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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 ITAT held that an assessee can contest a Section 143(1) adjustment in an appeal against the assessment order if the adjustment...
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 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...
Embarking on an exploration of the Black Money Act, 2015 (BMA), this article navigates through 25 crucial FAQs, unraveling the intricacies of Undisclosed Foreign Income and Assets (UFIA). From the foundational understanding of BMA’s genesis to the comprehensive constitution of seven chapters and 88 sections, we delve into the meaning of UFIA, financial interests abroad, special features, applicability, and the roles of taxpayers. Throughout, we decipher the chargeability of income tax, allowance of expenditures, and set-off losses.
Directorate of Income Tax identifies high-risk non-filer cases for AY 2020-21. Insights, actions, and step-by-step guide on the RMS Cycle-3 strategy
Directorate of Income Tax (Systems) issues a crucial communication regarding High Risk Non-filer cases for the Assessment Year 2017-18.
ITAT Mumbai held that once only comparable as chosen by DRP fails, then same loses the comparability for determining the ALP.
Process and requirements for online filing of Form 10F by non-residents without PAN. Detailed steps, relevant provisions, and document checklist provided for seamless tax compliance in India
Revised Format, Procedure and Guidelines for submission of Statement of Financial Transaction (SFT) for Mutual Fund Transactions by Registrar & Share Transfer Agent as per Notification No. 4 of 2021. Find out data field types, DQ rules & file formats mandated by CBDT.
Understand revised format, procedure & guidelines for submission of Statement of Financial Transactions for Depository Transactions. Now required to be submitted as half-yearly basis instead of quarterly. Notification No. 3 of 2021 explains changes.
Article explains diverse roles in shipping, charter types, and tax implications for operators in the maritime industry, including benefits in International Financial Services Centres.
ITAT Hyderabad ruling on CIT(A) requirements, reasons for deletion of additions, and appeal filed by Revenue against Bharat Auto Tech Private Limited.
ITAT Delhi upholds deletion of Rs. 1.75 Cr disallowance, clerical error in ITR. Full order details of ITO vs. Roshan Lal Sharma for AY 2011-12 & 2012-13.
