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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...
ITAT Bangalore held that interest under section 234A cannot be levied when the return of income is filed within the time stipulated in section 139(1) of the Income Tax Act.
ITAT Mumbai held that mere delay in filing of Form No. 67 cannot preclude the assessee from claiming the benefit of foreign tax credit in respect of tax paid outside India.
ITAT Delhi held that once the assessee was able to demonstrate that the amount received is in the nature of managerial services, it cannot be treated as FTS on estimated basis. Such receipt not being FTS is not taxable in India.
Gujarat High Court held that detachable warrants have conceivable cost of acquisition and the same is deductible from sale consideration for calculation of capital gain.
Tax Impact of Payment to Micro & Small Enterprise under Budget 2023. Learn more about the proposed amendment in Section 43B of Income Tax Act. Get insights into MSMED Act.
Dividend distribution tax is one of the most controversial topics in the income tax area, and it has welcomed many judicial decisions. DDT is a tax levied on dividends distributed by companies out of their profits amongst their shareholders.[
The only way to determine old vs new tax regime- which is better is to enter income under both regimes to determine the actual tax payable.
Discover how to resolve JSON saved in path not found error when generating a JSON file from an Excel-based utility for filing an ITR-U using Form 139(8A). Learn more.
Delhi High Court held that capital gain earned on sale of shares by non-resident is not taxable in terms of Article 13(4) of India and Singapore (DTAA) based on Tax Residency Certificate. Also held that revenue has to accept Tax Residency Certificate and cannot go behind it.
CBDT notifies ITR-7 for Assessment Year 2023-24/Financial Year 2022-23 vide Notification No. 05/2023-Income Tax Dated: 14th February, 2023. MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 05/2023-Income Tax Dated: 14th February, 2023 G.S.R 95(E).—In exercise of the powers conferred by section 139 read with section 295 of the […]
