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Income Tax : This guide explains when Section 206AA requires TDS at a higher rate due to non-furnishing of PAN and the applicable exceptions. I...
Income Tax : Learn how TDS on rent is governed under Sections 194-I and 194-IB, including eligibility, deduction rates, thresholds, and complia...
Income Tax : This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and c...
Income Tax : This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...
Income Tax : Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income c...
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 upheld deletion of the Section 69A addition after finding that the bank credits were satisfactorily explained as insuranc...
Income Tax : Tribunal held that final assessment order was time-barred because it was passed after mandatory period prescribed under Section 14...
Income Tax : The ITAT held that a transfer pricing order issued without authentication or a digital signature is invalid in law. Consequently, ...
Income Tax : The ITAT held that an opening cash balance cannot be treated as unexplained merely because the previous year's income tax return r...
Income Tax : The ITAT held that the Assessing Officer disallowed interest expenditure without adequately verifying the records or confronting t...
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...
Pending Refunds – No Statistical Data maintained by Centralized Processing Centre (CPC), Income Tax Department The Centralized Processing Centre (CPC), Income Tax Department has informed that it does not maintain the statistical data pertaining to the ‘Refunds (pending to be released by the Assessing Officers’ as applicable for each Circle/ Zone/ City and the country […]
Maharashtra Tax Practitioners’ Association has made a representation to Shri. Narendraji Modi, Prime Minister of India and brought to his attention issues faced by Taxpayer & Professionals on New Income Tax Portal www.incometaxindia.gov.in. Text of their representation is as follows:- Maharashtra Tax Practitioners’ Association SS/MTPA/IT representation 21-22/0721 Dated: 14th July 2021 To, Shri. Narendraji Modi, Prime […]
Circular No.13 dated 30th June 2021 issued by Central Board of Direct Taxes gave the Guidelines under Section 194Q of Income Tax Act, 1961. The CBDT Circular also covers the linkage between Sections 194Q, 194-O and 206C(1H). 194-O is tax deduction at source by ecommerce operator, the rate is 1.0% and it has come into […]
SAP Labs India Pvt. Ltd. Vs DCIT (ITAT Bangalore) The argument of the learned AR is that Infosys Limited is functionally different from the assessee. It owns intangible and undertakes research and development. The learned AR also submitted that it has high brand value and turnover. On the contrary, the learned DR submitted that the […]
Delhi HC sets aside ITAT order due to non-publication of daily sheets causing prejudice. Directs ITAT to implement system for online updates within 3 months.
RMSI Private Ltd. Vs National E-Assessment Centre (Delhi High Court) It is mandatory for the National E-Assessment Centre to provide an opportunity to the assessee, by serving a notice calling upon him to show cause as to why the variation proposed in the Draft Assessment Order, which is prejudicial to the interest of the assessee, […]
Certain allegations have appeared in some sections of media that IT Dept officials were suggesting changes in stories & taking editorial decisions during their search on offices of a certain publication.These allegations are absolutely false & are categorically denied by IT Dept. In keeping with the Department’s protocol, the Investigation team only looked into the […]
JMS Mining Pvt. Ltd. Vs PCIT (ITAT Kolkata) Current appeal has been filed against the order dated March 30, 2021 (Impugned order) passed by Ld. Principal Commissioner of Income-tax (Respondent) under Section 263 of Income Tax Act, 1961 (IT Act). It is challenged on the ground of the invocation of jurisdiction by the Respondent without […]
Learn about the ITR forms applicable for Individuals for AY 2021-22. Find out which form to use based on your income sources and financial situation.
Toplight Corporate Management (P.) Ltd. Vs National faceless assessment Centre Delhi (Delhi High Court) Learned counsel for the petitioner states that the impugned assessment order was passed without issuing mandatory draft assessment order along with show cause notice, as contemplated under Section 144B of the Act, resulting in denial of opportunity to the petitioner to […]
