order citing incorrect email notices. Details of Sterling Urban Ventures Pvt Ltd Vs Assessment Unit case.
Final Assessment Order lacked jurisdiction, as it was issued without providing the petitioner with a draft Assessment Order under Section 144B(1)(xvi).
ITAT Delhi rules in favor of taxpayer Simran Bagga, allowing deduction under section 54 for property registered in spouse’s name. Full text and analysis here.
Section 49(2A) of the Income Tax Actprovides specific guidelines for the capital gains tax associated with the conversion of debentures into shares.
Explore implications of Section 43B(h) in Income Tax Act after Finance Minister Nirmala Sitharaman’s Budget 2023-24. Learn about benefits and challenges of timely payments to MSMEs.
Explore Indian taxpayers’ dilemma with new tax regime, insights from assessments, and emerging trends. Understand choices, implications, and government considerations.
Explore the significance of ITR-U (Updated Return) in rectifying income tax return errors. Learn who is eligible, scenarios for filing, late fees, and more.
Explore the impact of Finance Act 2023’s Section 43B(h) on payments to Micro and Small Enterprises. Detailed analysis, key provisions, and effective dates explained.
Delhi High Court ruling on PCIT vs. Thapar Homes Ltd. emphasizes issuing notices under Section 274 before the Income Tax Act’s limitation period. Full judgment analysis.
