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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...
Due to amendment made in section 132 by the Finance Act, 2017 w.r.e.f. 1-4-1962 the reason to believe or reason to suspect, as the case may be, shall not be disclosed to any person or authority or appellate Tribunal as recorded, by IT authority under section 132 or 132A, therefore, assessment order passed was not bad in law on account of not furnishing any valid reason for conducting the search.
Sec 80CCD of income tax act 1961 provide deduction on contribution to Pension Fund setup by Central Government. An individual person can get deduction up to 2, 00,000 under this particular section. The provisions of this particular section is as follows:-
The Government of the Republic of India and the Government of the People’s Republic of China have amended the Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income, by signing a Protocol on 26/11/2018.
In partial modification of the earlier order, the Government has appointed Shri Akhilesh Ranjan, Member (Legislation), CBDT as Convenor of the Task Force. Other members of the Task Force remain unchanged.
Private Placement under Companies Act 2013, means any offer or invitation to subscribe or issue of securities to a select group of persons by a company (other than by way of public offer) through private placement offer cum application which satisfies the following conditions:-
Assessee had declared additional incomes when AO confronted with details of Form No. 26AS , it could not be said that declaration of income by assessee was voluntary, therefore, levy of penalty under section 271(1)(c) on account of concealment was justified, especially in view of the fact that similar income had been earned and duly offered to tax during earlier years also.
Notification No. 84/2018 M/s. Thalassemia and Sickle Cell Society has been approved by Central Government for clause (ii) of sub-section (1) of section 35 of Income-tax Act, 1961
Notification No. 83/2018 M/s Centre for Brain Research, Bangalore has been approved by Central Government for clause (ii) of sub-section (1) of section 35 of Income-tax Act, 1961
Issuance of notice under section 153C is mandatory and a condition precedent for taking action against assessee under section 153C, therefore, assessment order under section 153C issued without issuing a notice under section 153C was bad in law.
M/s. Neha Home Builders Pvt. Ltd. Vs DCIT (ITAT Mumbai) Since assessee was neither the beneficial nor the registered shareholder of the company, the amount so received is not liable to be taxed as deemed dividend. Moreover, the transaction between two group concerns were in the nature of current account and inter banking account containing […]
