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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 : ITAT Delhi held that a notice under Section 143(2) issued by a non-jurisdictional Assessing Officer without a valid transfer order...
Income Tax : The ITAT held that cash deposited during demonetization was adequately explained through instrument charges consistently disclosed...
Income Tax : The ITAT held that advertisement and brand promotion expenses incurred by the distributor were for its own business and were not s...
Income Tax : The Kerala High Court held that the ITAT wrongly assumed that the Assessing Officer had not examined either disputed issue. It rem...
Income Tax : The Kerala High Court held that condonation of delay in filing the income tax return could materially affect the assessment denyin...
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...
Republished with revised Simple Version Simple Income Tax Calculator for the Financial Year 2020-21 in Excel for Salaried Individuals. Tax Planning in the beginning of the Financial Year is always better instead of doing that at the end of the year in hurry. This will help the Individual to plan their Investments in advance and […]
ACIT Vs Starwood (M) International Inc. (ITAT Delhi) Conclusion: In present facts of the case, while dismissing Revenue’s appeal, it was held that to prove case under Article 12 of India-US DTAA, no specification was given or limb was satisfied by the Revenue. Further, it was also held that no new facts could be entertained […]
Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme The scheme ‘Vivad Se Vishwas’ is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers and no targets were fixed by the Government under the Scheme. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary […]
The CBDT has notified vide Notification No. 90/2021 – Income Tax Dated : 9th August, 2021, a new set of rules to amend the existing Income-tax Rules, 1962 which shall come into force as on the date of its publication in the Official Gazette. The aim of this amendment is to insert two new rules after […]
Lakhmi Chand Tejoo Mal Vs ACIT (ITAT Delhi) Applying Deemed Dividend Without Disputing Purpose Of Transaction In Violation To CBDT Circular No. 19/2017 Is Invalid. GIST 1. We have carefully considered the orders of the authorities below and the relevant documents brought to our notice. The undisputed fact is that vide agreement to sell dated […]
Lakhmi Chand Tejoo Mal Vs ACIT (ITAT Delhi) MULTIPLICITY OF ERRORS IN REASONS MAKE REASSESSMENT VOID The ld. counsel for the assessee vehemently stated that 11 entries have been shown in the information and it can be seen that there are repetition of same entries/amounts and the Assessing Officer has, in fact, at para -6 […]
One Mobikwik Systems Private Limited Vs DCIT (Delhi High Court) HC quashed scrutiny assessment order passed hurriedly as Show Cause Notice was issued on 11.06.2021 (Friday) & time given for reply was upto 14.06.21(Monday). Given the fact that, the time frame set out in the show cause notice dated 11.06.2021 was extremely narrow, and that […]
I am directed to convey that the following Standard Operating Procedure (SOP) is prescribed with the approval of CBDT for completing the penalties under the FPS-2021:-
What is Cryptocurrency? In simple words, cryptocurrencies are digital money that can’t be seen or touched but have certain value attached to them. They are support by blockchain technology which relies on a network of computers to keep track of transactions rather than on a centralized authority like a bank. Cryptocurrency is decentralized digital money, […]
Autodesk Asia Pte. Ltd. Vs ACIT (ITAT Bangalore) It was the case of the assessee that the sale of software / hardware was made outside India and the proceeds received from Indian distributors / customers was received by the assessee outside India. In the draft Order of Assessment, the AO treated the money received by […]
