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Income Tax : The Income-tax Act, 2025 has officially replaced the Income-tax Act, 1961 from 1st April 2026. The new law focuses on simplified l...
Income Tax : The Income Tax Act 2025 has overhauled the 1961 law by introducing new section numbers, a unified “Tax Year,” and simplified c...
Income Tax : The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendme...
Income Tax : The ITAT Surat held that agricultural land qualifies as “immovable property” under Section 56(2)(x) since the provision covers...
Income Tax : Businesses now face stricter seller-wise tracking, PAN verification, and reconciliation obligations under TDS on purchase provisio...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The Madras High Court held that membership fees received for long-term time-share agreements could not be fully taxed in the first...
Income Tax : The ITAT Chandigarh held that reassessment proceedings initiated under an incorrect and obsolete PAN suffered from a jurisdictiona...
Income Tax : ITAT Delhi deleted transfer pricing adjustments after holding that retail and after-sales businesses could not be compared with wh...
Income Tax : The Bombay High Court held that penalty proceedings under Section 271-D cannot continue independently when the appeal against the ...
Income Tax : The ITAT Ahmedabad restored reassessment proceedings after the assessee produced documents showing disputed property sales and pen...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
The Court held that interest income on securities accrues on the due date of payment and not on a daily basis. As the issue was covered by binding precedents, no substantial question of law arose.
The Supreme Court held that Leave Travel Concession involving foreign travel falls outside Section 10(5) exemption. Employers must deduct TDS where LTC journeys include foreign legs or deviate from the shortest domestic route.
The Delhi High Court set aside reassessment proceedings after finding that the PCIT granted only a signature without recording satisfaction, violating the statutory requirement of prior approval.
The Calcutta High Court set aside a reassessment order under Sections 148A(3) and 148, holding that the assessee was denied a fair opportunity to respond, even though notice was served at the consultant’s email address.
The ITAT Delhi held that merely because additions were sustained in quantum proceedings, penalty under Section 271(1)(c) cannot automatically follow. The Revenue must independently prove concealment or furnishing of inaccurate particulars.
The ITAT Kolkata held that revision under Section 263 was invalid where the Assessing Officer had already examined service tax liability and depreciation claims during assessment. The order was not erroneous or prejudicial to Revenue.
A clear analysis of India’s 6% and 2% digital tax framework, its legal basis under the Finance Acts of 2016 and 2020, and its global implications.
Draft Rule 66 requires mandatory audit, Form 32 filing, and section-wise document submission for claiming deductions under Sections 46 to 144, reinforcing strict procedural compliance.
Draft Rules 63–65 prescribe strict approval, notification, and compliance conditions for universities, sports bodies, and rent deduction claims under Sections 133 and 134, strengthening regulatory control and transparency.
Rule 62 mandates that deductions under Section 128 for specified serious diseases are allowed only when supported by prescriptions from qualified medical specialists. The rule clearly defines eligible ailments, authorised doctors, and the mandatory certification format.
