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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...
A trust is said to be an instrument of safeguarding the interests of beneficiaries especially when the beneficiaries are minor and not capable of protecting their interest. Any person who is a major and is competent to enter into a contract can be a settlor or the person intending to form a trust. Why to create a private trust? How to register a trust? FAQs (frequently asked questions about trust)? Taxation of a private trust
So, here we are talking about the various tax benefits provided by the Income Tax Act, 1961 to the taxpayers who have taken housing loan. There are various deductions available under the Act for the payment of loan amount (principal) as well as the interest component the same includes home loan interest deduction under section 24, Section 80EE : Interest deduction (for 1st time buyers) on Home Loan, and Sec 80C (Tax benefit on Home Loan).
In this article we have discussed the procedure to Register as Legal Heir on Income Tax e-filing website, Process of Approval of Legal Heir by department, Documents Required for Registration as legal Heir, Services which Legal Heir can perform on e-filing website and Registration as Temporary and Permanent Legal Heir.
Below Procedure to take Foreign Tax credit (FTC) in India is Governed by Rule 128 of Income Tax Rules and Applicable form 01.04.2017. a. A resident assessee will be eligible to claim FTC if any tax has been paid by him in a country or specified territory outside India. b. Grant of FTC shall be […]
The GST Council held it’s 28th meeting recently and Shri Piyush Goyal, acting Finance Minister was the Chairman of this meeting. The Council took many decisions which are beneficial to the industry and business and which may serve as Diwali gifts to the consumers if the businessmen pass on the benefits of reduction in the rate of tax or increase in set off to them.
The CBDT has issued a directive to All Pr. Chief Commissioners of Income Tax seeking details of 2 least performing CsIT (Appeals). It is not specified as to what constitutes least performing. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 27th July, 2018 To, All Pr. Chief […]
This being the first quarter of the financial year, it is important, for all the people who want to receive interest without deduction of tax, to submit form no. 15G and 15G immediately to the banks Recently the in respect of particulars to be furnished and how to furnish these forms have been substantially amended. Let us discuss as to who can submit form no. 15G and 15H and the precautions to be taken while filing these forms.
Tax benefits to individual who are differently able, Parents who have dependents who are differently able including minor and certain benefits to private sector for providing employment opportunities to differently able
CA Neil Ganatra Any person responsible for paying income chargeable in the hands of recipient as ‘Salaries’ shall make TDS under section 192 of the Income Tax Act, 1961. The article discusses some basic aspects of the provisions of the section 192 related to deduction of TDS on Salary. The basic conditions that attract compliance […]
Now you can view tax credit statement (Form 26AS) without registering at NSDL through www.incometaxindiae filing.gov. in .New facility added in “My Account” for registered E-filers to View the Tax Credit Statement (Form 26AS) to verify if the tax payments made by you or TDS deducted from salary or interest etc are correctly reported to the Department.
