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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...
Revenue Department had neither sought any new information nor made a reference to new material on record. Held that, a change in opinion that does not satisfy the jurisdictional foundation under Section 147 of the IT Act.
Non-Resident Indians (NRIs) always scout for options to invest their foreign exchange earnings. Regulations and taxation have made purchasing or selling immovable property in India easier. Learn about the rules and implications of NRI investments in real estate.
Learn all about Section 9B and 45(4) of the Income Tax Act, 1961. Budget 2021 has changed tax rules for firms during dissolution and reconstitution. Get all info here
High-Risk CRIUNRU PAN Case and High-Risk CRIUNRU Non-PAN Cases – Dissemination of Cases on the ‘Verification’ module of Insight portal (RMS Cycle-2)
Dissemination of Cases on ‘Verification’ module of Insight portal for Assessment, Investigation and TDS wings as per Risk Management Strategy (Cycle-2) of CBDT
In this regard, potential cases pertaining to AY 2016-17 and AY 2019-20 identified on the basis of risk assessment of verification reports uploaded in the STR module, have been disseminated to field formations with below mentioned case types on the Verification module of the Insight portal.
ITAT Ahmedabad held that addition towards unexplained cash unsustainable as cash expenses duly incorporated in books of accounts and cash book as well as cash receipts not doubted by the authority.
Bombay High Court held that issue of reopening of assessment has to be tested only on the basis of the reasons recorded, which reasons can neither be improved upon nor substituted by an affidavit or oral submissions.
Finance Minister Smt. Nirmala Sitharaman has proposed amendment for providing benefit to micro and small enterprises which might result into being a big task for Indian enterprises.
ITAT Kolkata held that assessee has discharged its onus to prove the identity and creditworthiness of the share subscribing companies and the genuineness of the transactions. Accordingly addition made towards share capital and share premium u/s. 68 unsustainable.
