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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...
Understand section 244A of the Income Tax Act, 1961. Learn about the changes since 1.4.1989 and how to claim interest on late refunds.
CIT Vs. M/s Gujarat Cypromet Ltd. (Supreme Court of India) The conversion of outstanding interest into loan does not amount to actual payment of the interest in order to qualify for deduction in view of the retrospective insertion of Explanation 3C to Section 43B of Income Tax Act, 1961. FULL TEXT OF THE SUPREME COURT […]
Shantam Bose Vs. Union of India (Kerala High Court) After the initiation of proceedings the petitioner was promoted to the post of Commissioner of Income-tax (Appeals) as per order dated 12.1.2012. According to him, the factum of his promotion to higher post is indicative of the fact that the official respondents are not considering the charges […]
Now days a question is coming to the mind of many professional that in case of an entity who has not entered into any of the Specified or reportable financial transactions in Financial Year 2016-17 but who falls into the class of person (reporting person) under Section 285BA Read with Rule 114E of Income Tax Rules, are they required to file NIL statement of financial transactions (SFT) in Form No. 61A.
In the era of globalisation, the world of Mergers & Acquisitions is witnessing rapid growth and the race amongst corporates to expand organically and inorganically is seeing significant momentum across the globe. Strategies that focus on core businesses or diversify into new businesses and markets, or even hive-off non-core businesses, are gaining momentum. This endeavour […]
In other words, the amount so incurred would be capitalized entitling the assessee to depreciation as per the eligible rate. The learned Members of the ITAT held that the facts of the instant case precisely fall within the ambit of Explanation 1 to section 32 and upheld the impugned order treating such amount as capital expenditure, eligible for depreciation.
Task Force for drafting a New Direct Tax Legislation- The term of the Task Force is extended by a period of two months i.e.. the Task Force may be allowed to submit its report by July 31, 2019.
Important Information on Challan Status – Deductor can check Challan status in case Challan is Unclaimed or Claimed. – Please Click on View your BINFor BIN details prior to FY 2013-14 – Deductor can check Challan status using BIN details or CIN details. – Deductor have two option taxguru.in for check Challan Status: √ Period […]
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Receipt of capitation fee by educational institution and non-recording thereof by assessee, educational trust, in regular books of account was in total violation of section 13(1)(c) and, therefore, cancellation of registration under section 12AA was justified.
