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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...
Form 10F is an Income Tax form which reduces Non-resident Tax payer’s TDS rate in India. Learn what details are needed to file Form 10F & how to obtain Tax Residency Certificate.
Auroglobal Comtrade Private Limited Vs Chairman, CBDT & Others (Orissa High Court) HC declined to accept challenge to the Reopening notices under Section 148-A(1)(b) of the Act as well as the consequential order under Section 148-A(1)(d) of the Act by holding that the Petitioners/Assessees in those cases would have a full opportunity of urging all […]
Punjab and Haryana HC rejects interference at early stage in Anshul Jain Vs PCIT case. The court holds that objections can be raised in re-assessment proceedings.
ITAT Bangalore held that deduction under section 80P of the Income Tax Act is duly available to the entities registered under Karnataka Souharda Sahakari Act, 1997.
ITAT Mumbai held that penalty under section 271(1)(c) of the Income Tax Act is leviable as incomes were not offered to taxation with a dishonest intention to conceal the income and evade tax.
ITAT Mumbai held that exemption under Section 10(23C) of the Income Tax Act is available to the payments received for consultancy services provided by university.
Dive into the latest developments on the Global Minimum Tax and BEPS as the international community progresses swiftly in implementing the two-pillar solution. Explore the OECD’s public consultations on Pillar One’s Digital Services Taxes and compliance aspects of Pillar Two. Understand the draft Multilateral Convention provisions aimed at removing existing DSTs and achieving stability in the international tax architecture.
ITAT Kolkata held the levy of penalty under section 271AAB of the Income Tax Act without specifying the charge on which the same is imposable is unsustainable in law.
HC held that Tribunal, therefore, correctly restricted the additions limited to the extent of bringing G.P. rate on bogus purchases at the same rate of other genuine purchases.
The budget of the Indian government is an important document that details all of the expenditures, revenue collection, and development plans of the government for the current financial year. Every year, the budget is presented by the Finance Minister in the Indian Parliament, and it provides the basis for the allocation of resources for the country’s economic and social welfare.
