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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...
Stay informed about the applicability of new Indian Income Tax Return forms for AY 2022-2023. Discover which form suits individuals, HUFs, firms, and companies based on income types. Stay compliant with the latest tax regulations.
These instructions are guidelines to help the taxpayers for filling the particulars in CSV template in Part-B Details of donors and donation relevant to the Financial Year.
Central Board of Direct Taxes, e-Filing Project – ITR 3 – Validation Rules for AY 2022-23 – Version 1.0 – 22nd April 2022 1. Purpose The Income Tax Department has provided free return preparation software in downloads page which are fully compliant with data quality requirements. However, there are certain commercially available software or websites that offer […]
Resolve the Stopped status of Income tax emBridge Utility effortlessly. Learn how to change the status and sign forms online on the Income tax Portal.
For assessment year 2021-22, an assessee had the following items of capital gains: Long Term Capital Gains(LTCG) B4e – On redemption of Tax free bonds @10% – Net gains B10e – On redemption of other debt mutual funds @20% after indexation – Net gains B5c – On Sale of Equity Shares @10% – Net loss(or […]
The value of leasehold interest in land is to be included in assets while determining the fair market value of the shares held and owned by the shareholders as on 01.04.1981
Ultimate Infratech Private Limited Vs National Faceless Assessment Centre Delhi & Anr. (Delhi High Court) 1. Only in cases where proceedings for levy of penalty have been initiated on account of alleged misreporting of income that an assessee is prohibited from applying and availing the benefit of immunity from penalty and prosecution under Section 270AA. […]
Rajesh Sajjanraj Bafna Vs DCIT (ITAT Ahmedabad) Income Tax Proceedings based on documents found by DGCEI during search not sustainable if CESTAT treat such document as DUMB documents At this stage, it is also imperative to remind that the proceedings under the service tax and the income tax are distinct and independent to each other. […]
1. Mutual Funds are one of the common and simplest avenues of investment for many of us. It is a mechanism for pooling money managed by a professional Fund Manager. For Income Tax purpose, Mutual fund investment can be broadly classified into three categories i.e. (a) Equity Oriented Funds (b) Debt Funds (c) Hybrid Funds […]
CBDT issues CORRIGENDUM Notification No. 45/2022-Income Tax Dated 25th April, 2022 and rectified mistake in Notification related to Additional conditions for compulsory Income Tax return filing. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New Delhi, the 25th April, 2022 Notification No. 45/2022-Income Tax G.S.R. 313(E).—In the notification of the Government of India, […]
