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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...
This article tries to develop a working guide to the officers on the issue of payment to non-residents. The fundamental point to be examined by the Assessing Officers in connection with disallowance under section 40(a)(i) of the Income Tax Act of any payment to a non-resident is whether the sum is taxable under the provisions of the Income Tax Act or not. The next point is whether the non-resident is entitled to treaty benefit to escape source-country taxation or not. With quick reference to the relevant sections of the Income Tax Act and the relevant articles of a typical treaty, two particular expenses, viz, software payments and export commission are picked up for further analysis. A check list is also prepared for guidance of the Assessing Officers. The need for co-ordination between the Assessing Unit and the TDS Unit of International Taxation is also highlighted.
In spite of already existing similar provisions under section 194-I of the Income Tax Act, 1961, with a view to widen the tax base, the new section 194-IB of the Income Tax Act, 1961 was introduced vide the Finance Act, 2017. The provisions of section 194-IB were made effective from 1st June 2017. Section 194-IB deals […]
Where the property or any part of the property is let and was vacant during the whole or part of the previous year and owing to such vacancy, the actual rent received or receivable is less than ALV, the sum so received or receivable during the year is less than the sum received or receivable during year shall be annual value, then no deemed rent could be assessed.
With the increase in the complexity and growing enterprise landscape, a number of IT companies engage in creation of databases and soft wares and have also entered in the business of data collection and data systemisation. In return, these vendor companies charge annual subscription fee that can be defined as the amount of money the vendors charge on a consequential basis for providing periodic access to their database and software.
Its that time of the year when usually, people are finding various ways and means (people knowing to file return) to get their Tax returns filed by either Chartered Accountants or someone who has some knowledge of it and regularly files their return of income over a period of years. However, thanks to the Central […]
Priyabrata Pramanik Addl. Commissioner, Tax Policy Research Unit Department Of Revenue, Ministry Of Finance pbpramanik@gmail.com Sri Priyabrata Pramanikhas done his Masters in Physics with specialization in Electronics from Jadavpur University, Kolkata. He belongs to IRS (Income Tax) and currently is working as Additional Commissioner, Tax Policy Research Unit, in the Department of Revenue. His area […]
Once an agreement to sell is executed in favour of some person, the said person gets a right to get the property transferred in his favour and, consequently, some right of the vendor is extinguished. Therefore, the agreement to sell which had been executed on 13th August 2010 was considered as the date on which the property, i.e. the agricultural land, had been transferred instead of 3rd July 2012 on which the sale-deed came to be executed and assessee was entitled to claim the benefit of section 54F as it had invested in purchase of residential house on 22nd April 2010 which was within the prescribed time limit.
Author in this article discusses potential problems in the proposed faceless assessment. IT has been on the cards of the Government for quite a few times.
Chandana Ramachandran Commissioner of Income Tax ( LTU), Bangalore chandana.r.chandran@incometax.gov.in Ms Chandana Ramachandran belongs to the 1990 Batch of Indian Revenue Service, presently posted as the Commissioner of income Tax (Large Taxpayer Unit), Bangalore. She has served in various capacities in the department, her longest tenures being in the fields of Training, Transfer Pricing and […]
Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh). The group, controlled by persons who have significant political presence in a neighbouring State for decades and are occupying responsible political positions, has been generating large amounts of undisclosed income over several […]
