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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...
Order of attachment of bank account is prima facie without authority of law, as discussed hereinabove, and the order of blocking of credit is not backed by any statutory provision, the respondents are directed to forthwith withdraw the attachment of the bank account of the petitioner with the IDBI Bank, Prahladnagar Branch bearing Current Account No. 1024102000009874 and to unblock the credit of Rs.6,63,51,380/- available in the electronic credit ledger forthwith.
whether interest received u/s 28 of the Land Acquisition Act, 1894 on compulsory acquisition of agricultural land in the nature of compensation is exempt u/s 10(37) or chargeable to tax under head ‘Income from Other Sources’?
Since AO had completed the assessment in the name of a company which had merged and was not in existence on the date the assessment order was passed, therefore, the assessment was invalid and the same was not a curable defect under section 292B.
Addition made by AO on the ground that although assessee had claimed credit for TDS on the interest income from the bank corresponding interest income was not offered to tax by assessee during the year was justified as assessee was regularly following mercantile system of accounting interest income in question was liable to be taxed in assessment year in question itself.
CBDT extended the deadline for the filing of income tax returns (ITR) and Tax audit reports (TAR) to October 31, 2019 for the Assessment Year 2019-20. Read Order- CBDT extends due date for filing of Tax Audit Reports & Relevant ITRs The Central Board of Direct Taxes has extended the deadline for the filing of […]
CBDT Amends Income Tax Rule 10CB -Computation of interest income pursuant to secondary adjustments vide Notification No. 76/2019-Income-tax dated 30th September, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 30th September, 2019 Notification No. 76/2019-Income-tax G.S.R. 701(E).—In exercise of the powers conferred by sub-section (2) of section 92CE […]
New Direct Tax Code (DTC) ‘Assessing Unit’, not ‘Assessing Officer’ To check harassment by taxmen, individual ‘assessment officers’ are likely to be replaced with ‘assessment units’ to deal with individual taxpayers. Corporate taxpayers will also have assessment units including multiple officers along with industry specialists. All communication between taxpayers and taxmen will be digital. Uniform […]
Workflow management process is an essential functionality which is being used in many processes in ITBA to facilitate delegation of authority. The ‘delegate functionality’ in the ITBA which allows the users to delegate the work to their subordinate staff is made available in the ITBA.
Get a simplified version of income tax circulars and notifications from Feb-Sep 2019. Understand the clarifications and deductions related to Sec 80 TTB.
Deduction under section 80GGA of the Income Tax Act, 1961 is available to all the taxpayers in respect of donations made for specific scientific, social or statistical research or rural development. The present article covers the detailed explanation on deduction available under section 80GGA. Categories of persons eligible for claiming deduction under section 80GGA – Deduction under […]
