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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...
Notification No. 43/2019-Central Government notifies ‘Tamil Nadu Real Estate Regulatory Authority’, an Authority constituted by the State Government of Tamil Nadu in exercise of powers conferred under sub-section (1) of Section 20 of The Real Estate (Regulation and Development) Act, 2016 (16 of 2016) for the purposes of section 10(46) of Income Tax Act, 1961. […]
Notification No. 42/2019- Central Government notifies ‘All India Council for Technical Education’, New Delhi, a Council established by the Central Government, in respect of the following specified income arising to that council under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 42/2019 New […]
Steps of Installation of Install Digital Signature certificate PFX file/Hard Token Requirement for usage of Digital signature certificate : ♣ Valid Digital Signature should be obtained from Third Party Vendor. ♣ Only class 2 or class 3 digital Signature certificates are allowed for the purpose of registration on TRACES. ♣ TRACES supports downloadable pfx files […]
Important information on Request for resolution Only registered Deductor can avail the facility of Request for Resolution under Online grievances module. Request for Resolution can be raised from FY 2007-08 onwards Deductor can upload the relevant documents along with the query Status of Tickets Open–Ticket is with TDS CPC and will be responded within the prescribed […]
E-Tutorial 1. Important Information for Validation of 197/195(3) Certificate. 2. Brief steps for Validation of 197/195(3) Certificate. 3. Pictorial guide for Validation of 197/195(3) Certificate. 1. Important Information for “Validation of 197/195(3) Certificate.” Deductor can validate 197 & 195(3) Certificate from TRACES. This facility is available from Financial Year 2007-08 onwards. 197 & 195(3) Certificate […]
Brief Steps for Online Correction-Personal Information This feature enables deductor to update his Personal Information in the statement. ‘Personal information’ should be updated with the latest information of the deductor. This is important as all the communication from TRACES will be done on the information available in the Personal Information of the Statement. Step 1: […]
Brief Steps for e-Tutorial Online Correction –Pay 220, Interest, Levy, Late Filing ♠ This feature enables deductor to set off Interest, Late filing default ♠ For example, If deductor wants to set off Interest and late filing default with a challan having available balance which is already there in the statement. Deductor can pick that […]
Important Information on Online Pan Correction in TDS/ TCS Statement All type of corrections like Personal information, Deductee details and Challan correction can be made using Online correction functionality available from FY.2007-08 onwards depending upon the type of correction This feature is extremely useful as it is : Free of Cost :TRACES does not charge […]
Condonation of delay in filing of Form no. 10B (audit report by trust/institution) for Assessment Years 2016-17 and 2017-18 by CBDT vide Circular No. 10/2019 dated 22nd May, 2019 subject to fulfillment of conditions prescribed by CBDT. Circular No. 10/2019-Income Tax F.No.197/55/2018-ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct […]
Understanding income tax rates in India: Learn about the concept of marginal relief and the inconsistency in the provisions of the Income-tax Act, 1961.
