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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 Pune ITAT refused to condone a 661-day delay in filing an appeal against rejection of Section 12AB registration. It held that ...
Income Tax : The Pune ITAT deleted a ₹10 lakh addition after finding no reliable evidence that the assessee paid cash while purchasing a flat...
Income Tax : The Tribunal distinguished between lack of enquiry and inadequate enquiry, holding that Section 263 cannot be invoked merely becau...
Income Tax : The Tribunal ruled that rejection of Section 12AB registration merely because no expenditure was reflected in the financial statem...
Income Tax : The Tribunal ruled that loss of an old Section 12A registration certificate is only a procedural deficiency and cannot by itself j...
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...
The Special Judge for CBI Cases, Mumbai (Maharashtra) has sentenced Smt. Sumitra Banerjee, then Additional Commissioner of Income Tax, Thane (Maharashtra) to undergo five years Rigorous Imprisonment with fine of Rs. 80 lakh & her husband Sh. Subrato Banerjee to undergo four years Rigorous Imprisonment with fine of Rs. 30 lakh and Smt. Anjali Bambole, then Assistant Commissioner of Income Tax to undergo five years Rigorous Imprisonment with fine of Rs. 40 lakh in a bribery case.
Transocean Offshore Deepwater Drilling Inc. Vs Addl. CIT (ITAT Delhi) CBDT itself in two of its circulars. In Circular No. 4/2008 dated 28th April 2008 it was clarified that Service tax paid by the tenant doesn’t partake the nature of income of the landlord. The landlord only acts as a collecting agency for Government for […]
Moreover, a perusal of the balance sheet of the assessee firm as at 31.03.2012 filed along with the return of income makes it abundantly clear that sufficient own funds in the form of partners capital were available with the assessee firm at the relevant time to give the loans in question free of any interest.
Huawei Telecommunication (India) Company Pvt Ltd, Vs ACIT (ITAT Delhi) In the trading and installation services of the telecom equipment, The assessee provides warranty to the buyers. As part of the contract with the customers, it is required to provide warranty services by way of repair and replacement for a predefined period. The obligation of […]
Ld. AR has challenged the order of Ld. CIT(A) in not allowing hearing of appeal filed by the assessee merely on the basis of alleged default of not having filed electronically.
The appeal by the assessee is directed against the order dated 09.03.2017 of the learned CIT(A)-40, Delhi. Following grounds have been raised in this appeal
Institute of Health Systems Vs ITO (ITAT Hyderabad) Assessee’s activity comes within the purview of exceptions provided sub-section (15) of sub-clause (i) for the reason that the activity of the assessee is testing of the water quality, which monitors quality in reservoirs and slum areas, for that, assessee has charged some fee and almost the […]
Where sundry creditors arising out of the purchases debited in the profit and loss account as revenue expenses, were added to income of assessee for want of the addresses of said creditors, that did not mean assessee had concealed the particulars of income or furnished inaccurate particulars of income, so as to impose penalty under section 271(1)(c).
Section 80 C provides for deduction of upto Rs. 1.50 lakhs in respect of life insurance premium along with various other items. For Life insurance premium the deduction can be claimed even where the payments are made for your children.
As the date 31st March comes closer tax assessees try to find different ways to save their hard-earned money from being taxed (of course in a Positive manner) and that’s why here I am for explaining various ways through which an assessee can save his/her tax lawfully. Now whenever we talk about tax savings, we […]
