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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...
In 2012, after the adversarial decision of Supreme Court decision in the case of Vodafone, Indian Government had introduced slew of retrospective amendments in the Income Tax Act. This led to severe criticism from the International community and investors and damaged India’s image as investment hub. It further augmented litigation and huge taxes were blocked.
Provisions of section 208 make payment of advance tax mandatory for the taxpayer liable to pay a tax of INR 10,000 or more. Additionally, the income tax law also mandates the taxpayer to pay the advance tax in specified proportion (instalments). In case the taxpayer misses to pay the advance tax in specified proportion, he […]
Discover how to overcome technical glitches at the Income Tax Portal 2.0. Explore suggestive measures for a smoother ITR filing process and better user experience.
The Economy of our country is at a point when quick recovery is necessary and foreign Investment can play one of the most important roles in this. Foreign Investment is necessary for faster economic growth and employment. We all are pretty much aware of the fact that how China has grown in these past years […]
Real estate sector is one of the most globally recognized sectors. It comprises of four sub sectors – housing, retail, hospitality, and commercial. Corporate environment and the demand for office space are few of the factors for the growth. This growth in the sector plays a substantial role in the increased prices of the lands […]
Cushman & Wakefield Property Management Services India Pvt. Ltd.,Vs DCIT (ITAT Delhi) We have heard both the parties and perused the relevant material available on record. It is pertinent to note that the quantum appeal has been allowed by the Tribunal. Thus, the addition, on which penalty has been imposed by the Revenue does not […]
If a statute provides an act to be done by a particular authority and in a particular manner, it should only be done by that authority and in that manner or not at all noted that the Respondent acted arbitrarily by withholding the refund without assigning any reason though the statute mandates for recording the same.
ITR-1 (SAHAJ) This return is applicable for a Resident Individual (other than Not Ordinarily Resident) having Total Income from any of the following sources up to Rs. 50 lakhs 1. Salary/Pension 2. One House Property 3. Other sources (Interest, Family Pension, Dividend etc.) 4. Agricultural Income up to Rs. 5,000 Note: ITR-1 cannot be used by […]
Komal, a renowned fashion designer, is famous across Pune city for designing stylish and elegant ladies wear. She designs suits, dresses, and other clothing & accessories for the middle-to-rich class of society. Once, Namrata, wife of a leading diamond merchant of the city, hired Komal to design a nightgown for a family function. Komal designed […]
Recently, the Central Board of Direct Taxes (CBDT) in April 2021 notified new ITR forms for the financial year 2021-2022. Later in May 2021, they extended the timeline for submitting direct tax compliances for the current financial year. In India, every individual has to file for income tax returns i.e. ITR in every financial year. […]
