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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 table turning judgement of the Permanent Court of Arbitration at The Hague came after a decade long battle fought by the Vodafone Plc against the Indian Income Tax Authorities and Government of India. The Indian Income-tax Authorities have been burdened with substantial cost by the Permanent Court of Arbitration at The Hague by making […]
Income Tax Return (‘ITR’), an annual record of income, enables a taxpayer to declare his income, expenses, tax liability, deductions, savings, investments, etc. during the applicable Fiscal Year (i.e. Financial Year (‘FY’) – a period from April 1 to March 31).
Introduction Various provisions of the Income-tax Act, 1961 (‘the Act’) have faced prolonged litigation over the years. Section 2(22)(e) is also one among the list. This article discuses various issues relating to practical applicability of section 2(22)(e) like only advance or loan is subject to sec. 2(22)(e), amount received for corporate guarantee deemed dividend or […]
Tax Bar Association, Kota has made a request for Extension of due date for submitting Tax Audit Report and for filing IT Returns to 31st March 2021 to ameliorate the difficulties faces by the assessee in this corona period. Tax Bar Association, Kota Hon’ble Smt. Nirmala Sitharaman Ji Union Minister of Finance, Ministry of Finance, […]
Tax Bar Association, Alwar has made request for Extension of due date for submitting Tax Audit Report and for filing IT Returns of F.Y. 2019-20 to 31st March 2021. Tax Bar Association, Alwar Date 08.10.2010 Hon’able smt. Nirmala Sitaraman ji Union Minister of Finance, Ministry of Finance, Govt. of India. North Block, New Delhi.110001 Email […]
Udaipur Tax Bar Association requested for Further Extension of due dates for filing of both Income Tax Returns (ITR) & Tax Audit Reports (TAR) for F.Y. 2019-20 (A.Y. 2020-21) UDAIPUR TAX BAR ASSOCIATION 10.10.2020 Hon’able Smt. Nirmala Sitaraman Union Finance Minister, Ministry of Finance, Govt. of India, North Block, New Delhi — 110001 Email ID […]
We therefore requested that CBDT shall also exercise discretionary power vested u/s 119 of I.T Act 1961 by extended the due date to 31st March 2021 to ameliorate the difficulties faced by assessee in this corona period.
Lakshya Budhiraja Vs Union of India (Delhi High Court) The petition has been listed before this Bench by the Registry in view of the urgency expressed therein. The same has been heard by way of video conferencing. Present writ petition has been filed seeking a direction to the respondents to grant an opportunity of hearing […]
We request that looking to the circumstance and looking to the government guidelines regarding gradual reopening of offices etc. the time limit for filing of Income Tax returns and Income Tax Audit Report may kindly be extended till 31St December, 2020.
Bank of India Vs JCIT (ITAT Mumbai) Conclusion: PCIT rightly directed Bank of India’s case to TPO for determination of arm’s length price (ALP) in relation to international transactions and specified domestic transactions under revision proceedings as it was binding on AO as per the CBDT Circular in force at that point of time under […]
