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Income Tax : The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
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 ITAT Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
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...
Held that addition made on estimated basis, without rejecting books of accounts of the assessee, is unsustainable in law
Held that the explanation of the source of these very small loans as given by friends of the assessee to help him in his share trading transactions, and which has been confirmed by two parties, cannot be dismissed as unbelievable.
Delhi high court negating dept stand about retrospective amendment plea for sec 14A explanation added by finance act 2022 in authors opinion it should ably address the much created confusion from revenue side.
Due date of for filing TDS return for Q-4 was 31.05.2022. TDS Certificates are required to be issued within 15 days, (within 15.06.2022). The tax-payer has to reconcile the data with information contained in AIS as well as TDS certificates.
This Article Explains Step by Step Preparation of Application U/S. 154 of the Income Tax Act, 1961 For Rectification of Intimation U/S. 143(1) Issued with Adjustment for Income Reported in Clause 16(d) Of Tax Audit Report.
Held that the department cannot proceed against a person found liable to prosecute him for the offence under Section 276CC of the Income Tax Act, 1961 without sanction under section 278B.
Held that merely because the assessee is referred as a contractor in the agreement, it doesn’t detract the assessee from the position of being a developer, nor will deprive the assessee from claiming deduction under Section 80IA(4) of the Act.
Held that identity of the donors as provided u/s 115BBC of the Act has been established by the assessee. Accordingly, the donations cannot be categorized as anonymous donations and cannot be subjected to tax.
Held that for invoking revisionary power u/s 263 it is necessary to point out the error in the order and that too such an error should be prejudicial to the interest of the revenue
Preparing TDS Returns with large data volumes is one of the big challenges faced by the Finance & HRD teams across Enterprises. Tax Consulting Firms and HR companies providing outsourced services within the eco-system are also faced with similar issues.
