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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...
Ozone Plant Design Service Private Limited Vs Commissioner of Service Tax (CESTAT Delhi) In the present case, upon filing of the refund claims, only a deficiency memo was issued to the appellant requiring the appellant to appear on a particular date and produce the required documents indicated in the memo to substantiate the claim. What […]
Understanding the implications of declaration of undisclosed income to ‘buy peace’ in income tax search and seizure cases.
SHORT SUMMARY: Recently MCA has issued a Notification on 11th January 2022 for amendment in ‘Companies (Registration Offices and Fees) Amendment Rules, 2022‘. This notification is stated about ‘Higher Additional fees in Certain Cases‘. A. Language of Circular: The additional fees and higher additional fees shall be applicable in delay in filing of certain forms […]
In this editorial author shall discuss the step with step process and provisions of withdrawal of Name from Registrar of Companies (ROC). Many professionals asked this question, how to withdrawal the name already approved by Central Registration Centre (CRC). A. Validity of Name approved by CRC: All the powers of approval of Name for Company […]
In this deliberation my view or proposals might be appeared to be absurd and preposterous but my view is purely personal in nature being born out of bitter and most unpalatable experience with the consecutive income tax portals particularly the subsequent one not only by me but of entire tax fraternity to such serious extent […]
The Union Budget is expected to focus on employment generation, increase in limits for basic tax exemption, standard deduction, medical expenses, rationalization of tax rates and certain social security investments. Some of the changes expected on the personal taxation front are as under: 1. Providing for enhanced limit of Standard Deduction for salaried individuals Currently, […]
The issue under consideration in this write up is whether disallowance u/s 40(a)(ia), 40A & 43B of Income Tax Act, 1961 are attracted in case of an eligible assessee declaring income under presumptive taxation scheme contained in section 44AD, 44ADA & 44AE. Section 44AD, 44ADA & 44AE starts with a non-obstante clause reading as ”Notwithstanding […]
Sabre Asia Pacific Pte Ltd Vs ACIT (ITAT Mumbai) The first issue that needs to be decided is whether the assessee has a permanent establishment in India or not? This is challenged as per ground 2 of the appeal. We find that this issue is squarely covered against the assessee by the decision of the […]
Maharani of India Vs ACIT (ITAT Delhi) TDS not deductible on membership and subscription charges The membership and subscription charges are not covered under any specific sections provided under Chapter XVII-B of the Act. It is also very important to mention here that in the preceeding years i.e. A.Y. 2012-13 and 2013-14 as well as […]
An in-depth analysis of the Taxation Laws (Amendment) Act, 2021. Understand the implications and changes to the Income Tax Act and Finance Act.
