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Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
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 Court rejected the challenge to the search conducted under Section 132 and upheld the legality of the search proceedings. It, ...
Income Tax : The Tribunal held that the reassessment was invalid because the Income Tax Officer lacked pecuniary jurisdiction where the returne...
Income Tax : The Tribunal held that the assessment was invalid because the Assessing Officer having jurisdiction failed to issue the mandatory ...
Income Tax : The ITAT Kolkata held that the reassessment was invalid because the ACIT lacked pecuniary jurisdiction and completed the assessmen...
Income Tax : The ITAT Kolkata held that the assessments were invalid because the ACIT was not shown to have jurisdiction under CBDT Instruction...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
Government has not proposed any changes in tax slabs for the salaried class this year. So the effective tax rates will be same as last year, as follows;
The Taxes shall arise for Gains Booked on Long Term Capital Assets being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust, made on or after the 1st day of April, 2018
The Budget 2018 has touched upon almost every sector, while not disrupting the overall economic environment. It aims to provide the necessary push in field of infrastructure, farming, rural household provisions, education, and biggest of all, healthcare, for the common man.
This is off course an Election Budget which balances populism and discipline, but salaried class and investors are disappointed. A Union Budget blended with prudent economics and electoral populism, delivered by Finance minister on 1.2.2018, that placed villages at the Centre of a new development framework but maintained reformist intent and fiscal discipline.
This is the first budget after enforcement of GST.Finance Minister Shri Arun Jaitley presented general Budget for 2018. Let us have a simple review on the Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors.
Corporate Tax of 25% extended to companies with turnover up to Rs 250 cr in financial year 2016-17 No Change In Tax Slabs For Individuals. 100% deduction of income for Producer Companies. Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried tax payers
The notification notifying ICDS is contrary to the settled law since its implementation would nullify the judgements of the Supreme Court and the High Courts. This method of overriding the binding decision of Courts by the executive was contrary to law explained in Shri Prithvi Cotton Mills Limited v. Broach Borough Municipality (1969) 2 SCC 283.
Finance Minister Arun Jaitley has done well by announcing measures to help MSMEs and job creation in the last full Budget of the current government
As you may be aware, World Bank’s Global Economic Prospects has estimated that India is likely to regain the position as the fastest growing economy in 2018 with growth expected to accelerate to 7.3 per cent in the year. For 2017
Income-tax Clause 2, read with the First Schedule to the Bill, specifies the rates at which income-tax is to be levied on income chargeable to tax for the assessment year 2018-2019. Further, it lays down the rates at which tax is to be deducted at source during the financial year 2018-2019 from income other than […]
