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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 Tribunal ruled that a clerical mistake in the DRP's order could not justify sustaining a ₹10 lakh addition. It held that the...
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 : 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...
MINISTRY OF FINANCE (Department of Revenue) ( CENTRAL BOARD OF DIRECT TAXES) Notification No. 45/2018-Income tax New Delhi, the 14th September, 2018 S.O. 4859(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the […]
MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) ( CENTRAL BOARD OF DIRECT TAXES) Notification No. 44/2018-Income tax New Delhi, the 14th September, 2018 S.O. 4858(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said […]
Shri Vicky Jethani Vs ITO (ITAT Jaipur) We note that the assessee has claimed the gift of Rs. 8,00,000/- received from Smt. Poonaj Kanjani stated to be the Aunt of the assessee and non-resident Indian based at UAE. In support of the claim, the assessee has furnished the Bank Certificate of Bank of Baroda regarding […]
1.It has been heard that many organisation has given representation to extend date of Tax Audit report under Income Tax Act till 31st October (including ICAI). 2.But we request you to consider following points and extend it till 30th November otherwise it will be a half hearted fruitless extension.
Shri Digamber Jain Bees Panthi Ajmeri Amnay Panchayat Bada Dhada Vs ITO (ITAT Jaipur) When the income of the assessee has been assessed under the head ‘Income from other sources’ and there is no provision U/s 56 to 58 of the Act to make a disallowance U/s 40(a)(ia) of the Act prior to the amendment […]
Where the JCIT/ACIT has only recorded Yes I am satsfied then, it has to be held that the approving authority has recorded satisfaction in a mechanical manner and without application of mind to accord sanction for issuing notice u/s. 148 of the Act for reopening of assessment and in this situation initiation of reassessment proceedings and reopening of assessment has to be held as invalid and bad in law.
Champa Devi Vs Tax Recovery Officer (TRO) (Madras High Court) In the instant case, the respondent has issued the impugned notice and the petitioner has straightaway approached this Court and filed this writ petition. In my considered view, this writ petition is not the proper remedy, which the petitioner should have availed. In this regard, it is relevant […]
Dear Friends, below is my analysis on why GST should be excluded from Rs 50 lakhs threshold u/s 194IA. This principle can be applied for entire chapter XVII-B (TDS section), where threshold is to be arrived at. The wordings used in sec 194IA is “…any sum paid to transferor by way of consideration for transfer […]
ICAI has further requested CBDT to extend time for submission of Tax Audit Reports and related returns from 30th September, 2018 to 31st October, 2018 as CBDT has not followed Norms of Earlier Years of discussing Important Changes in Tax Audit Report with ICAI, there was Constant changes in Utilities relating to Tax Audit Forms, […]
ICAI requests CBDT for extension of Due Date for submission of Tax Audit Reports and related Income Tax returns from 30th September, 2018 to 31st October, 2018. Read ICAI Representation on extension of Tax Audit Due Date, Dated: 17th September 2018 Read ICAI Representation on extension of Tax Audit Due Date, Dated: 10th September, 2018 […]
