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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...
Babusha Haribhau Gade Vs ITO (ITAT Pune) Another issue for consideration is whether the appellant has converted the land into stock-in-trade as claimed. It is a fact that this issue was not raised before the AO. Therefore, the AO had no opportunity to verify the assessee’s said claim. This Bench made a specific query to […]
Uncover the impact of residential status on tax liability. Dive into the nuances of determining residential status in India and its significance in shaping an individual’s tax responsibilities. Explore examples and insights for effective tax planning.
With reference to his/her application for recruitment to the post of Inspector of Income Tax in CBDT on the basis of Combined Graduate Level Examination 2019, the candidate selected as Inspector of Income Tax in CBDT is directed to indicate/exercise his/her preferences, in order of priority for allotment of 18 regions under Income Tax Department (CBDT) all over the country, in the enclosed format.
Explore Canadian taxation on capital gains and losses with insights from Canada Revenue Agency. Learn the basics, such as calculating proceeds of disposition and adjusted cost base. Discover how to claim capital gains deductions and navigate Schedule 3 for reporting. Dive into real-life case studies and find out about the lifetime capital gains exemption limit. Uncover details about foreign currency transactions and corporation tax implications.
Explore the dimensions of updated return under Section 139(8A) & Tax implications as per Section 140B of the Income Tax Act, 1961. Learn the conditions, time limits, and additional tax rates for correcting omissions or errors. Stay informed for better tax compliance.
Honorable Apex Court, in it’s judgment, in Para 10(iv) says as under: All defenses which may be available to the assesses including those available under section 149 of the IT Act and all rights and contentions which may be available to the concerned assessee and Revenue under the Finance Act, 2021 and in law shall continue to be available.
Unlock tax benefits with Section 80JJAA! Learn who can claim, conditions, and examples. Discover how to calculate additional employee cost and the quantum of deduction. FAQs answered for clarity. Start saving on taxes today!
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 59/2022-Income Tax | Dated: 6th June, 2022 S.O. 2602(E).—In exercise of the powers conferred by sub-section (8A) of section 9A of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Act), the Central Government hereby specifies that […]
Assessee was neither entitled to deduction under section 80P(2Xd) nor under section 80P(2)(a)(i) in respect of interest income earned from investments with Cooperative Banks such interest income was to be assessed as income from other sources.
Order No. 114 of 2022 | Dated: 6th June, 2022. With the approval of the Finance Minister, the following existing posts in the various grades of Indian Revenue Service are reverted/deployed as under with immediate effect and until further orders:
