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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...
It has come to the notice of CBDT, through some media reports that Rs. 36 lakh have been recovered from a startup, namely, Travel Khana as part of recovery of outstanding demand on account of Angel Tax. It has been alleged that this was in violation of the CBDT instructions dated 24th December, 2018 pertaining to recovery of dues in Angel Tax cases.
Expenditure incurred by assessee on education of director was incurred in furtherance of assessee’s business interest and hence, allowable.
In this article, an effort has been made to contend that the cesses payable are a deductible expense under section 37(1) r.w. section 40(a)(ii) of the Income tax Act, 1961 (hereinafter referred to as the ‘Act’). It is well settled that the cess levied on indirect taxes is an allowable expenses and thereby the sole focus of the article lies on cess payable under the Income tax Act.
Mother Dairy Fruit & Vegetable Pvt. Ltd. Appeal: AO Failed To Establish A Legal Basis For The Addition On Account Of Disallowance Of Interest Expense, When The Assessee Had Not Even Claimed It As Expenditure Or Deduction, Addition Unjustified
Payment to non-resident towards purchase of advertisement space for resale to advertisers in India constituted ‘Royalty’ under section 9(1)(vi) and assessee was under an obligation to withhold tax under section 195.
Where assessee did permit developer to enter into premises and do all necessary things for construction of apartments and assessee handed over the possession, provisions of section 2(47) got attracted.
Merely because non-interest bearing advance was given to third parties, the same would not justify that the test of ‘commercial expediency’ was not satisfied by assessee. Hence, disallowance of proportionate interest made by AO was not justified, as the same was given for business purposes.
Compliance of TDS and TCS provisions is one of the important aspects for every business. However, it is also a tricky issue since there are so many provisions and also due to frequent insertion of new provisions. Non Compliance with these provisions leads to payment of Interest, Late Filing Fee, Penalties and also punishable with […]
Where assessee’s debtor directly made payment through banking channel to assessee’s creditor to square up their account, provisions of section 40A(3) would not be attracted.
Making of incorrect claim in law would not by itself amount to concealment of income or giving inaccurate particulars of income. Since revenue had not been able to show even remotely that there was any concealment of income or filing of inaccurate particulars of income, appeal was to be dismissed.
