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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...
Sec. 194DA: TDS, on Payment in respect of life insurance policy, to be deducted by the insurer. Charging section: 194DA of Income Tax Act 1961. What section 194DA says? (Up to 31.8.2019) 194DA states, any person responsible for paying to a resident any sum under a life insurance policy, including the sum allocated by way […]
Issuing of notice under section 142(1) in the name of amalgamating company despite of the fact that AO was already known that amalgamating company having ceased to exist as a result of the approved scheme of amalgamation, that jurisdictional notice in the name of amalgamating company was invalid.
Assessee’s contention that assessee-charitable trust were not able to receive more amount by way of donation for their project in the third financial year 2017-2018 due to insertion of sub-section (7) of Section 35AC and therefore, Court may consider appropriate to invoke powers under Article 142 of the Constitution and allow assessee to receive
Precautions while preparing Income Tax Return (ITR) – Taxpayer has to first fill ‘Part A General’ (Personal Information) correctly. Rest of the utility will function based on information provided in Part A General. For example, the field 80 TTB will be enabled only for Senior citizens based on the Date of birth and Residential status […]
I am getting ‘invalid XML’ while trying to upload the xml? ♣ Invalid XML error may arise due to the following scenarios, 1. The taxpayer might have generated the XML file by using the older version of ITR utility. 2. The taxpayer might have altered or edited the XML file generated from the ITR utility […]
A. How to download and import prefilled XML to Excel ITR utility? Step 1: Go to Income Tax e-Filing Portal www.incometaxindiaefiling.gov.in Step 2: Login to the e-Filing portal by entering the User ID (PAN), Password and Captcha. Step 3: After Login, Go to ‘My Account’ menu and Click on ‘Download Pre-filled XML’. Step 4: In the ‘Download Pre-filled […]
How to Download and extract Excel utility of ITR Step 1: Go to Income Tax e-Filing Portal www.incometaxindiaefiling.gov.in Step 2: Click on ‘Income Tax Return Preparation Software’ link under the ‘Downloads’ section. Step 3: Click on the appropriate ITR’s Excel utility hyperlink. The ITR excel utility zip file will be downloaded successfully. Step 4: Open […]
Since the director was not a shareholder when bonus was paid to him and also the bonus was not paid out of the earlier years’ accumulated profits, therefore, deduction of bonus paid to director was allowable under 36(1)(ii).
Right to Information (Amendment) Act, 2019 received the assent of the President on the 1st August, 2019 and amends Section 13,16, 27.
Where notice under section 143(2) was not issued within the time limit prescribed in proviso to section 143(2), the assessment framed under section 143(3) pursuant to such notice was invalid and accordingly, the same was liable to be quashed.
