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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...
CBDT further extends due date for filing of Income Tax Returns & Tax audit reports from 15th Oct,2018 to 31st Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018, after considering representations from stakeholders. Liability to pay interest u/s 234A of IT Act will remain. The due date for […]
Petitioner highlighted the difficulties faced by them in filing returns before the last date because of the recent flood ravage in Kerala State. So they wanted the last date for the filing of returns extended to 31.12.2018. The Department has, however, extended the period till 15.10.2018. Reckoning that period to be inadequate, the petitioners have filed this writ petition.
Central Government hereby notifies for exemption U/s. 10(46), ‘Uttaranchal Board of Technical Education, a board constituted by the State Act Uttaranchal Board of Technical Education Act, 2003 vide Notification No. 66/2018 Dated : 8th October, 2018.
Central Government hereby notifies for exemption U/s. 10(46), ‘Real Estate Regulatory Authority, Punjab’, an authority constituted by the Government of Punjab vide Notification No. 65/2018 Dated : 8th October, 2018. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th October, 2018 S.O. 5179(E).—In exercise of the powers conferred by […]
Lakesh Kumar Introduction :– From 1st June, 2013, the purchase of immovable property (other than rural agricultural land) is required to deduct tax at source as per provisions of section 194IA of the Income Tax Act, 1961. However this section applicable only when sale consideration of the immovable property more than 50 Lacs. This provision […]
Central Government hereby notifies for exemption U/s. 10(46),‘Madhya Pradesh Electricity Regulatory Commission’, Bhopal, a Commission constituted by the State Government of Madhya Pradesh vide Notification No. 64/2018 Dated : 8th October, 2018. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th October, 2018 S.O. 5178(E).—In exercise of the […]
Central Government hereby notifies for exemption U/s. 10(46), ‘Kerala State Electricity Regulatory Commission’, Thiruvananthapuram, a commission established by the Government of Kerala, vide Notification No. 64/2018 Dated : 8th October, 2018. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No. 63/2018 New Delhi, the 8th October, 2018 S.O. 5177(E).—In exercise of […]
Central Government hereby notifies ‘Karnataka State Unorganised Workers Social Security Board’, Bengaluru, a board constituted by the Government of Karnataka for exemption U/s. 10(46) vide Notification No. 62/2018 Dated 8th October, 2018. MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) Notification No. 62/2018 New Delhi, the 8th October, 2018 S.O. 5176(E).—In exercise […]
Securities Transaction Tax (STT), is the tax deduction that is applied to all your equity transactions. Introduced in the 2004 Union Budget by the then Finance Minister Mr. P Chidambaram, the deduction is to ensure that gains arising from securities transaction are taxed at source, thus preventing individuals from evading capital gains tax. So, what […]
Central Government hereby notifies Hyderabad Metropolitan Water Supply and Sewerage Board, Hyderabad, a board constituted by Government of Andhra Pradesh for exemption U/s. 10(46) vide Notification No. 61/2018 Dated 8th October, 2018. MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) Notification No. 61/2018 New Delhi, the 8th October, 2018 S.O. 5175(E).—In exercise […]
