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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...
30 years is too small a time for a nation but for a tax payer in USA, the tax return for individual for the year 2018, popularly known as 1040 has been changed forever. With lot of discussions and clarity, and building block approach, as Internal Revenue Service, the income tax wing of American Government […]
The New IT return forms has been made applicable for the FY 2018-19 and new changes/additional information required will not only bring more transparency but also help in automatically validating or cross-checking the income and other details that the tax authorities may have from other sources.
Mercury Car Rentals Pvt. Ltd. Vs DCIT (ITAT Kolkata) During the course of assessment proceeding, the AO observed that assessee failed to reconcile interest income to the extent of Rs.67,939/- with its books of accounts and therefore added back the said amount as undisclosed interest income of the appellant as shown in the Form 26AS. […]
The Election Commission of India expresses its deep sense of anguish about the casual and trivial manner in which the advisory to be absolutely neutral, impartial and non, discriminatory has been responded to by Department of Revenue, Ministry of Finance vide letter F. No. A.50050/15/2019-Ad. I dated 08.04.19.
There was no merit in the argument that while a partnership deed is to be registered, amendment thereto is not. Amended salary clause being neither stamped nor registered, it was not admissible in evidence in a court of law, i.e., as a legally enforceable contract. Therefore, AO could not be faulted with for not giving cognizance to such a document and disallowance of remuneration paid to partner as made by AO was justified.
Mercury Car Rentals Pvt. Ltd. Vs DCIT (ITAT Kolkata) It is noted that the provisions in respect of gratuity, leave encashment, ex-gratia & bonus were created on actuarial basis and had been estimated with reasonable certainty. Accordingly such provisions cannot be said to be provisions of unascertained liabilities so to add it back under clause […]
Papers seized fro the premises of Group Company could not be relied upon for making additions in the hands of the assessee whose names appeared in the said documents.
Shri Rajeshkumar Navnitlal Dani Vs ITO (ITAT Ahmedabad) Provision of sec. 10(5) of the Act only that reimbursement of travel concession or assistance to an employee is exempted which was incurred for travel of the individual employee or his family members to any place in India and nowhere in this clause it had been stated […]
Ms. Sachi Sarees Vs ACIT (ITAT Kolkata) There is no law which prohibits a person to work in more than one partnership firms and draw remuneration therefrom. All that Section 40(b) requires is that the remuneration should be paid to a working partner and there is no prohibition either in the Income-tax Act, 1961 or […]
The Chamber of Tax Consultants Vs CBDT (Bombay High Court) 1. These Petitions involve similar issues. The Petitioners have challenged certain portion of the central action plan formulated by the Central Board of Direct Taxes (‘CBDT’, for short). This document contains Chapter 3 pertaining to litigation management. This Chapter provides the target for Appeals to […]
