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Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-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 : ITAT Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : Bangalore ITAT held that allegations of capitation fee collections could not justify denial of exemption under Sections 11 and 12 ...
Income Tax : ITAT Pune held that reassessment proceedings were invalid because the approval under Section 151 was granted by the Principal Comm...
Income Tax : ITAT Delhi held that Section 56(2)(viib) could not be invoked where shares were allotted at a premium to a 100% holding company. 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...
The Income Tax Department’s E-Filing Web Portal Will Not Be Working from June 1 to 6, Finish Your Tax-Related Work in Advance The Income Tax Department is preparing to launch a new e-filing web portal for taxpayers in June second week. Therefore, the existing income tax department’s e-filling web portal will be closed from June […]
The budget 2021 brings major changes in taxability of provident fund. Earlier income from provident fund i.e. contribution from employee contribution from employer and interest part is fully exempt from tax. Now government brings some changes to the earlier provision. In broad view there are two types of provident fund the first one is public […]
We all know that Gift Tax Act which was introduced from 1st April, 1958 in our country as direct tax, which was repealed from 1st October, 1998. Any person receives Gift from any other person, would be consider as income of the recipient as per section 56(2)(x) with certain exemptions. Section 56(2)(x) was inserted by […]
Test of Residency for Individuals under Income Tax – A quick recap Basic Condition to be fulfilled: Under Section 6(1) of the Income-tax Act, an individual is said to be resident in India in any previous year if he: (a) is in India in the previous year for a period or periods amounting in all […]
Are you someone who runs a trust or plans to start one? Do you know that the law gives you special rebates under section 12A and 80G? Are you grasping this opportunity, or you wish to, but……..don’t know how? The government introduced specific provisions in the Finance Act, 2020, making it mandatory for charitable/religious/educational institutions/trusts […]
Stay updated on the Supreme Courts decisions regarding the extension of time limits and CBDT circulars during the pandemic.
Rao Computers Consultants Pvt. Ltd. Vs DCIT (Karnataka High Court) We have to find out in that context what was the intention of the parties in entering into the lease transaction. It is not the number of agreements, which are entered into between the parties which is decisive in determining the nature of transaction. What […]
The powers given to Commissioner of Income Tax under section 264 are very wide and he can revise any order including intimation under section 143(1) Aafreen Fatima Fazal Abbas Sayed v. ACIT AND PCIT (Bombay High Court) WRIT PETITION (L) NO. 6096 OF 2021 Revision application under section 264 cannot be rejected without deciding the […]
No more income tax return filing for senior citizens aged 75 or more. Find out how the Finance Act, 2021 provides relief and reduces compliance burden.
Under Income tax law income tax can be collected in two ways i.e. directly from the assessee where assessee makes tax payment directly (i.e. self assessment tax and advance tax or tax or any other sum on assessment) or indirectly from the assessee where tax is borne by the assessee but payment is made by […]
