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Income Tax : Learn how taxpayers can set off losses against taxable income and carry forward unadjusted losses under the Income-tax Act. The FA...
Income Tax : Learn when the Income-tax Act requires another person's income to be included in your taxable income. The FAQs explain clubbing pr...
Income Tax : Learn how rental income is taxed, who is treated as the owner, and how deductions under Section 24 are computed. The guidance also...
Income Tax : Learn when monetary, immovable, and movable property gifts become taxable under the Income-tax Act. The FAQs explain exemptions, t...
Income Tax : The article highlights that Indian tax law lacks a statutory formula for allocating cross-border ESOP income, increasing the risk ...
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 ruled that failure to produce confirmations from debtors did not justify additions where sales, ledger accounts, and samp...
Income Tax : The ITAT ruled that bonus payments recorded in a separate bonus ledger, audit report, and profit and loss account could not be dis...
Income Tax : The ITAT Bangalore held that cash deposits recorded in audited books of account could not be treated as unexplained merely because...
Income Tax : The ITAT Delhi held that although failure to file Form 10B disentitled the assessee from claiming exemption under Sections 11 and ...
Income Tax : The Tribunal held that the ex gratia received under the BSNL Voluntary Retirement Scheme, 2019 qualified for exemption under Secti...
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...
How to Raise a Service Requests on New Income Tax Website – FAQs Q.1 What is refund reissue request? Ans. If you have received an intimation from Income Tax Department or Refund Banker (SBI) that the processing of refund has failed, you can submit a Refund Reissue Request on the e-Filing portal. With refund reissue […]
Nike India Private Limited Vs ACIT (ITAT Bengalore) There is no dispute that the parent company Nike Inc., has introduced new products and the samples are supplied to third party distributors in order to create awareness of new products amongst the public. The assessee herein is merely an intermediary between M/s Nike Inc and the […]
FAQs on How to Authorize / Register as Representative on Income Tax Website Q.1 When can I authorize someone on my behalf for the purpose of verification of ITR / Forms / Service Requests? And who can be authorized on my behalf? Ans: If you (the assessee) are not able to attend to your Income […]
How to Upload Form BB (Wealth Tax Returns)- FAQs Q.1 What is Form BB used for? Ans. Form BB is used for filing Wealth Tax Returns which can be done online. Individuals, HUFs and Companies whose net wealth exceeds a specified taxable limit (as per the Wealth Tax Act for that particular AY) must file […]
How to file Income Tax Form 10-ID under Section 115BAB – FAQs Q.1 What is Form 10-ID? Ans. New Manufacturing Domestic Companies can opt to pay tax at a concessional tax rate of 15% (plus applicable surcharge and cess) under Section 115BAB of the Income Tax Act, 1961 subject to certain conditions. In order to […]
Dashboard and Worklist (Taxpayer) on Income Tax Website- FAQs Q.1 I am a salaried employee registered with e-Filing. Where do I access all my tax-related information on the e-Filing portal? Ans. You can access all your tax-related information and to-do items on your e-Filing Dashboard. The Dashboard contains links to important services that you would […]
Off let Income tax Department has started issuing notices under section 143(2) of the Income tax Act, 1961 (Act) for the AY 2020-21 through online mode or through National e-Assessment Facilitation Center highlighting certain issues for which case has been selected for scrutiny assessment proceedings. Let us understand the aspects of the same in view […]
Ministry of Finance notified rules for appointment of members in various tribunals on 12.02.2020 in which practice of judicial and accountant members was requiring 25 years of practice. In WP (C) 804 of 2020 dated 27.11.2020 Taking cognizance of this the Honourable SC in Madras Bar Association v. Union of India & Anr. [Writ Petition […]
Understand the new Section 194Q of the Income Tax Act and its implications for buyers. Learn about the applicability and conditions for TDS deduction on purchase of goods exceeding Rs. 50 lakhs.
CA Manikanta PSLS Deduction under 80 IBA updated with Finance Act, 2021 (Affordable housing project Profits deduction under Income Tax Act, 1961) Introduction:- The real estate sector plays a important role in fulfilling the need and demand for housing and infrastructure in the country. The growth of this sector is well complemented by the growth […]
