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Income Tax : From 1 April 2026, TDS and TCS compliance shifts to new form numbers and section references under the Income-tax Act, 2025. Busine...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
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 : 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 Gujarat High Court upheld the ITAT's decision restricting the addition on alleged bogus purchases to 6% instead of sustaining ...
Income Tax : The Bombay High Court held that proceedings under Section 153C were barred by limitation as the assessments were not completed wit...
Income Tax : The Calcutta High Court held that an assessment cannot survive where the Assessing Officer having jurisdiction failed to issue a m...
Income Tax : The ITAT held that the assessment was invalid because it was completed by an Assistant Commissioner who lacked pecuniary jurisdict...
Income Tax : The ITAT held that the assessment was invalid because the mandatory notice under Section 143(2) was not issued by the Assessing Of...
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...
As there is no rationale for exempting payment to all transporters, irrespective of their size, from the purview of TDS, it is proposed to amend the provisions of section 194C of the Act to expressly provide that the relaxation under sub-section (6) of section 194C of the Act from non-deduction of tax shall only be applicable to the payment in the nature of transport charges (whether paid by a person engaged in the business of transport or otherwise)
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Assessee should upload the form GST TRAN1 within a period of two weeks from the date of receipt of the writ of this order as the delay was due to technical glitches in the GST portal.
Qatalys Software Technologies Private Limited Vs Union of India (Madras High Court) Revenue is right in contending that Section 234 (E) of the Act is not a penalty. Penalty is levied under Section 271 (H) and is not automatic. Penalty is levied only when tax is deducted at source along with interest fee is not deposited […]
Assessee-sole proprietor was not eligible for a tax deduction for his own education expenses as the same could not be treated as business expenses and the point in time when the expenditure was incurred, the business of the assessee was not set up.
Shakti Hormann Pvt. Ltd. Vs DCIT (ITAT Hyderabad) We find that the assessee is not benefitting in any way by not filing the appeal in time before the Tribunal. The assessee has explained the reasons as misplacement of papers by one of the office staff. This is one of the possible reasons for not being […]
Jupudi Venkateswara Rao Vs ITO (ITAT Visakhapatnam) Ld.CIT(A) has given a clear finding that the assessee failed to produce the purchases book, stock register etc to verify the purchases or the unaccounted sales, the assessee has taken a different stand before the ITAT and argued that the difference was not related to purchase and sales […]
DCIT Vs TATA Power Delhi Distribution Ltd. (Delhi High Court) Assessee is under a statutory obligation to set apart 50% of the excess amount generated due to the overreaching of the targets, for the purpose of the consideration of the DERC to fix the future tariffs either to give relief to the consumers or otherwise. […]
Analysis of Section 111A, 112 and 112A of The Income Tax Act, 1961 In this Article we shall discuss only about Shares, Debentures, Units of MFs, Units of Business Trust only. Let us now analyse each section one by one: Section 111A (CG on transfer of Short Term Capital Assets) Applicable to: All Assesses CG: […]
Technimont Pvt Ltd Vs ACIT (ITAT Mumbai) It is only elementary that merely because a section is amended or even substituted, whether by repeal of the legislation itself or by amendment in the legislation, the notifications, circulars and instructions issued therein do not cease to hold good. Section 297(2)(k) of the Income Tax Act, 1961, specifically […]
