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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...
Explore the intricacies of salary structures and income tax implications in this comprehensive guide. A valuable resource for HR and IT professionals, offering insights into tax exemptions, CTC calculations, and the impact of new wage codes.
ITAT Jaipur rules in favor of Shri Deepak Mata, deleting penalties under Sections 271E and 271D for loan transactions below Rs.20,000 threshold.
CIT(E)’s order is also a non-speaking one to this extent we deem it appropriate to restore the assessee’s substantive grievance back to the very authority for appropriate adjudication as per law
Filing of Form No. 67 under Rules 128 of Income Tax Rules is a procedural requirement, therefore, is a directory in nature, non-compliance thereof does not disentitled assessee in claiming Foreign Tax Credit (FTC)
If in the initial year of claim the depreciation, is allowed, the claim cannot be disturbed in the subsequent years
Assessee should be allowed benefit of deduction under section 54B of Act since purchase in new property has been made out of advances received towards sale of agricultural properties held by assessee.
CESTAT Ahmedabad rules MPC Gymkhana not liable for service tax on short-term accommodation charges, following Supreme Court’s CALCUTTA CLUB LTD. judgment.
ITAT Chennai rules in favor of First STP Pvt. Ltd., restoring matters to CIT(A) and AO for fresh adjudication due to missed opportunities and severe stress.
ITAT held that assessment order is bad in law as assessing authority passed order u/s 143(3) without issuing mandatory notice u/s 143(2)
Assessee must be informed of grounds of penalty proceedings through statutory notice and an omnibus notice suffers from vice of vagueness
