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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...
Rajasthan BJP Economic Cell has made a request for extension of due date of furnishing of Report of Audit under provision of the Income-tax Act, 1961 for the A. Y. 2021-22. Full text of their representation is as follows:- Bharatiya Janata Party, Rajasthan Shri J.B. Mohapatra, Chairman – Central Board of Direct Taxes, Ministry of […]
‘Annual Information Statement’ relies on the modern technology tools to collect PAN based financial data/ details from various sources. On the basis of the ‘Annual Information Statement’, the taxpayer can easily estimate their income and taxes thereon. It also supports the taxpayer in complying with their tax filing obligations. The current article briefs one of […]
Form 3CA-3CB-3CD – Schema Change Till 6th January 2022 Form 3CA-3CB-3CD – Schema was first released on 26 October, 2021 and after that it was changed thrice. First time 9 changes in Form 3CA-3CB-3CD – Schema were made on 3rd November, 2021, Second time 49 Change were made on 2 December, 2021 and recently 3 changes […]
In some cases, the employer may provide leave travel concession or assistance to his employee to go on leave to any place in India either alone or along with his family. The employee is entitled to exemption under section 10(5) in respect of the value of leave travel concession or assistance received by him from his employer.
Association for Corporate Advisers and Executives (ACAE) made a Request for Extension of Due Dates for filing Tax Audit and Transfer Pricing (TP) Reports to as follows:- 1) The due date of furnishing of Report of Audit under any provisions of the Act, which was 30 September 2021, and extended to 15 January 2022 is […]
Voice Of CA has made a Request for Extension of specified date of filing Tax Audit Report and other forms falling due on or before 15th January, 2022 to Smt Nirmala Sitaraman Ji, Hon’ble Minister of Finance, Government of India. Voice Of CA <voiceofca@gmail.com> Wed, Jan 5, 2022 at 12:52 PM To: fmo@nic.in | Cc: […]
In recent case of U.O.I v. Exide Industries, the Supreme Court looked over the constitutionality of clause (f) of section 43B which was challenged on the grounds that it defeated the dictum of Bharat Earth Movers case
As a part of ‘Beti Bachao Beti padhao’ campaign (Save girls, educate girl child campaign), Prime minister Shri Narendra Modi launched a scheme Sukanya Samriddhi Yojana ( Girl Child Prosperity Scheme) on Jan,22 ,2015. -Sukanya Samriddhi Yojana (SSY) aims to tackle major problem associate with girl child- Education and Marriage -The Parent of the child […]
Learn about the importance of submitting Form 10-IC prior to filing ITR-6 for companies opting for the 115BAA tax regime.
Surcharge and Marginal Relief Calculation [Individual, HUF, AOP, BOI, Artificial Juridical Person (AJP)] The Article is confined to discuss the calculation of Surcharge and Marginal Relief thereon in case of Individual, HUF, AOP, BOI and Artificial Juridical person for AY 2022-23 and onwards One can refer to the following link of article for applicable rates […]
