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Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...
Income Tax : This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exem...
Income Tax : This article explains why ELSS redemption gains are taxable despite offering tax deductions at the time of investment. It highligh...
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 : 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 Delhi held that cash deposits arising from recorded and accepted cash sales cannot be added as unexplained cash credits under...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures cannot be equated with call options and that no option premium arose fro...
Income Tax : ITAT Bangalore held that RBI's classification of compulsorily convertible debentures as equity for FDI purposes cannot determine t...
Income Tax : ITAT Delhi held that no disallowance under Rule 8D(2)(ii) could be made where investments yielding exempt income were financed fro...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures retain their character as debt until conversion into equity. It deleted ...
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 Bangalore held that legal and professional charges being incurred towards business are allowable as revenue expenditure.
ITAT Delhi held that interest receipt under Technology Upgradation Fund Scheme (TUFS Scheme) being capital in nature needs to be excluded while working out the book profits under section 115JB of the Income Tax Act.
Act now! The last date to link Aadhaar with PAN is 30th June 2023. Ensure seamless income tax compliance, avoid penalties, and maintain access to government services. Follow our step-by-step guide for hassle-free Aadhaar-PAN linkage.
Learn about the Foreign Account Tax Compliance Act (FATCA) non-tax treaty between India and the United States, its implications on reporting foreign assets, and taxation of investments in India by US tax residents. Understand the complexities of FATCA regulations and the need for expert advice.
Demystify Income Tax Notices: Learn about various types, meanings, and effective responses. Explore notices under Section 143(1), scrutiny assessments, best judgment assessments, reassessment, demands, and surveys. Stay informed on recent tax laws to navigate the process seamlessly.
ITAT Delhi’s verdict in the case of Gawar Constructions Co. Vs DCIT, illuminating the importance of clear particulars in the imposition of tax penalties. Understand how discrepancies between the initial ‘satisfaction’ and the grounds for penalty can lead to quashing of penalty orders.
ITAT Delhi’s decision in case of Sumita Devi Vs ITO, showcasing how chronic health conditions can impact filing of appeals and lead to ex parte orders.
ITAT Surat’s in case of Nileshkumar Chhaganbhai Vasoya Vs ITO, held that legal illiteracy of a common man is not an excuse for delay in filing appeal
In a recent judgment, the Delhi High Court set aside the order and notice issued under Section 148A(d) and 148, respectively, in the case of Premium Estates Pvt. Ltd. vs. ACIT. The court directed the Assessing Officer to conduct a de novo assessment after the petitioner received the notice on the same day as the order.
Delhi High Court held that when two contradictory final outcomes is delivered vide two different orders, the reasoned outcome based on analysis of material prevails over outcome without an iota of reason.
