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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
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 : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
The notification grants tax exemption to a statutory authority as it does not engage in commercial activities. It highlights that compliance with conditions is essential to retain exemption.
The authority received exemption as it qualifies as a statutory body under the law. The ruling highlights that statutory status is key for tax benefits.
The government granted tax exemption after recognizing the authority’s statutory foundation. The key takeaway is that legally constituted bodies can qualify for exemption under Section 10(46A).
The notification recognizes a statutory development authority as eligible for tax exemption under Section 10(46A). The key takeaway is that entities fulfilling public utility functions can secure exemption if properly notified.
The requirement mandates specified funds and brokers to report non-resident investor details quarterly. It ensures transparency and enables monitoring of cross-border transactions.
The issue relates to refusal of taxpayer information requested by an authorised authority. The framework allows rejection where disclosure is not in public interest, ensuring confidentiality safeguards.
The issue involved inability to provide requested taxpayer details. It was held that Form 090 must be issued when data is unavailable or no assessment is made. The decision reinforces procedural transparency.
The framework governs how taxpayer information is shared with authorised authorities. It ensures that disclosure is controlled, lawful, and limited to permissible information.
The issue involved incomplete or incorrect taxpayer details in Form 088. It was held that accurate identification and complete information are essential. The ruling highlights the importance of proper documentation.
The requirement ensures that companies under the tonnage tax scheme submit certified audit reports. It mandates verification of income computation and compliance with statutory conditions.
