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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...
CBDT notifies U/s. Section 10(46) ‘National Biodiversity Authority’, Chennai, an authority established under the Biological Diversity Act, 2002 (18 of 2003), in respect of the following specified income arising to that Authority, namely:
CBDT notifies U/s. Section 10(46) ‘National Council of Science Museums’, Kolkata, an autonomous body established under the Ministry of Culture, Government of India, in respect of the following specified income arising to the Council, namely:—
Central Government hereby notifies for the purposes section 10(46), ‘Haryana Electricity Regulatory Commission’, a commission constituted under the Haryana Electricity Reform Act, 1997 (Haryana Act No. 10 of 1998), in respect of the following specified income arising to that body, namely:‑
CBDT notifies U/s. Section 10(46), the State Pollution Control Board, Odisha, a board established by the Government of Odisha, in respect of the following specified income arising to that board, namely:-
The CBDT vide Circular No. 21 of 2015 dated 10.12.2015 defines ‘Tax Effect’ for the purpose of filing departmental appeals ( Income tax Matters) before Appellate Tribunal (ITAT), High Courts & Special Leave Petition before the Supreme Court. Further, Appeals / Special Leave Petitions shall not be filed in cases where the tax effect does […]
Section 92CB of the Income Tax Act 1961 provides that the determination of arm’s length price under Section 92C OR 92CA. However, same shall be subject to Safe Harbour Rules. Sections 10 TA to 10 TG deals with the Safe Harbour Rules, which pertain to International Transactions. Rule 10TE provides a detailed procedure for exercise […]
Even under the new GST regime, the rationale of excluding the tax component from the purview of TDS remains valid, the Board hereby clarifies that wherever in terms of the agreement or contract between the payer and the payee, the component of ‘GST on services’ comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XVII-B of the Act on the amount paid or payable without including such ‘GST on services’ component.
Cabinet approves MOC in respect of tax matters between India and BRICS countries – Brazil, Russia, China and South Africa The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given the approval for the signing of Memorandum of Cooperation (MOC) in respect of tax matters between India and the Revenue administrations of […]
CBDT hereby makes the following amendments in the Notification of the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, vide number S.O. 2753(E), dated the 22nd October, 2014, published in the Gazette of India Extraordinary, Part II, Section 3, Sub-section (ii), dated the 22nd October, 2014 namely :-
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 63/2017 New Delhi, the 19th July, 2017 (INCOME TAX) S.O. 2259(E).—In exercise of the powers conferred under section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes being satisfied that it is necessary in the Public […]
