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Income Tax : Guest lecture and teaching income is generally taxed on actual income, with Sections 44AD and 44ADA stated as inapplicable to such...
Income Tax : NRIs must file ITR if Indian income exceeds Rs. 4 lakh or to claim excess TDS refunds, with Section 87A rebate unavailable to non-...
Income Tax : Section 115BBH taxes VDA gains at 30%, disallows loss set-off, and Section 194S requires 1% TDS on eligible crypto transfers....
Income Tax : Section 50AA taxes specified debt mutual fund units acquired on or after 1 April 2023 at slab rates, regardless of holding period,...
Income Tax : RNOR under Sections 6 and 6(6) can keep eligible foreign income outside Indian tax during the transition period after an NRI retur...
Income Tax : ICAI has invited public comments on the Exposure Draft revising the Guidance Note on Tax Audit under Section 44AB by 25th July, 20...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
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 : ITAT Kolkata deleted the commission disallowance under Section 37(1), holding that non-service of Section 133(6) notices alone can...
Income Tax : ITAT Raipur quashed reassessment after holding that the Section 148 notice was issued by an officer lacking jurisdiction under CBD...
Income Tax : ITAT Mumbai remanded a Section 68 case after holding that the CIT(A) deleted the addition without examining investor financials or...
Income Tax : ITAT Agra set aside assessment framed against a mere legal heir after holding that Section 159 requires proof of legal representat...
Income Tax : ITAT Delhi upheld deletion of a Section 69 addition, holding land transactions were executed by the assessee as employers authoris...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
Rules 266–268 of the Draft Income-tax Rules 2026 define procedures for inquiries, replacement of Inquiry Officers, and grant civil court powers to authorities during disciplinary proceedings.
Rules 262–265 of the Draft Income-tax Rules 2026 prescribe the procedure for issuing a charge-sheet, conducting inquiries, and passing disciplinary orders against income-tax practitioners accused of misconduct.
Rules 258–261 of the Draft Income-tax Rules 2026 lay down provisions for cancellation of registration certificates, removal of practitioners from the register, and mandatory inquiry before disqualification.
Draft Rules 254–257 establish procedures for authorised representation, registration, and certification of income-tax practitioners under Section 515 of the Income-tax Act.
The Tribunal ruled that simultaneous proceedings arising from reassessment and revision for the same year could lead to multiplicity of proceedings and inconsistent findings. It restored the entire matter to the Assessing Officer for consolidated de-novo adjudication.
Draft Rules 252 and 253 specify the educational qualifications required for authorised income-tax practitioners and define “business relationship” to avoid conflicts of interest.
Draft Rules 250 and 251 of the Income-tax Rules 2026 define key terms related to income-tax practitioners and recognise specific accountancy examinations for eligibility under Section 515.
Draft Rules 248 and 249 under the Income-tax Rules 2026 prescribe the maximum fee structure that registered valuers can charge and mandate a standard valuation report format (Form No. 170).
Draft Rule 247 under the Income-tax Rules 2026 prescribes qualifications and eligibility conditions for registration as valuers for different asset classes. It aims to ensure professional expertise and uniform standards in tax-related asset valuations.
The Tribunal removed the transfer pricing addition on delayed receivables from associated enterprises, holding that the company’s profit margins exceeded comparable companies and interest was already embedded in pricing.
