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Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
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 : 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 Delhi held that a single consolidated satisfaction note covering multiple assessment years without year-wise incriminatin...
Income Tax : The ITAT held that Section 68 could not be applied to sale proceeds received from investments already recorded in the books in an ...
Income Tax : Bangalore ITAT held that customer deposits representing sale proceeds could not be taxed in full as unexplained money under Sectio...
Income Tax : Bangalore ITAT deleted the addition under Section 69A after holding that the assessee had satisfactorily explained the source of c...
Income Tax : The ITAT Bangalore held that cash deposits could not be treated as unexplained where they were sourced from earlier withdrawals fr...
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...
Understand the concept of agriculture income under Section 10(1) of the Income Tax Act, 1961. Learn how it is exempted from total income calculation.
Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances. Here is a quick look at the list of compliances that have been extended by CBDT Circular No 12/2021, Notification Nos 74/2021 & 75/2021 dt 25.06.2021 EXTENSION OF TIME LIMITS FOR EASE OF TAX COMPLIANCE Compliances related […]
In a measure aimed to grant relief, Central Govt announces income-tax exemption to the amount received by a taxpayer for medical treatment for Covid-19, from employer or from any other person & on Ex-gratia amounts recd from employer or from other persons, on death due to Covid. Income Tax Exemption for Expenditure on covid treatment […]
Relaxations to the FBOs due to Covid-19 Pandemic Regulatory Compliance Division of Food Safety and Standards Authority of India (FSSAI) vide circular No. 15(6)2020/FLRS/RCD/FSSAI dated 23.06.2021 has decided to facilitate the FBOs and ensure ease of doing business by providing following extension in relaxations provided earlier vide FSSAI circular dated 2004.2021 due to spike in […]
“Section 194C(1) :Scope of any work , explanation as income tax on income comprised therein , and total value of the work contract,TDS on reimbursement part explained by the Hon’ble SC in Associated Cement Company Ltd vs Commissioner Of Income-Tax … on 23 March, 1993 ‘194C(1). Any person responsible for paying any sum to any […]
CBDT introduced a new section in the Income Tax Act, w.e.f.1st September 2019, to bring in transactions of cash withdrawals under the tax net. According to Section 194N, all the Banks to which Banking Regulation Act applies, a Co-operative Society and a post office shall be responsible to deduct TDS, if any person withdraws cash […]
The recent amendments together with some earlier amendments have brought about confusion as regards its implications. A brief note in a summary form is prepared for a clear understanding of such provisions.
All about My CA service on Income Tax e-Filing Portal – FAQs Q.1 How can I add my CA to e-Filing account? Ans. You can add your Chartered Accountant(s) to your e-Filing account using this service after you log in to your account. The My CA service allows you to do the following: -View a […]
How to View & Submit Income Tax Compliance on Reporting Portal – FAQS Q.1 What are the Compliance Portal and Reporting Portal used for? Ans. The Compliance Portal can be used by taxpayers using Single Sign On (SSO) to respond to the compliances of various kinds including e-Campaign, e-Verification, e-Proceedings and DIN Authentication. Additionally, taxpayers […]
How to View Rectification Status on Income Tax Portal – FAQs Q.1 What is rectification? Ans. Rectification is an option given to you by the Income Tax Department for correcting a mistake apparent from record in your Income Tax Return. You need to submit a rectification request if there is any mistake apparent from record in […]
