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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...
Many a time reassessment proceedings are quashed or additions made in such proceedings are deleted by the Appellate Authorities much to the dismay of the Assessing Officers. One prime reason for such adverse appellate orders are on the ground of ‘borrowed satisfaction’ in much as the drafting of recorded reason to initiate the proceedings does not bring out satisfaction of the Assessing Officer himself .
Surinder Jit Singh Chief Commissioner of Income Tax-3, New Delhi sjsingh59@gmail.com Surinder Jit Singh is graduate in Mechanical Engineering from Punjab Engineering College in 1981 and joined Income Tax Department in 1984 as an IRS officer and has worked at Chandigarh, Ludhiana, Pune, Bombay, Amritsar and at Delhi in various capacities including on the post […]
Assessee was entitled to exemption under section 54 even if he had not taken possession nor the purchase deed had been executed within the period of three years because the delay in obtaining possession and getting purchase deed executed was on account of the developer and was by reason beyond the control of assessee.
Ajai Das Mehrotra Pr. Chief Commissioner of Income Tax, Gujarat ahmedabad.pccit@incometax.gov.in Sh.Ajai Das Mehrotra, is an IRS officer of 1984 batch and is currently posted as Principal Chief Commissioner of Income Tax, Gujrat. He had worked extensively in the field of Assessment, Investigation and other direct taxation fields. He had attended 49th National Defence College […]
Addition under section 69B of unaccounted money invested in purchase of land by assessee by paying in cash to sellers of land was justified as assessee-purchaser had no evidence to controvert the same.
Section 194I was inserted vide the Finance Act, 1994. The present article covers the important section 194-I of the Income Tax Act, 1961, which deals with the provisions of ‘TDS on Rent’. Meaning of the term ‘Rent’ – Before going into the nitty-gritty of the provisions of section 194-I of the Income Tax Act, 1961, first […]
Mrs. A. Vijayakumari Vs ITO (ITAT Chennai) The provisions of section 54 of the Act are beneficial and are to be considered liberally for reasonable bonafide cause but investment in residential property is mandatory which is not in dispute in this case. The Assessing Officer was not justified in rejecting the case law relied on […]
Extension of timeline for completion of assessments in OCM cases where no return has been filed in response to notice u/s.142(1) of the Income-tax Act,1961(‘Act’) and the assessments have to be completed u/s.144 of the Act
Income Tax benefits on Housing Loan for Joint Owner of Rs. 2 Lakh each Section 24(b) of Income Tax Act, 1961 (amended) Conditions for claiming Interest on Home Loan ↓ 1. Income Tax benefits on a joint home loan can be claimed by all the joint owners. 2. Ownership is required for joint owners i.e. […]
> Form 24Q is categorised in to 2 categories Annexure 1- Annexure 1 of Form 24Q has to be filed in each and every quarter with the details of dedcutee wise breakup of TDS against each specific challan Annexure 2 Annexure 2 of Form 24Q has to be filed only in Quarter 4 with the […]
