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Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
Income Tax : Even genuine reporting differences between Form 3CD and the ITR can attract automated scrutiny. This article explains key reconcil...
Income Tax : The article explains that 30 June is the Department's deadline to issue scrutiny notices for eligible returns, not a filing deadli...
Income Tax : AI can simplify tax work but cannot replace professional judgment in income tax filing. The article explains why human review rema...
Income Tax : This article explains why reassessment proceedings may be invalid if the Assessing Officer merely relies on Investigation Wing rep...
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 held that contradictory third-party statements and unverified allegations cannot form the sole basis for taxing alleg...
Income Tax : The ITAT held that an untested third-party statement, without supporting evidence or cross-examination, cannot form the sole basis...
Income Tax : The ITAT held that Section 263 cannot be invoked where the Assessing Officer has made necessary inquiries and adopted a plausible ...
Income Tax : The ITAT held that BSNL employees are entitled to full exemption under Section 10(10B) for compensation received under the 2019 VR...
Income Tax : The ITAT Mumbai held that revision under Section 263 was not justified where the Assessing Officer had examined and consciously al...
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...
Where assessee has mixed funds (made up partly of interest free funds and partly of interest bearing funds) and payment is made out of mixed fund, the investment must be considered to have been made out of interest free fund.
Discover the benefits of pension plans in India and understand the tax implications. Ensure a secure financial future with fixed and assured periodic income.
There should exist an employer and employee relationship among the person then only you will include the amount in your salary. salary paid by the payer to the payee or any amount like gratuity, pension, perquisite, allowance, etc. won’t to taxable under the head salary.
Discover the benefits of ELSS funds and their tax-saving advantages. Learn how you can invest in equity and save on taxes with ELSS mutual funds.
Discover the comprehensive list of relatives covered under section 56(2) of Income Tax Act, 1961. Find out who is exempt from tax on gifts and transfers.
Learn about the new rules introduced by the Income Tax department for charitable institutions. Find out what books of accounts and documents need to be maintained.
Understand the provisions of TDS u/s 194C on payments to contractors. Learn about who is liable to deduct tax and how to deposit it in the government treasury.
The Pr. Chief Commissioner of Income-tax, NWR, Chandigarh invites applications from Chartered Accountants for empanelment as Special Auditors for the period 01.01 .2023 to 31.12.2024 Govt. of India Office of the Pr.Chief Commissioner of Income Tax, N.W. Region, Aayakar Bhawan, Sector-17 E, Chandigarh Telefax: 0172-2544252 e-mail : chandigarh.dcit.hq.iudicialRincometax.gov.in PUBLIC NOTICE The Pr. Chief Commissioner of […]
Representation to extend the due date of filing of Audit reports under Income Tax Act, 1961, from 30th September, 2022 to 31st October, 2022. Please Read: CBDT extends due date for filing various Income Tax Audit reports ALL INDIA FEDERATION OF TAX PRACTITIONERS Dated: September 19,2022 To, 1. Smt. Nirmala Sitharaman Ji, The Honorable Union […]
Technical Guide on Audit of Charitable Institutions under Section 12A of Income-tax Act, 1961 provides guidance on audit of Public Charitable Institutions
