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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
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 : 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 : 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...
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.
Rules 245–246 of the Draft Income-tax Rules, 2026 require the Income-tax Department to upload Annual Information Statements and prescribe procedures for valuer registration to strengthen tax transparency and compliance.
Rule 244 of the Draft Income-tax Rules, 2026 requires crypto-asset service providers to perform detailed due diligence and obtain self-certifications to identify reportable users and ensure accurate tax reporting.
Rule 243 of the Draft Income-tax Rules, 2026 mandates detailed reporting of crypto-asset users and transactions by service providers to ensure transparency and tax compliance.
Rule 242 of the Draft Income-tax Rules, 2026 mandates crypto-asset reporting and due diligence for service providers connected to India while allowing exemptions where equivalent compliance is completed in partner jurisdictions.
Rule 241 of the Draft Income-tax Rules, 2026 introduces detailed definitions for crypto-asset transactions, reporting crypto-asset service providers, and reportable users. The rule aims to strengthen AML and KYC compliance while enabling cross-border tax transparency through clear reporting obligations for crypto-asset activities.
The High Court held that a tax notice and assessment issued in the name of a company that had already merged into another entity were invalid. The ruling clarifies that once the tax authority is informed of a merger, proceedings must be issued in the name of the transferee company.
