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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...
Every Employer who is paying salary to his employee which is more then maximum amount exempt from tax has to deduct TDS on such Salaries Under section 192 of the Income tax Act,1961. While deducting TDS employers are faced with following questions
There are very few things in this world which are both Legal & Lethal. TAX is one of them. If tax provisions are not understood properly or tax is not paid in proper time, it is enough to give you hypertension. Moreover it is important to know what are the sections that affect your daily transactions and how these transactions are dealt with in Assessment proceedings. Hence it is very important to have some elementary knowledge of such Tax Provisions.
DCIT Vs Garhwal Mandal Vikas Nigam Ltd. (ITAT Delhi) It was observed that as per the Memorandum of Association/Article of Association the Chairman is appointed by the governor of Uttarakhand for such period and upon such terms and on such remuneration, if any, by way of salary or honorarium as the governor may think fit. […]
Bhawish Chand Sharma Vs Bawa Singh (Delhi High Court) The mutual agreement between the parties to disclose only a part of the consideration under the sale deed may attract other consequences for the parties. However, that by itself does not render the underlying transaction unlawful. Pertinently, it is not claimed that at the relevant time, […]
Tax Audit Report Form 3CA & Form 3CD in Excel format, along with the clause wise changes mentioned against each clause number as amended by Income Tax Notification No. 33/2018-Income Tax dated 20/07/2018 and Circular No. 6/2018 dated 17/08/2018.
A remarkable increase is seen in the number of ITRs in 2 categories ie ITRs filed by salaried Individuals (ITR-1& 2) as also those availing the benefit of the Presumptive Taxation Scheme(ITR-4).
The High Court has read the relevant clauses of the lease deed and has rightly come to the conclusion that payment which is to be made as annual rent is rent within the meaning of Section 194I, we do not find any infirmity in the aforesaid conclusion of the High Court. The High Court has rightly held that TDS shall be deducted on the payment of the lease rent to the Greater Noida as per Section 194I.
Kalpana Chimanlal Shah Vs ITO (Gujarat High Court) The Assessing Officer examined the petitioner’s declaration of sale of immovable property and resultant loss, which she claimed. The Assessing Officer called for the purchase and sale deeds as also supporting evidence for computation of capital gain. The assessee produced such documents and the approved valuer’s report assessing […]
ITO Vs Meera Thapa (ITAT Delhi) Assessee has sold agricultural land as it has been proved by the certificate of Tehsildar and other land records. He further held that merely because the land is declared as industrial land same cannot be held to be a capital asset and capital gain cannot be charged on sale […]
Mumbai ITAT Ruling – Section 92 of the Act is not an independent charging section to bring in a new head of income or to charge tax on income which is otherwise not chargeable under the Act. Accordingly, the ITAT held that, if no income accrues or arises or is received by the assessee under […]
