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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 : 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 : ITAT Ahmedabad held that WhatsApp chats indicating suppressed production for one month could not be extrapolated to the entire fin...
Income Tax : ITAT Kolkata held that the Assessing Officer was required to refer the property valuation to the DVO when the assessee disputed th...
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 rental income earned by the assessee is taxable under the head “Income from House Property” as claimed by the assessee in the return of income or under the head “Income from Business” as held by the AO in the assessment order.
Huawei Telecommunications (India) Company Private Limited Vs Union of India and others (Punjab and Haryana High Court) he note of approval of the Principal Commissioner was also perused by us, the only reason mentioned was that there was an amount outstanding of Rs. 5 crores odd against the petitioner and for the said reason, the […]
In this article we tried to clear confusion for TAX AUDIT APPLICABILITY from AY 2020-21. Hope you all find it useful, Please give your valuable feedback. & do lt me know if any error. Thanks in advance. The finance Bill, 2020 has brought a major amendment to section 44AB of Income Tax Act, 1961. Moreover, […]
Income from cloud services was neither taxable as ‘royalty’ nor as ‘fees for included services’ as the customers did not operate the equipment or have physical access to or control over the equipment used by the assessee to provide cloud support services and did not make available technical knowledge, experience, skill, know-how etc.
Reassessment was not justified wholly on the basis of a sworn statement recorded in the course of survey in the absence of any other tangible evidence available with the Assessing Officer as the materials collected and the statement obtained under Section 133A would not automatically bind upon the assessee.
CLARIFICATION REQUIRED AFTER Circular NO. 7 DT 4-3-2020 on VIVAAD SE VISHWAS SCHEME, 2020 1. As per the scheme appellant will file a declaration before “DA” on prescribed form and “DA” will take 15 days to file issue certificate under 5(1) and then within 15 days the tax is to be deposited. This will defeat […]
Please refer the order issued in the case of Kunal Structure (India) Private Limited Vs DCIT (Gujarat High Court) for the validity of issuing scrutiny notice under section 143(2) for the return filed under section 139(9). Let us analyse the provisions of the sections to understand the order. According to the section 143(2), an Assessing […]
Transfer Pricing Compliance Chart for Financial Year 2019-20 which includes Transfer Pricing Audit, Transfer Pricing Study- Documentation, Return of Income (Having applicability of Transfer Pricing Provisions), Master File, Intimation by a designated Constituent Entity, Intimation by Designated Constituent Entity and CbCR. Activity Section / Rule Form No. Old Deadline New Deadline Remarks Transfer Pricing Audit […]
The Agreement refers to the US parent company of the Assessee having acquired license to use EDA tools from the vendors and the right of the Assessee to use the same and the fact that billing will be done on the Assessee on the basis of actual use of the software by the Assessee. It is thus clear that the Assessee had acquired no right or interest whatsoever in the EDA tools and had only a right to use the software. It is not the case of the revenue that the EDA tools was not connected to the business of the Assessee. In such circumstances, we are of the view that the deduction was rightly allowed by the CIT(A) as revenue expenditure.
Some times we found difficulties while registering with e-filling website. When we enter the Permanent Account Number (PAN) for registration purpose and other details, it shows error in name , that it’s not matching with the data registered with IT department. What to do? How to know the name of the person, which matches exactly with Income Tax Records? Here we would discuss two methods by which we can know the name of person exactly the same as in Income Tax records if we have his PAN.
