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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 : The Court held that the assessment and consequential demand could not stand where the petitioner had not participated in the proce...
Income Tax : The ITAT Hyderabad held that the entire sale consideration could not be assessed as short-term capital gains without examining the...
Income Tax : The ITAT Hyderabad accepted the assessee's explanation that supporting documents could not be produced because the accountant was ...
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 : 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 issue under consideration is whether the Tribunal was justified in holding that provisions of section 69C of the Income Tax Act, 1961 are not applicable for assessee?
Discover effective strategies to save income tax for the financial year 2023-24. Explore income tax rates, deductions, and exemptions. Make informed decisions between the old and new tax regimes. Get answers to FAQs on salary income. Maximize your tax savings now!
Understand the requirements for filing Return of Income under the Income Tax Act. Learn who is mandatorily required to file ROI.
Expenditure on Scientific Research And Its’ Treatment Under Income Tax Act, 1961 Dear friends, we are going through a very turbulent phase in which we are facing unpresented threat of COVID-19 pandemic, declining pace of economy, lack of foreign reserves and new threat of India -China war position at our borders. The government has shown […]
NGOs stand for non-governmental organisations. In a general term, a non- governmental organisation is the one that operates independently of any government, typically one whose purpose is to address a social or political issue. For example, an NGO taking initiative by providing medical and educations awareness facilities in rural areas which benefit the society and […]
Delaware, U.S.A., is one of the most tax-friendly states which attracts the maximum number of business entities to do the business with the most business-friendly policies. I get a maximum number of calls/inquiries about the individual tax/corporate tax or other tax-related matters. Though I have written the maximum number of articles on American Taxation, this […]
ITO Vs Bata India Ltd. (ITAT Kolkata) There is no dispute on the basic fact that the Assessing Officer’s order herein dated 10.06.2009 passed u/s 201(1A) r.w.s. 195 of the Act has raised interest payment in issue of ₹1,02,545/- for the reason that it failed to pay the TDS deducted on royalty payments to the […]
A comprehensive guide to Income Tax Return filing and precautions to avoid notices and demands from the Income Tax department.
Unlock New ITR-1 Sahaj: Explore key changes in Income Tax Return Form 1 for AY 2020-21. Learn eligibility criteria, filing options, and FAQs. Ensure accurate filing with insights on ITR-1 (Sahaj) modifications. File confidently with our comprehensive guide.
If the word ‘a’ as employed under Section 54 prior to its amendment and substitution by the words ‘one’ with effect from 01.04.2015 could not include plural units of residential houses, there was no need to amend the said provisions by Finance Act No.2 of 2014 with effect from 01.04.2015 which the Legislature specifically made it clear to operate only prospectively from A.Y.2015-2016.
