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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...
The Income Tax Department carried out search and seizure operations in border districts of Rajasthan on 28.10.2021 covering 33 premises at different locations, where the groups are carrying on business of real estate, sand-mining and liquor trade.
The appellant has alleged disallowance of lease rental payment treating the same as capital expenditure. Further, the appellant has also alleged that CIT(A) has erred in upholding the payment of supplementary rent to Lessors in Ireland under Lease Agreements executed after 01st April 2007 attracts liability for TDS.
Annual Information Statement (AIS) is a comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayer Information Summary (TIS) is an information category wise information summary for a taxpayer.
Sunrise Biscuit Co. Pvt. Ltd. Vs ITO (ITAT Gauhati) VAT subsidy received by the Assessee – subsidy received for substantial expansion of the undertaking – subsidy is capital in nature – capital subsidy liable to be excluded from the computation of books profit Facts- The assessee has received subsidy of INR 8,78,84,902/- from the Industrial […]
Income Tax Department carried out search and seizure operations on one of the leading groups of Karnataka, engaged in the civil construction of roads and irrigation projects, on 28.10.2021 at various premises located in North Karnataka.
Lite-on Mobile India Pvt. Ltd. Vs DCIT (ITAT Chennai) Facts- TPO in respect of procurement of management services determined NIL arm’s length price by holding that the assessee didn’t bring any evidence on record to suggest that it was in need for services for which it has paid to its AEs. Further, assessee has availed […]
Reassessment under section 148 was not justified as ‘reason to believe’ that income for the AY in question had escaped assessment was based on a mere ‘change of opinion’.
Now it has been provided that the due date in section 43B is of no consequence to judge the applicability of provisions of section 36[1][va]of the Act and that too with effect from 01.04.2021.
Discover how to verify the authenticity of an income tax notice on the new portal. Learn about the DIN system and check notices from previous assessment years.
In India, though the Income Tax Act contained the concept of Transfer Pricing in Income Tax Act, 1922 itself, Globalisation & Liberalisation in the year of 1991, have led to the drastic increase in cross-border transactions thereby the need for sharing country’s revenue in a conscious and justified fair manner. Before going to TP documentation, […]
