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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 found that the Assessing Officer failed to establish any specific infirmity in the assessee's business expenditure before...
Income Tax : The Tribunal held that only the profit element embedded in the disputed purchases could be taxed and affirmed a 2% estimation base...
Income Tax : The ITAT held that where transactions with the Indian associated enterprise are at arm's length, additional profit attribution to ...
Income Tax : The ITAT held that the incorrect payment date mentioned in the Tax Audit Report was an obvious typographical mistake and not evide...
Income Tax : The Tribunal ruled that application software purchased independently from computer hardware is still covered under the specific de...
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...
Eaton Industrial Systems (P) Ltd. Vs DCIT (ITAT Pune) Where assessee-company paid sales commission foreign of agents for securing export orders from the buyers abroad the services were not rendered by such foreign agents in India, and no part of the said income had arisen in India, therefore, TDS was not required to be deductible […]
As per section 44AB of the Income tax act, certain persons are required to get their accounts audited till 30th September by the CA and furnish a report of such audit in the prescribed form duly verified and signed by the CA.
Central Government has notified Sukanya Samriddhi Account scheme vide Notification G.S.R.863(E) Dated 02.12.2014 to secure the future of Girl Child and Scheme has got good response too from the Citizens of India, considering the Tax benefit and Higher Rate of Interest which Scheme was providing. Interest Rate on the Scheme been revised downwards from 01.04.2016 to 8.60 from earlier 9.20% per annum vide notification No. G. S. R. 352(E) Dated 29/03/2016.
Yes. First, the legal heir has to obtain a DSC in his own capacity. The DSC of the legal heir, so obtained can be registered in the ITD e-filing website as follows: The details of Legal heir and the deceased assessee, such as : PAN, First Name, Middle Name, Last Name, Date of Birth, Father’s First Name, Father’s Middle Name, Father’s Last Name, Mobile Number,
Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN.
If your company hasn’t given your Form 16, which gives details of your tax deducted at source (TDS), don’t fret yet. Taxpayers can check online if the tax deducted from the salary has actually gone to the department on a facility set up by the income tax (I-T) department. Also, in the absence of Form 16, a taxpayer can use this facility to get TDS credit details and file returns accordingly.
Reuters case: When a duty is cast on the payer to deduct tax at source, on failure of the payer to do so, no interest can be imposed on the payee under Section 234B of the Act
5 Checks before filing ITR-1- Check 1: Which ITR form to fill, Check 2: Salaried employees- Check your Form 16, Check 3: TDS and Form 26AS, Check 4: Declaring other Income (i.e. Income from house property and Other Sources) and Check 5: e-verification of return of income
As you are aware that at present, the activity of issuance of Form No.16A is distinct and independent of filing of e- TDS statement on quarterly basis and therefore the chances of mismatch, in certain cases, between TDS Certificate in Form No.16A and Form No, 26AS cannot be completely ruled out. To overcome the challenge of mismatch, the CBDT issued Circular No.3 dated May 13th 2011 , CBDT CIRCULAR NO-01/2012 dated 9th April, 2012 a
Section 40A(3) and Section 40A(3A) deals with Disallowance of 100% of expenditure if payment is made by any mode other than account-payee cheque or draft in the year of expense or in the subsequent year / Years. Article explains provision of Section 40A(3) and Section 40A(3A) of Income Tax Act, 1961. Section 40A(3) of Income Tax […]
