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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 Pune ITAT refused to condone a 661-day delay in filing an appeal against rejection of Section 12AB registration. It held that ...
Income Tax : The Pune ITAT deleted a ₹10 lakh addition after finding no reliable evidence that the assessee paid cash while purchasing a flat...
Income Tax : The Tribunal distinguished between lack of enquiry and inadequate enquiry, holding that Section 263 cannot be invoked merely becau...
Income Tax : The Tribunal ruled that rejection of Section 12AB registration merely because no expenditure was reflected in the financial statem...
Income Tax : The Tribunal ruled that loss of an old Section 12A registration certificate is only a procedural deficiency and cannot by itself j...
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...
Explore the flaws in conventional coercive tax recovery measures. This in-depth analysis highlights the need for a fresh approach to tax collection in our country.
ITO Vs Mukesh Champaklal Shah (ITAT Pune) The definition of capital asset excludes agricultural land and certain criteria have been placed in this statue to qualify the land as agricultural land. The facts on records demonstrate that both the parties have accepted the land to be an agricultural land. The 7/12 extracts clearly demonstrates the […]
After notification of the ITR forms various queries have been raised by the stakeholders in respect of filling-up of the ITR forms. In order to address such queries, following clarifications are issued. —
CBDT Further Enhances Monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court – Amendment to Circular 3 of 2018 – Measures for reducing litigation.
The Finance Bill 2018 reintroduced tax on LTCG made from listed shares and equity-oriented mutual funds. With Effective 1 April 2018, LTCG arising from the sale of these shares and equity oriented funds that are held for more than 12 months are taxable at the rate of 10% if such LTCG exceeds Rs.1 lakh in the given Financial […]
The last date for filing Income Tax Return is July 31st of every year (Extended up to 31st August 2019 for Assessment Year 2019-2020 and with few certain exceptions as provided above), which can be belatedly filed up to March 31. For example, Income Tax Returns for Assessment Year 2019-20 (Financial Year 2018-2019), can be filed belatedly till 31st March 2020.
Sharing of the profit or income under the agreement between the parties and assessee and 80% of the income was going to the commercial entities clearly established the intention of the parties in this arrangements being for profit were not solely for providing education, therefore, the benefit of Section 10(23C)(iiiad) was not available to assessee.
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 8th August, 2019 The following Act of Parliament received the assent of the President on the 8th August, 2019, and is hereby published for general information:— THE REPEALING AND AMENDING ACT, 2019 NO. 31 OF 2019 [8th August, 2019.] An Act to repeal certain enactments […]
Sri. Abdul Azeez M Vs ACIT (ITAT Cochin) Admittedly in this case, no audit report has been filed for assessment year 2009-2010. It is the contention of the assessee that there was a reasonable cause as mandated u/s 273B of the I.T.Act. It was submitted by the learned AR that consequent to search and seizure […]
When the commission paid to the non-resident agents was neither received or deemed to be received in India nor accrued or was deemed to accrue in India, no income was chargeable to tax under the provisions of the Act. When the payment made by assessee to the overseas agent for services rendered abroad was not income chargeable to tax in India, there was no obligation cast upon assessee to deduct tax at source under section 195 and consequently, the provisions of section 40(a)(ia) would not be attracted.
