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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...
The following officers in the grade of CCIT are, hereby, ordered to hold the charge (s) indicated against their names in addition to the substantive charge/ additional charge(s) being held by them, with immediate effect and until further orders
As a CPA, I am often requested by my clients whether they can gift anything to their dear ones. The laws governing gift in India and USA differ basically.
IDS 2016 deceleration will not be invalid in cases where payment has been made through cheque, RTGS, electronic transfer etc. on or before date of 30th November, 2016, but the same has been credited by banks after due date of 30th November, 2016, but on or before the 05th December, 2016.
Against Bombay High Court order in case of Rashmikant Kundalia and another Vs UOI in Section 234E matter Supreme Court admits the SLP filed with it.
It was observed that the prescribed number of Inspections are not being carried out by the field authorities. This is borne out by the fact that as against 2349 Reports of the Inspections to be carried out during 2015-16 for the work done in 2014-15 that were due to be sent to the Directorate of IT by 15.04.2016, only 599 reports were received till 10.01.2017.
The date of submission of life certificate by pensioners under Employees’ Pension Scheme 1995 was extended upto 15.01.2017 vide Head Office letter no.Pension- 1/17( 1)2016/jeevan Praman / 22 750 dated 28.11.2016.
This article deal with the issue of Long Term Capital Gain on Sale of Small Company Shares or on Penny Stocks. Article is based on ITAT Kolkata order in the case of Surya Prakash Toshniwal VS. ITO in which it held that Long-term capital gains claimed exempt u/s 10(38) cannot be treated as bogus unexplained […]
Bombay High court in a notice informed that No adjournments will be granted on the ground that papers or counsel duly instructed are not available.
CBDT entered into a Bilateral Advance Pricing Agreement (BAPA) on the 13th of January, 2017 with Indian subsidiary of a Japanese trading company. Recently, the CBDT has also modified an existing Bilateral APA with another Indian subsidiary of a Japanese company to include rollback provisions.
Article is case study on constitutional validity of Section 234E of the Income Tax Act 1961 inserted by Finance Act, 2012 and covers all earlier judgments on the subject and is based on the Kerala High Court judgment in the case of Sree Narayana Guru Smaraka Sangam Upper Primary School Vs. Union Of India.
