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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...
It is evident that the benefit of first proviso would be allowed only if the condition as stipulated in second proviso is satisfied. In other words, the stamp value on the date of agreement to sell shall be considered as full value of consideration only if the amount of consideration or part of such consideration was received by the assessee through banking channel on or before the date of agreement for transfer. This issue, therefore, needs detailed factual verification.
Chief Justice of the Punjab and Haryana High Court, hereby designates the Court of Chief Judicial Magistrate in each Sessions Division in the States of Punjab and Haryana and the Court of Chief Judicial Magistrate in the Union Territory of Chandigarh
As we know when we need for PAN, we apply for it through UTI / NSDL or any other media. But recently on 13th Feb. 2020, the Income Tax department brings a facility for Instant PAN allotment in near to real-time which is available free of cost. This facility is based on Aadhaar, which is […]
SPR & RG constructions Pvt. Ltd. Vs ACIT (ITAT Chennai) The issue under consideration is whether the reasons for reopening of assessment u/s 147 are justified? The reasons recorded for reopening are on the basis of the audited accounts of the assessee i.e., specifically perusal of Schedule 30 of the profit and loss account and […]
The issue under consideration is that, when two views are possible and A.O. adopt one of the view and passed his order accordingly. But that view is not acceptable by PCIT, in such case can PCIT adopt its one of the other views and call the order of A.O. the erroneous?
BRIDGING THE DISPUTE-TRUST DIVIDE for Minimizing Tax-related Litigation Avail this golden opportunity … Settle your Income Tax disputes KEY DATE Pay by 31st March, 2020 to avoid higher payment ELIGIBILITY Appeals/ writs filed on or before 31.01.2020 and pending. Orders for which lime for filing appeal has not expired on 31.01.2020. Cases pending before Dispute […]
Article explains Direct Tax Vivad Se Vishwas Bill, 2020 alongwith Further amendments proposed in the same in Cabinet Meeting on 12th February 2020 for which Notice also been given to Parliament subsequently. Article explains Key Dates under the Scheme, Definition of Appellant under Direct Tax Vivad Se Vishwas Scheme, Designated Authority, Declarant under the Scheme, […]
Understand the penalty provisions of section 272BB of the Income Tax Act for non-compliance with section 203A provisions.
The issue under consideration is whether the advance received towards sale of property falls within the meaning of commercial and business purpose and can be treated as deemed dividend without considering the true nature of the transaction?
Milk crumb was marketable and hence assessee-cadbury was liable to pay excise duty for clearing goods without payment of duty as revenue neutrality could never be ground for not demanding the duty on the excisable goods in the form and manner they were being cleared by assessee.
