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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...
Understand the allowability of donations as an expenditure under Income Tax regulations. Learn about the criteria, commercial expediency, and the connection between donations and business activities. Ensure compliance for eligible deductions.
Learn about filing an updated return (ITR-U) under Income Tax regulations. Discover eligibility, time limits, form type (ITR-U), tax liabilities, and penalties. Ensure compliance and avoid penalties with updated returns.
Craft a strong response to Section 148A(b) Notice under the Income Tax Act, 1961. Leverage the Supreme Court order in Union of India vs. Ashish Agarwal dated 04-05-2022 to challenge and defend against the notice.
Stay updated on Section 194R – TDS on benefits or perquisites in business or profession effective from July 1, 2022. Explore the changes introduced by Finance Bill 2022 and understand the implications. Learn about the scope of benefits or perquisites covered, applicable TDS rates, and exemptions. Get insights into various scenarios and cases under Section 194R. Stay compliant and informed with the latest tax regulations.
Explore the choice between the old and new income tax regimes in India following the 2020-21 budget. Finance Minister Nirmala Sitharaman introduced a simplified new tax rate, reducing saving incentives. Individuals and HUFs now face the decision of opting for the old or new regime. Compare tax slabs, deductions, and their implications. Dive into case scenarios to understand the impact on taxpayers at different income levels. Stay informed about the complexities and benefits associated with each tax regime.
Income-tax Authorities of the NaFAC/ AUs/ RUs e. Pr.CCIT/CIT/ Addl.CIT/Jt.CIT/DCIT/ACIT/ITO shall act as and perform the functions of the corresponding Income-tax authorities of the National Faceless Penalty Centre/ Penalty Units/ Penalty Review Units respectively.
CBDT or the Board) hereby sets up the Units as specified in Column 2 of the Schedule below (hereinafter referred to as the said Schedule), which shall have its headquarters at the places mentioned in Column 3
CBDT hereby directs that the words ‘Principal Commissioners of Income-tax (ReFAC) (Technical Unit)’ in Para 3 of the said Order shall be replaced with the words ‘Principal Commissioners of Income-tax (Technical Unit)’.
DGIT(S)/ADG(S)-2/Compliance Check/432/2021-22 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 01 of 2022-Income Tax New Delhi, 09th June, 2022 Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961 Section 206AB and 206CCA of the Income-tax Act,1961 (effective from 1st July 2021 and […]
Explore the latest amendments in Income Tax Act, 1961! Understand the implications of Finance Act, 2022, specifically the changes in section 12AB. Learn about ‘Specified Violations’ and the potential cancellation of registration for non-compliance. CA Amit Jindal, Legal Head at Neeraj Bhagat & Co. Chartered Accountants, provides insightful commentary on the amendments, CBDT clarifications, and procedural details. Stay informed to navigate the complexities.
