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Income Tax : The Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under...
Income Tax : The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exempt...
Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...
Income Tax : ITAT Jaipur held that proceedings under Section 153C are invalid where the Assessing Officer merely reproduces information from th...
Income Tax : The Income Tax Department explains how CPC processes returns under Section 143(1) by correcting apparent errors and incorrect clai...
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 : The Tribunal affirmed the CIT(A)'s order annulling assessments because the search was not conducted in the assessee's name. It als...
Income Tax : The ITAT held that the Supreme Court’s COVID-19 limitation extension did not apply to statutory timelines for completing income-...
Income Tax : The ITAT Raipur held that estimated gross profit addition on unrecorded sales cannot be sustained when the Assessing Officer has n...
Income Tax : The Karnataka High Court set aside the impugned order after finding that the entire tax demand had been recovered despite an inter...
Income Tax : The ITAT Mumbai held that the assessee's convertible debentures lacked the liability component required for classification as Comp...
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...
Explore the additional guidelines under Section 194R of the Income Tax Act, 1961 introduced by the Finance Act 2022. Learn about TDS, criteria, and exemptions. Delve into CBDT Circular 18 of 2022, covering aspects like loan settlement, expenses incurred by a pure agent, out-of-pocket expenses, group activities, and more. Stay informed on TDS exemptions for specific organizations and on bonus or right shares issued by companies with public interest. Stay compliant and make informed financial decisions.
Special Judge, CBI Cases, Lucknow (Uttar Pradesh) has today sentenced Shri Arvind Mishra (an IRS-1989 Batch), then Deputy Commissioner, Income Tax, Lucknow to undergo six years Imprisonment with fine of Rs. 1.50 lakh in a CBI case.
While it may not be perfect, the member countries of the OECD focus have a tendency that the arm’s length principle should govern the judgment of transfer pricing between associated enterprises.
Explore the latest guidelines on TDS under Section 194R with insights from CBDT Circular No. 18 of 2022. Understand exemptions for one-time loan settlements, reimbursement of out-of-pocket expenses, and the impact on dealer conferences. Stay informed on issues like claiming depreciation, applicability to Embassies/High Commissions, and the treatment of bonus/right shares issuance. Disclaimer: This article offers general guidance; consult a tax professional for personalized advice based on your specific circumstances.
Discover key insights from CBDT Circular No. 18 of 2022 dated 13th September, 2022, providing additional guidelines for difficulties under section 194R of the Income Tax Act, 1961. Learn about the clarification on one-time loan settlements, reimbursement of expenses, and challenges in identifying benefits in group activities. Stay informed about the latest updates to ensure compliance and avoid penalties. Disclaimer: This article is for general information purposes; consult tax professionals for personalized advice.
PCIT-4 Vs Krishi Rasayan Exports Pvt. Ltd (Calcutta High Court) Whether the interest subsidy and excise refund would be treated as capital receipt or revenue receipt for the purpose of computation of book profit under the provision of Section 115JB of the Income-Tax Act, 1961 ? Identical issue was also considered by this Court in […]
EOW cracked a major PAN India income tax refund scam being operated from Delhi NCR area. Economic Offences Wing, Bhubaneswar arrested accused Neeraj Singla (28 years age), a resident of Faridabad, Haryana, on 09.09.2022 in connection with EOW PS Case No.15 dt.27.08.2022 U/s 420/467/468/471/120-B IPC/ Sec.66 IT Act. The arrested accused was produced before the […]
CBDT notifies Rule 121A. Form of statement to be furnished by producers of cinematograph films or persons engaged in specified activity and Form N0. 52A Statement to be furnished under section 285B of the Income-tax Act, 1961 by a person carrying on production of a cinematograph film or engaged in specified activity or both vide Notification No. […]
HC held that attempt by CIT to exclude a genuine disputant of tax liability, like petitioner, from possibility of settlement under VSV Act is extremely hyper-technical.
SAT Industries Limited Vs Union of India (Bombay High Court) Suspension of GST registration without opportunity of being heard- HC issues notice to Centre/State Govts Petitioner submitted that the original Sub-Rule (2) of Rule 21A of the Central Goods and Service Tax Rules, 2017 provided that a party shall be given a reasonable opportunity of […]
