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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...
Based upon credible information of large scale collection, possession and movement of unaccounted assets, Delhi Directorate of Income Tax (Investigation) initiated search and seizure action on a group in NCR, Bhopal, Indore and Goa. More than 300 IT officials participated in the operation at about 52 locations in 4 States.
The Government has made various changes under Income-tax Act wef 01.04.2019 by Finance Act 2019: The amount of tax rebate under Section 87A has been increased from Rs. 2,500 to Rs. 12,500. Further, it shall be available to a resident individual whose total income does not exceed Rs. 5,00,000. The limit of standard deduction for […]
DCIT Vs Ernet India (ITAT Delhi) Though assessee was charging subscription as well as consultancy fees on actual, the same did not result in to the conclusion, that it was carrying on its activities which could be termed as business, trade, or commerce. FULL TEXT OF THE ITAT JUDGEMENT The present appeal has been filed by revenue […]
Provisions of Section 142(2C) as they stood prior to the amendment which was enacted with effect from 1 April 2008 by the Finance Act, 2008 did not preclude the exercise of jurisdiction and authority by AO to extend time for the submission of the audit report directed under sub-section (2A), without an application by assessee. Thus, AO who prescribed time limit for filing auditor’s report under Section 142(2A) was also entitled to extend time limit even if extension was not sought by assessee.
KSS Limited (formerly known as K Sera Productions Ltd.) Vs Pr. CIT (Bombay High Court) Conclusion: Where the money was routed through AE by the assessee for the purpose of acquisition of distributorship, the back to back agreements, the contents thereof and most significantly, the fact that neither at the point of payment nor at […]
The Circular has extended the due date to 30 April 2019, for furnishing Country-by-Country Reports (CbCRs), in respect of reporting accounting years ending up to 29 April 2018. The earlier extended due date for such filing was 31 March 2019. This is applicable only to those constituent entities, whose parent entities are resident in USA.
Although the powers of the CIT(A) were co-terminus with that of the powers of AO, yet, it had jurisdiction only on those items which had been considered by AO irrespective of the fact whether the issue was subject matter of appeal or not.
Through this article an attempt has been made to explain the circumstances where the revisionary powers of the commissioners u/s 263 can be invoked when the order dropping penalty proceedings u/s 271(1)(c) of the I.T. Act, 1961 was passed by the Assessing Officer. In the case of M/s. DEF, an India Company, an order was […]
Author has examined the amended provisions of MAT under 115JB of Income Tax Act, 1961, as applicable to Companies following Ind AS for preparation of their Financial Statements. Illustrations have been given for a better clarity on practical application the provisions.
Discover the new IT return forms for FY 2018-19 and the increased transparency and automatic validation mechanisms introduced by CBDT.
