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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...
ITO Vs M/s. Lakshdweep Development Corporation Limited (ITAT Cochin) Interest on delayed payment of VAT and TDS is only compensatory and is not penal in nature. Therefore, the CIT(A) has correctly deleted the disallowance made for the interest expenditure claimed on delayed payment of VAT and TDS. FULL TEXT OF THE ITAT JUDGMENT These appeals […]
Aditya Birla Power Company Limited Vs ACIT (ITAT Mumbai) The undisputed position that emerges out of the above discussion is that the assessee undertook a project and incurred certain expenditure which was reimbursable to him along with development fees upon financial closure of the project. However, the project was ultimately aborted by the assessee and […]
Article discusses Compliance Requirement under Companies Act, 2013 and under Regulation 55A of the SEBI (Depositories and Participants) Regulations, 1996 considering Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 notified on 10 September 2018 effective from 02nd October, 2018.
Whether Additions u/s 68 merely on the ground that the assessee could not produce the directors of the share subscribing companies is sustainable.
People employed in organised sector and with governments receive gratuity at the time of their retirement/death. Gratuity also becomes payable on termination of services. The gratuity becomes payable only if one has service for continuous five years with the same employer. Though many of your might have received gratuity but most of you are not aware as to how the gratuity is calculated. This article deals with how the gratuity is calculated as well as its taxation part.
India being a G20 Country is committed to implement the minimum standards laid down in the Base Erosion and Profit Shifting (BEPS) Project. One of the minimum standards that every participating jurisdiction has to achieve is to ensure a Transparency Framework for spontaneous exchange of rulings under BEPS Action 5.
In the previous Article(s)- HOUSING ASSOCIATION -Mutuality Principle- Supplement I & “Mutuality’ – Doctrine of- A Critical Study it has been explained, at some length, as to why, in view of the applicability of the common law principle of mutuality, claim for tax exemption by a housing association cannot be rightly denied. And, why, by any reasoning or logic, the SC Judgment in Bangalore Club Case is not to be regarded as a ‘precedent’ (binding authority) for doing so.
House Rent Allowance exemption under section 10(13A) is allowed if Salaried individuals getting House Rent Allowance as part of salary and full fill below two conditions: He has taken a residential accommodation in which he resides on rent. He has not occupied such property in which he resides.
Gratuity is a monetary benefit given by employer to his employee after rendering a service of minimum of 5 years or more in his establishment. Gratuity act applies where 10 or more persons are employed or were employed on any day of the preceding 12 months.
The following essay will explain the meaning of depreciation and all the terms around it through a list and contrast the surrounding terms with the main concept of depreciation.
