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Income Tax : Learn how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...
Income Tax : The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and ...
Income Tax : This article examines conflicting judicial views on whether capital gains exemption is available when a new residential house is p...
Income Tax : This guide explains how Section 43B(h) defers tax deductions where payments to Micro and Small Enterprises remain unpaid beyond th...
Income Tax : The case highlights denial of TDS credit after an incorrect TAN was reported in the income tax return, even though the correct TDS...
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 : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : ITAT Bangalore held that reassessment cannot survive where the Assessing Officer makes no addition on the very issue for which the...
Income Tax : ITAT Bangalore held that a ₹5 lakh investment could not be treated as unexplained under Section 69 where documentary evidence sh...
Income Tax : ITAT Bangalore held that a genuine claim of application of income supported by documentary evidence cannot be denied merely becaus...
Income Tax : ITAT Bangalore held that where the assessee disputed the stamp duty valuation and furnished a registered valuer's report, the Asse...
Income Tax : ITAT Bangalore held that once a search under Section 132 was conducted, the assessment for the relevant year had to proceed under ...
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...
Learn about the Gujarat High Court’s decision in Anokhi Realty Private Limited vs ITO, where it quashed an income tax reassessment notice issued to a non-existent entity. Analysis of amalgamation’s impact on tax assessment.
Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates, and relevant judicial precedents.
In an effort to enhance tax compliance and streamline reporting processes, the Income Tax Department recently sent out an SMS to individuals, addressing concerns related to certain transactions reported in Form 60/61 for the fiscal year 2021-22. The message has sparked queries and curiosity among taxpayers. In response, the Income Tax Department has issued a […]
In Pawan Kumar Agarwal vs CIT case, ITAT Kolkata rules that concessional tax rate under section 115E is not applicable when money is deposited in Indian rupees, not foreign exchange.
ITAT clarifies: Section 80G recognition needs Trust’s 12AB registration. Unregistered trusts ineligible for 80G recognition.
ITAT held that entries in the books of accounts do not dictate tax treatment. As long as expenses were allowable under relevant sections of Income Tax Act, appellant was entitled to claim them.
Analysis of the ITAT Delhi order in Radial International vs DCIT case. ITAT directs AO to re-examine PF payment disallowance due to holiday on the due date.
Analysis of ITAT Ahmedabad’s decision in Mansha Textiles vs ITO case. ITAT allows interest deduction u/s 24(b) when income is receivable and approved.
Employer’s and employee’s contributions to PF are treated differently under the Income Tax Act. While the delay in employee’s contribution permanently negates the employer’s claim for deduction, the delay in employer’s contribution only results in the deferment of deduction under Section 43B.
Analysis of ITAT Ahmedabad’s decision in Unity Dye Chem Pvt. Ltd. vs CIT case. Penalty under section 271C not applicable if TDS non-deduction supported by Form 15G/H.
