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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 ITAT Ahmedabad upheld the disallowance of employees' PF/ESI contributions deposited beyond the due dates prescribed under the ...
Income Tax : Tribunal held that allegations relating to client code modification did not justify adding the entire purchase value under Section...
Income Tax : ITAT Delhi held that an assessment framed after an approved merger in the name of the amalgamating company was without jurisdictio...
Income Tax : ITAT Mumbai allowed deduction of ESOP expenses under Section 37(1) by following Karnataka High Court's ruling in Biocon Ltd. Tribu...
Income Tax : The ITAT Pune upheld the deletion of an addition made by extrapolating a small unreconciled difference in Form 26AS to the entire ...
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...
Sree Sankeswara Foundations and Investments Vs ACIT (ITAT Chennai) The appellant namely M/s. Sree Sankeswara Foundations and Investments is a Partnership firm constituted under the Partnership Act. It is engaged in the business of real estate. The return of income for the AY 2016-17 was filed. Against the said return of income, the assessment was […]
Registration for EPFO & ESIC for new Public and Private Limited Companies and One Person Company has been stopped on Shram Suvidha Portal from 15.02.2020. With effect from 15.02.2020, new Public & Private Limited Companies and One Person Company shall get registration number for EPFO and ESIC on MCA portal (www.mca.gov.in through Spice+ and AGILE-PRO […]
On the staff welfare and infrastructure front, the persistent efforts of all officers concerned in the Ministry, DGHRD(Infra.), and those in the field formations of Hyderabad and Jaipur CGST Zones, have culminated in the administrative approval and expenditure sanction for the purchase of land measuring 3 acres, at the cost of Rs. 58.37 Crores, for construction of the office building for CGST Ranga Reddy Commissionerate and Audit-I & Audit-II Commissionerates and construction of the office building for CGST Commissionerate, Audit Circle, Export Promotion Circle and guest house at Udaipur at the cost of Rs. 42.07 Crores. Congratulations to all of them.
Direct Tax, Vivad se Vishwas scheme covers the case where the writ petition has been filed by the taxpayer before appellate forum i.e. High Court or Supreme Court.
As dividend become proposed to be taxable, litigation u/s 14A (Expenses incurred in relation to exempt income) now will be reduced. However, deduction of interest as proposed u/s 57 may lead to kind of litigation as was there u/s 14A.
As we know that employers use to contribute to the retirement benefit schemes of employees to enable them to maintain a quality life after retirement. Generally these contribution by employer can be in any one or in combination of following three forms: 1. Contribution to PF (Provident Fund) of the employees (Recognised PF, Unrecognised PF […]
A. Summary of Income Tax Notifications and Circulars for February 2020 1. Notification No. 11/2020 dated 13/02/2020– CBDT notifies (Rule 114AAA) prescribing that PAN will become inoperative if a person, who has been allotted PAN as on the 1st day of July, 2017 and is required to intimate his Aadhaar number under section 139AA(2), has […]
Residency Rule √ Generally residential status can be of two types: 1. Resident ⇒ ROR ⇒ NROR 2. Non resident Note: Condition of ROR and RNOR applies only to Individual and HUF Residential Status of an individual *NOTE: Here PIO =Person of Indian Origin PY = Previous Year ROR = Resident and Ordinary Resident […]
CBDT prescribed form No. 15G & 15H for Declaration under section 197A (1)(1A), for an individual or a person (not being a company or a firm) claiming certain receipts without deduction of TDS.
The CBDT has vide press release dated 30.12.2015 made announcement regarding electronic filing of appeal before the Commissioner of Income Tax (CIT (A)). Thereafter, vide notification no. 11/2016 dated 01/03/2016, the concerned rule (i.e., new rule 45 substituted for old rule 45) has been notified. Object Behind Introducing Electronic Filing : The e filing of […]
