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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...
Analysis of Section 79 of Companies Act, 1961 -Carry forward and set off of losses in companies Section 79 of the Income Tax Act, 1961 deals with the carry forward of losses for certain class of companies which satisfy the conditions specified in Sec.79 Below is the analysis on carry forward of losses in case […]
‘Acche din’ back for Indian Economy after recent Recent Reliefs in Income Tax and GST? In yet another surgical strike on bears and negative sentiments of the economy, the FM has tried to create an environment of surplus in the hands of corporates for making investments and ease their liquidity concerns. The Taxation laws (Amendment) […]
Analysis on reduction of Corporate Tax vide Taxation Laws (Amendment) Ordinance, 2019 1. The Government of India announced reduction in corporate tax rates for domestic companies in India with effect from F.Y. 2019-20. 2. A new section 115BAA has been inserted to reduce tax rate of 22% (excluding surcharge and education cess) for domestic companies. […]
Representation to CBDT requesting for extension of time for submission of Tax Audit Reports and related returns from 30th September, 2019 to 30th November, 2019 Section 44AB of the Income-tax Act, 1961 requires the assessee to get his accounts audited by an accountant before the specified date and furnish the same by that date, which […]
Education plays an essential role in the overall development of any country. In order to promote education, interest paid on an educational loan is allowed as a deduction under section 80E of the Income Tax Act. Provisions of section 80E are explained in the present article, along with the Frequently Asked Question. Deduction under section 80E – […]
Notification No. 72/2019- CBDT notified the Income-tax Authorities which shall exercise and perform, concurrently, the powers and functions of Assessing Officer, to facilitate the conduct of E-assessment proceeding in a centralised manner in respect of returns furnished under Section 139 or in response to notice under sub-section (1) of Section 142 during any financial year […]
The Government passed Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. Below are a few impact areas that the companies and investors will need to revaluate:
CTBA has requested for Extension of due date for filing of Tax Audit Report and Income Tax Returns of specified assessees to 30/11/2019
Sales Tax Bar Association requested to provide an extension upto November 15, 2019 for filing of income tax returns and tax audit reports by the assesses for whom the due date otherwise is September 30, 2019. Request is been made to Hon’ble Smt. Nirmala Sirtharaman, Union Finance Minister, Government of India. SALES TAX BAR ASSOCIATION […]
Deduction under section 80DDB of the Income Tax Act is available towards the amount actually paid for the medical treatment of the specified disease. The current article explains all the provisions attached with the said deduction along with the frequently asked questions. Eligibility of deduction under section 80DDB – For better understanding, the eligibility of deduction under […]
