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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...
At present, in Finacle CBS System, the PAN Card of the Depositors are updated as part of KYC compliance. The PAN Card entered in the system is validated only based on the standard PAN format i.e. 10 ALPHA Numeric Characters. But the correctness of the PAN card numbers provided by the Depositors or the PAN entered by the Post Office officials are not validated with NSDL currently.
Understanding the income tax implications on compensation from compulsory acquisition. Learn about Section 96 and its impact on income tax levies.
Article contains Process Flow Steps In E-Filing 2.0 on New Income Tax Portal For all Audit Forms including Form 15CB and Form 10CCB and it also contains List of 22 Audit Reports and mode of Submission. A. PROCESS FLOW – For all Audit Forms except Form 15CB and Form 10CCB Steps Action by Action Description Step […]
Article contains FAQs on Tax Audit Report (Form 3CA-CB/ Form 3CB-CD), Form 10 B, Form 29B, Form 10DA, Form 56F, Form 10E, Form 10-IE, Form 67, Form 10BA, Form 35, Form 10-IC, Form 10-IB & Form 10-ID. Tax Audit Report (Form 3CA-CB/ Form 3CB-CD) FAQ 1: While submitting Form 3CB-3CD, “Unique Document Identification Number (UDIN)” […]
Krishna, Honourable Finance Minister Mrs. Nirmala Sitharaman will be declaring the Finance Budget of 2022-23 on 01st February in the Lok Sabha. Everyone is excited for the Budget. But Krishna, what is Budget and by whom it is prepared?
R.S. Steel Manufacturers Vs ACIT (ITAT Ahmedabad) In this case Ld. CIT(A), it appears presumed that that the VAT receivable was very much available for set off as per the books of the assessee and as opposed to that claimed by it that it was not available for set off. We find that this finding […]
गुजरात हाईकोर्ट की फटकार के बाद आयकर विभाग की निर्णायक संस्था सीबीडीटी ने एफिडेविट सबमिट कर आश्वासन दिया कि करदाता की जो भी पोर्टल संबंधित समस्या है, उसका तुरंत निराकरण किया जावेगा. इस हेतु सीबीडीटी ने सरकार की तरफ से ईमेल आईडी भी कोर्ट के सामने रखे, जिस पर करदाता शिकायत कर सकता है और […]
Oracle Financial Services Software Limited Vs DCIT (Bombay High Court) Existence of the reason to believe that income chargeable to tax has escaped assessment is a jurisdictional condition for invoking the power under section 147 of the Act, 1961, both within and beyond a period of four years from the end of relevant assessment year. […]
Hindustan Petroleum Corporation Ltd. Vs Union of India (Bombay High Court) The Respondents filed Central Excise Writ Petition No. 60 of 2018 against the Petitioner and was pending before this Court. On 27/12/2019, the Petitioner opted for settling the said SVLDR scheme by filing necessary SVLDRS-1 declaration. The said application however was rejected on the […]
We hold that there is no question of treating the amount withdrawn by the assessee as partner from the partnership firm namely M/s SKA Enterprises in the nature of loan and advance and treat it as deemed dividend under section 2(22)(e) of the Income Tax Act. None of the ingredients of section 2(22)(e) stand satisfied in the instant case.
