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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 conducted searches on 16.08.2021 on a company engaged in trading of telecom equipment and installation and servicing of these items for various telecom players in India. Searches were conducted at 5 premises, including the corporate office, residence of foreign director, residence of company secretary, accounts person and the cash handler of a foreign subsidiary company in India.
There is a misconception in the mind of business as well as professional community that if a person opts the provisions of presumptive taxation, then he is free to enjoy the difference between the actual profits and the presumptive profits. It is to be noted that the provisions of presumptive taxation are enacted to facilitate […]
Office Order No. 209 of 2021 The following transfer/postings (Local changes) of the officers in the grade of Assistant/Deputy Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:
Pramod Lele Vs ITO (ITAT Mumbai) 1. The expression ‘Technical Consultancy’ would only mean rendering of technical services by assessee. In our considered opinion, the expression ‘Management Consultancy’ could not be brought within the ambit of “technical consultancy”. 2. Hence, we hold that the provisions of Section 44AA(1) of the Act cannot be made applicable […]
Urban Ladder Home Décor Solutions Pvt. Ltd. Vs ACIT (ITAT Bangalore) A careful perusal of the relevant provisions of the agreement entered by the assessee with Facebook and Rocket Science Group (Mailchimp) would show that both these non-resident companies are allowing the assessee to use the facilities provided in their sites, which includes, inter alia, […]
Office Order No. 206 of 2021 In supersession of all earlier orders, the following transfer/postings of the officers in the grade of Principal Commissioners of Income Tax/Principal Directors of Income Tax, are hereby ordered with immediate effect and until further orders:
Faceless Assessment Scheme is working towards ensuring a robust, efficient and transparent system – CII Survey On the completion of one year of the Faceless Assessment Scheme, CII conducted a survey to gauge industry views on the effectiveness of the Scheme, which revealed overwhelming support for the new system. “The Transparent Taxation Platform, and more […]
Discover the importance of scholarships for students. Learn about the different types of scholarships available and their impact on education.
Provisions of section 234H of the Income Tax Act are recently inserted vide the Finance Act, 2021. Accordingly, section 234H is made effective from 1st April 2021. It deals with the late fees payable on account of failure to intimate the Aadhaar number to the Income Tax Department (i.e., link the PAN with Aadhaar). The […]
Understand the taxation of segregated portfolio schemes under the Income Tax Act, 1961. Learn about the impact on debt mutual funds and investors.
