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Income Tax : The article clarifies that the CBDT's 4 June 2026 instruction governs six categories of compulsory manual scrutiny and is distinct...
Income Tax : The article explains how India's Place of Effective Management (POEM) rules may treat a foreign company as an Indian tax resident ...
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 : 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 Mumbai held that reassessment proceedings initiated on the basis of information arising from a search in the case of a th...
Income Tax : The Tribunal ruled that although CSR expenditure is not allowable under Section 37, eligible donations made to recognised institut...
Income Tax : The Tribunal held that penalty under Section 271D could not be levied because the Assessing Officer failed to record satisfaction ...
Income Tax : The Tribunal held that penalties under Sections 271D and 271E could not be sustained because the Assessing Officer failed to recor...
Income Tax : Smt. Pavithra Sugichandran Vs Office of the DCIT (Madras High Court) The Madras High Court considered six writ petitions challengi...
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...
Shri Rajasugumar Subramani Vs ITO (ITAT Bangalore) Provision in section 54F comes w.e.f. 01.04.2015 according to which it was clarified that the residential house is to be acquired only in India meaning thereby before this amendment it was not clear as to whether the benefit of section 54F can be given to residential house acquired […]
It has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions.
This Article explains how to save tax in a private limited company. It explains various legally permissible ways in which you end up saving a lot of income tax. Company is an artificial person created by law. it is clothed with many rights, obligations, powers and duties prescribed by law. What is a Private limited […]
e-Assessment – Electronic assessment, also known as e-assessment, online assessment, computer assisted/mediated assessment and computer-based assessment, is the use of information technology in various forms of assessment. Electronic assessment under Income Tax have certain Advantages and Disadvantages. Advantages of Electronic assessment under Income Tax includes Faceless assessment reduces chances of corruption, Saves time and efforts, […]
The Income Tax department has notified the Income tax Return (ITR) Forms for F.Y. 2019-20 on January 3, 2020. Here’s a list of the 6 key changes introduced in the ITR1 for financial year 2019-20. ♦ Passport details In this year’s ITR-1, taxpayers will have to provide their passport number (if they have one). This […]
The income tax department in its grapple to make GST regime an ideal tax mechanism has launched many reforms like single indirect tax mechanism, completely faceless/digital tax compliance, simple TDS deduction system, and a lot more. Apart from that, if any inconvenience in tax compliance is witnessed by the government then due dates for the […]
The Central Board of Direct Taxes (CBDT) has recently notified two Income Tax Return (ITR) forms for the assessment year 2020-21. Usually, the tax department issues new ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old tradition, it has notified two ITR forms ITR-1 and […]
CIT Vs Endeka Ceramics (India) Pvt. Ltd. (Karnataka High Court) Admittedly in the instant case, the industrial undertaking of the appellant-assessee is not located in the Industrial Backward District, which has been mentioned in the Notification issued by the Central Government. It is pertinent to note here that the first Notification was issued by the […]
During the past year 2019, CPC (TDS) released a host of useful utilities at TRACES, including the following- 1. DIN Verification Functionality on TRACES Homepage wherein taxpayer can verify communication received from the department. 2. Aadhar based authentication in CPC (TDS) as additional authentication mode for TRACES users. 3. Form 16 – Part B generation […]
Stay updated with the latest income tax changes for December 2019. Learn about Form No. 10DA and claiming deductions under section 80JJAA.
