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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...
High Court was not justified in its remarks against the petitioner and in issuing the directions which it has issued. The High Court, in the course of its judgment has issued a slew of directions including: (i) The necessity of weeding out ‘deadwood’; (ii) imposition of costs of Rs. 1.5 lakhs which are to be apportioned among two officers, out of them being the petitioner; (iii) Making an adverse entry in the Annual Confidential Reports of the petitioner; and (iv) Denial of promotion including monetary benefits to the petitioner.
Income Tax Calculator for Financial Year 2018-19 in Excel for Salaried Individuals in India Though I am uploading the Tax Calculator after the end of the Financial Year, this may be useful to cross verify the figures while filing the ITR and you may want to include the Income from House Property, Income from Capital […]
It’s my pleasure to publish this e-book on In-depth Analysis of I T Returns AY 2019-20. This e-book is an attempt to summarize the relevant changes in All ITRs except ITR-7. Comments are also given at relevant points regarding logic of introduction or omission of some parts in ITRs. Some drafting mistakes in ITRs are […]
Provisions pertaining to Set-Off and carry forward of losses are divided in 3 parts: Part 1 deals with Set off of loss from one source against income from another source under the same head of income.(Section 70) Part 2 deals with Set off of loss from one head against income from another head (Section 71) […]
The Form 16 format has been revised by the Central Board of Direct Taxes (CBDT) and is applicable from 12th of May. The format specified in the notification comes is effective from May 12, 2019, which is well before the last date for issue of Form 16 for salary by employers. Therefore, those issuing Form […]
Since assessment originally made was unabated on the date of search and assessment under section 153A was framed without any incriminating material found during the course of search,therefore, the same was not valid.
Income Tax Department conducted search and seizure operations at 5 locations in the Kashmir Valley on 25.04.2019. The searches were carried out against a group which is a monopolistic wholesale distributor of pharmaceuticals in the Kashmir Valley.
The Income-tax Department has notified ITR Forms for A.Y 2019-20. The forms introduced seek more details as compared to previous years. Below is a list of changes brought in ITR Forms in simplified form including additional details required under each category of taxpayer. Also Read- CBDT notifies ITR for A.Y. 2019-20 / F.Y. 2018-19 and […]
The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. Various TDS rates on various incomes have been prescribed under the Income-tax Act. This write up […]
Golden Gate Properties Ltd Vs DCIT (Karnataka High Court) Section 278AA makes it clear that in order to get over the penal consequences that follow on account of non-payment of tax deducted at source, it is open for the accused persons to come clean of the said charge by showing reasonable cause for failure to […]
