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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...
APPEALS AND REVISIONS UNDER INCOME TAX ACT, 1961 The Constitution of India gurantees the citizens of the country certain fundamental rights. Therefore , under any system of rule of law, the right to appeal for redressal of one’s grievances is generally in built. Under the Income Tax Act, 1961 following two alternatives are available to […]
Background: The current tax system needs to be replaced due to the loopholes present. Presently, only 3% public of India pay Income Tax and rest 97% public regularly find newer ways to evade it because the burden of the tax is high. Straightaway one-third percent of a person’s income goes to govt. in form of […]
M/s. Kanchipuram Vaniga Vaisya-Dharma Paripalana Sangam Vs CIT (E) (ITAT Chennai) Admittedly, this application seeking registration u/s.12AA of the Act, was filed on 10.07.2014. The Sub-section 2 of Sec. 12AA stipulates that an order granting or refusing the registration under Clause-B of Sub-Sec.2 shall be passed before the expiry of the six months from the […]
Fast forward progress with timely TDS compliance e-file TDS statement for the quarter ended on 31st December, 2018 by 31st January, 2019 File your TDS Statement before the last date 31st January, 2019 to avoid late fee of Rs 200/- per day and penalty upto Rs. 1,00,000 DOWNLOAD TDS CERTIFICATE In Form 16A, containing 7 character TDS certificate number, mandatorily […]
How one becomes Non resident under Income Tax and FEMA and the implications of becoming Non resident? Though the word ‘non resident’ is used interchangeably but the tax laws and Foreign Exchange laws have different connotation of it as the purpose of both the laws is different. Let us discuss. Non resident under tax laws […]
For invoking the provisions of section 271(1)(c) of the Income Tax Act, satisfaction of the concerned income tax authority is must that any person has:- Either concealed particulars of his income OR Furnished inaccurate particulars of such income and such satisfaction must be arrived at in the course of any proceeding under the Act. Satisfaction […]
Irrespective of the period to which the quarterly return pertains, where the return is filed after 1.6.2015, the AO can levy fee under section 234E of the Act.
Non-compete fee received by assessee for signing of negative covenant for not carrying out a speciality business did not amount to transfer of right to carry on business, the consideration of which was liable to be taxed as capital gain.
Section 194-IB has been inserted by Finance Act, 2017 which provides the tax deduction on payment of rent by certain individuals / HUF with effect from 01-06-2017. The provision of section 194-IB are in addition to the existing provision for tax deduction on payment of rent under section 194-I of the Act.
The Finance Ministry has recently sent various notices to income tax return non-filers based on information and analytics generated by NMS. Such notices have been sent through messages, emails and physical letters based on details registered on non-filers PAN database available with CBDT records.
