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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...
ITAT Chennai held that addition towards unexplained money under section 69A of the Income Tax Act sustained as cash deposited during demonetization period cannot be said to be cash gifts received during occasion of marriage in December 2015.
Circular No. 13/2023-Income Tax: The government allows condonation of delay for filing returns of income claiming deduction u/s 80P for AYs 2018-19 to 2022-23.
Tax season is upon us, and if you are an individual earning income, you must be aware of the approaching Income Tax Return (ITR) filing due date of 31st July 2023. Filing your ITR is not only a legal obligation but also a responsible citizen’s duty to contribute to the nation’s growth. It is crucial to adhere to the deadline and ensure your tax affairs are in order to avoid penalties and unnecessary hassles.
This article compares Mutual Funds and Fixed Deposits from a tax perspective, highlighting the advantages of Mutual Funds in terms of tax efficiency and higher returns.
This article examines the tenability of levy of interest u/s 234B in cases of excess refund claimed by taxpayers under the Income Tax Act, 1961.
In the case of Smt. Aruna Tiwari Vs. PCIT, the ITAT Raipur ruled that a non-est assessment order cannot be revised by the CIT under Section 263 of the Income Tax Act.
Bombay High Court held that the amount of tax refunded to the Petitioner, including interest, is to be reduced while determining the amount of disputed tax under KVSS as the Petitioner had not disclosed and calculated tax properly.
In a tax case of Rajesh Poddar Vs ITO, the Bombay High Court set aside the order and directed re-adjudication due to failure in providing reasons for reopening the assessment.
The J&K High Court ruled that trust registration under section 12AA cannot be denied solely for generating surplus profit. Read the full judgment here.
Madras High Court sets aside the impugned Assessment order passed on short notice, just two days before the expiry of the notice period. The court rules in favor of the petitioner, citing a violation of principles of natural justice. Read the full analysis here.
