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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
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 : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
The case examined whether delayed employee contributions could be disallowed under Section 143(1). The Tribunal held such adjustments invalid on debatable issues and ordered deletion of the addition.
The case involved disallowance of employee contributions during return processing. The Tribunal held that such debatable issues cannot be adjusted under Section 143(1) and deleted the addition.
The case involved disallowance of employee contributions during return processing. The Tribunal held such adjustments invalid on debatable issues and directed deletion of additions.
The Tribunal held that unsigned sanction for reopening invalidates the entire reassessment. It ruled that absence of signature violates mandatory legal requirements under tax law.
The updated law clarifies how stay duration and income thresholds determine tax residency status. It holds that only crossing the 182-day limit leads to global taxation, while RNOR status protects foreign income.
The new law reorganizes provisions and reduces complexity without changing tax policies, ensuring easier compliance and continuity for taxpayers.
The removal of the provision means companies and investors are no longer taxed on share premiums exceeding fair market value, creating a major policy shift.
The new tax law confirms that all pending appeals and proceedings will continue under the old Act, ensuring taxpayers do not restart litigation after 1 April 2026.
Explains the requirement for daily backups of electronic accounting records on India-based servers from 2026. Highlights compliance duties for businesses using cloud accounting systems and penalties for violations.
The relocation did not lead to structural enhancement of business assets. The Tribunal ruled that such expenses remain in the revenue field. The decision distinguishes between operational and capital expenditure.
