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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...
Uncover the implications of Section 43B(h) under the Income Tax Act, 1961, effective from FY 2023-24. Dive into the analysis, responsibilities on auditors, and the impact on sundry creditors. Stay informed for seamless financial compliance.
Understand Section 206C(1F) for TCS on motor vehicle sales exceeding INR 10 lakhs. Decode implications, exemptions, and key insights with illustrative examples.
Explore the unique nature of litigations in income tax, distinct from other legal domains. Delve into the dual role of executive and judiciary, ensuring a balanced and specialized approach. Uncover the historical effectiveness of this system in addressing complexities in income tax laws.
Download Automatic Income Tax Calculator in Excel Format for Financial Year 2023-24 (AY 24-25) for salaried employees of government & private sector.
ITAT Bangalore held that as software is procured from somewhere else and allotted to ground companies including the assesse, such cost allocated without any markup is reimbursement of expense and the same is not liable for TDS under section 195 of the Income Tax Act.
Bombay High Court held that present case is not a case of lack of enquiry, however, it can be a case of inadequate enquiry. Accordingly, inadequacy of enquiry does not give jurisdiction to the CIT to invoke provisions of Section 263 prior to the insertion of Explanation 2.
ITAT Surat held that issues raised by PCIT in his order u/s 263 are already examined by AO and AO passed the assessment order after calling for all the details and considering the reply/ documents. Accordingly, assessment order passed after due application of mind cannot be termed as erroneous and prejudicial to the interest of the revenue.
ITAT Bangalore held that that the payment made by GIPL (Google India Pvt. Ltd.) to GIL (Google Ireland Limited) is not in the nature of Royalty or FTS under the Act. Accordingly, TDS under section 195 of the Income Tax Act not deductible.
Allahabad High Court held that when public servant himself makes a demand and demand is accepted by bribe giver and bribe is paid by the bribe giver, it is a case of obtainment under Section 13(1)(d)(i) and 13(1)(d)(ii) of the Prevention of Corruption Act, 1988.
Explore the taxability of Business Trusts (REIT/InvIT) in India, amended as per Budget 2023. Understand the structure, flows of income, taxation at different levels, and implications for sponsors, SPVs, business trusts, and investors.
