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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...
Bimanagar Co. Op. Housing Society Ltd. Vs ITO (ITAT Ahmedabad)- ITAT held that income earned by the assessee, in consideration of having given rights to have play hoardings etc. are taxable as income from house property. Accordingly, deduction under section 24(a) was indeed admissible in the present case. Full Text of the ITAT Order is […]
The legal principle is that the person who hears must decide. Therefore, by applying the said principle to the case on hand, the only conclusion that can be arrived at is to send back the matter for fresh consideration before the first respondent, on the plea for waiver of interest under section 220(2) and rule 5 of the Second Schedule to the Income Tax Act, 1961
Late Smt. Abida Mohammed Rakhangi Vs ITO (ITAT Mumbai)- ITAT held that we cannot also shut our eyes to reality of Indian lives wherein there is a love, pride and preference of Indian households to invest and hold gold ornaments etc for their usage as well for rainy days wherein gold can be sold to […]
Law explained on whether an assessee who defaults on paying self assessment tax u/s 140A while filing the return of income is liable for penalty u/s 221(1) if he files a revised return of income and pays the tax thereon at the time of filing the revised return of income
Today some changes are there on user Log-In at Income tax Website.
The President is pleased to promote the following officers of Indian Revenue Service on regular basis in the grade of Joint Commissioner of Income Tax in Level – 12 in the pay matrix Rs. 78800-209200) with immediate effect and until further orders
As per the Central Action Plan issued for the F.Y. 2017-18, all pending appeals having tax effect of Rs. 50 crore or more are to be dispose of up to 31st December, 2017 as mentioned at Para (i) of Action Plan of chapter-III of the Central Action Plan which is reproduced as under: –
The provisional figures of Direct Tax collections up to September, 2017 show that net collections are at Rs. 3.86 lakh crore which is 15.8% higher than the net collections for the corresponding period of last year. Net Direct Tax collections represent 39.4% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore).
While processing income-tax returns filed in Form ITR-1, doubts have arisen regarding the nature, extent and scope of comparison of information as contained in the return of income with the three Forms which might lead to issuance of intimation proposing adjustments to the returned income.
Where original assessment order was subjected to revision under section 263, interest under section 234B would be charged till completion of assessment under section 143(3) read with section 263.
