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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...
Explore the ACIT Vs Zodiac Transport case as ITAT Delhi directs fresh adjudication on protective additions, influenced by the SVP Group entities recent partial relief.
ITAT Delhi decision in ACIT vs. Foot Mart Retail clarifies that liabilities, outstanding for years, not written off, cannot be added under section 41(1). Detailed analysis of the case.
Meghalaya High Court orders the setting aside of a Section 148 notice due to procedural lapses, emphasizing the necessity of adhering to the mandated seven-day response period.
ITAT Mumbai sets aside reassessment in Bombay Real Estate Development Co. case, emphasizing absence of new material. Key analysis and implications discussed.
ITAT find that the assessee has not been able to bring out genuine reasons, firstly, for such a huge delay of 1103 days in filing the appeal before the Tribunal and also why the assessee irrespective of being given eight opportunities by the ld. CIT(A) did not present himself or through his authorised representative before the first appellate authority.
The assessee gave additional discount to parties on account of godown rent paid by the said parties. According to the assessee, the customers did not take the delivery of the goods in their own godown after the purchase and the goods would continue to be at the godown of the assessee till the customer sells the goods to the other parties.
Understand the impact of the new Section 194R of the Income Tax Act introduced in 2022. Explore applicability, exceptions, and CBDT clarifications. Prepare for tax compliance and navigate potential complexities.
As you are aware that Capital Gain Tax is charged on transfer of Capital Assets under provisions of Section 45 to 55A of the Income Tax Act, 1961. The main ingredients of Capital Gain Tax are ; 1. There should be a Capital Assets means property of any kind held by an assessee whether or […]
Get the latest updates on income tax return under section 139(8A). Learn about the concept of ‘updated return’ introduced by Finance Act 2022.
Dive into the consequences of cash transactions under the Income Tax Act. Unveil violations, TDS implications, and disallowed expenses. Understand the intricacies to stay tax-compliant.
