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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...
असीम संभावनाओं से भरा आयकर पोर्टल के धीमा चलने के कारण निम्नलिखित समस्याएं तेजी से बढ़ रही है: 1. विवरणी दाखिल करने में काफी समय लग रहा है. 2. पोर्टल पर लॉगिन की समस्या बनी हुई है. 3. कुछ रिटर्न जमा हो रहे हैं तो कुछ की रिटर्न भरने के बाद भी पोर्टल पर दिखाई […]
Parexel International Clinical Research Private Limited Vs DCIT (ITAT Bangalore) In this case, the assessee coordinated between the individual investigator and Paraxel International GmbH Germany. The contention of the assessee is that assessee has not undertaken any risk and all risk was taken over by Paraxel International GmbH Germany and relied on the Addendum dated […]
CIT Vs. Mohammed Meeran Shahul Hameed (Supreme Court) The short question of law which is posed for consideration before this court is, 1. whether in the facts and circumstances of the case, the High Court and the learned ITAT are right in holding that the order passed by the learned Commissioner passed under Section 263 […]
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 8th October, 2021, vide Notification No. 80/2021-Customs (N.T.) | Dated: 7th October, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 80/2021 – Customs (N.T.) New Delhi, dated the 7th […]
ITAT, Bengaluru Bench in the case of Smt. Nethravathi, Bengaluru vs ITO in ITA No.2630/Bang/2017 order dated 25.04.2018 wherein this Tribunal took the view that multiple flats obtained under JDA would be entitled to deduction under section 54F of the Act.
Request for clarification and rationalization of provisions of TCS on sale of overseas tour package: a letter to the Finance Minister and Revenue Secretary.
With the amendment in Finance Act, 2020 section 194N was amended by substituting 83A which imposes 2% TDS on withdrawal of sum exceeding Rs. 1 crore. This section has came into effect from 1 st July 2020. Every person including – (i) Individuals (ii) HUF (iii) Company (iv) Partnership firms or LLP (v) Local authorities […]
Central Board of Direct Taxes Vs Lakshya Budhiraja & Anr. (Supreme Court of India) SC recording of proceedings where Department submits proposal of change in faceless appeal scheme before Supreme Court in 3 months on account of provision relating to personal hearing. FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER Learned Additional Solicitor General submits that […]
INCOME TAX QUESTIONS & ANSWERS SERIES PART -V Today we are going to consider problem based on provisions of Sections 2(22)( e) of the Income Tax Act, 1961. PROBLEM :– Mr. X holds 25% voting power in ABC (P)Ltd., he permits his own land to be mortgaged to a bank for enabling the company to […]
SGS India Ltd. Vs Dolphin International Ltd. (Supreme Court) The onus of proof of deficiency in service is on the complainant in the complaints under the Consumer Protection Act, 1986. It is the complainant who had approached the Commission, therefore, without any proof of deficiency, the opposite party cannot be held responsible for deficiency in […]
