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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...
Pr. CIT Vs Dreamcity Buildwell Pvt. Ltd. (Delhi High Court) In the present case, the Revenue is seeking to rely on three documents to justify the assumption of jurisdiction under Section 153 C of the Act against the Assessee. Two of them, viz., the licence issued to the Assessee by the DTCP and the letter […]
Before implementation of seventh Pay Commission, the ceiling under CC S (Pension) Rules, 1972 was Rs. 10 lakh which was raised to Rs. 20 lakhs by seventh Pay Commission.
Equalization levy and widening of tax base through the introduction of concept of Significant Economic Presence are the two measures which have been adopted by India for taxation of digital economy.
For some people, the tax-planning season has just started. You know that house rent allowance (HRA) and the deduction related to home loan repayment can lower your tax liability. You will be pleased to know, in certain cases, you can avail tax benefits from both of these.
The author states that the present world order is dominated by a conflict between two ideologies and their proponents: globalisation and local sovereignty. Globalists advocate borderless commerce, homogeneous world culture, and a rules-based world order (political globalisation).
Income tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial Year 2019-20 (relevant to Assessment Year 2020-21) for Resident Individual (Below 60 Years Old), HUF and AOP/BOI/Artificial juridical person, Senior Citizens (60 Years Or More […]
In Budget 2019, Honorable Finance Minister announced that ‘Those having taxable income of up to Rs 5 lakh will not have to pay any tax for FY 2019-20’. An individual who is resident in India and whose taxable income does not exceed Rs. 5,00,000 is entitled to claim rebate under section 87A. Rebate is available in […]
Order u/s 119 of the Income-tax Act, 1961 for Extension of due date for filing of Income-tax Returns/Tax Audit Reports to 31st January, 2020 in respect of Union Territory of Jammu and Kashmir and Union Territory of Ladakh. F. No. 225/306/2019-ITA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes […]
Shaurya Enterprises Vs State of U.P. (Allahabad High Court) It has been observed that till March 31, 2018 it was not mandatory to download the e-way bill from the official website and the said requirement was effective from 1st April, 2018. In this case the e-way bill which was downloaded and submitted on 10.12.2017 at […]
Usha Exports Vs ACIT (Bombay High Court) The first contention raised by Dr. Shivram regarding the absence of statement regarding petitioner’s failure in the reasons is correct. The reasons supplied along with the impugned notice, which are reproduced above, contain no assertion there was any failure of the petitioner to disclose fully and truly all […]
