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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 ITAT Hyderabad held that payments made for Google AdWords constitute advertising contracts under Section 194C and not fees for...
Income Tax : The ITAT Mumbai held that penalty under Section 270A cannot be sustained where the show cause notice and assessment order fail to ...
Income Tax : The ITAT Lucknow upheld deletion of the addition after finding that the cash deposits represented business receipts arising from d...
Income Tax : The ITAT Delhi deleted the addition under section 69A after finding that the assessee had substantiated the source of the jeweller...
Income Tax : The ITAT Raipur upheld the disallowance of 12.5% of disputed purchases after finding that the assessee failed to establish the act...
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 Income-tax Department is committed to promote voluntary compliance with the direct tax laws through quality tax payer service. The Department is consistently striving for providing efficient services and assisting the tax payers to discharge their tax obligations. It aspires for continual improvement in its service delivery mechanism
In the interest of investors it has been decided that the above mentioned documents shall be provided to clients in vernacular languages. In this regard, SEBI has advised stock exchanges having nationwide terminals to provide the above said documents in 15 vernacular languages viz. Assamese, Bengali, Gujarati, Hindi, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Oriya, Punjabi, Sindhi, Tamil, Telugu and Urdu
The functionality for selection of cases and for generation of notice u/s 143(2)/148 will be made available w.e.f. 01/08/2016 in Income Tax Business Application (ITBA) as per the following details:
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE ****** New Delhi, dated 1st August, 2016 NOTIFICATION No. 61 :(F.No.A.19011/15/2014-Ad.I): The President of India is pleased to appoint Ms. Rani Singh Nair, IRS(IT:1979), as Chairperson, Central Board of Direct Taxes (CBDT) in the Department of Revenue, Ministry of Finance in the pay scale of Rs. […]
Krishna, nowadays two topics are capturing the attention of everyone in India. One is the mobile game ‘Pokémon Go’ and the other is the ‘Income Declaration Scheme 2016’ we may call it Taxman Go. One is for Finding Pokeman and other is for undisclosed income. Let’s enjoy it and learn joyful tax related matters. No one should take it otherwise.
i. The Advocacy Division of the Commission will continuously scan and identify the upcoming / existing economic legislations and policies which may potentially have adverse effect on competition, for assessment; ii. Any Government Agency, including statutory authority, may refer any upcoming / existing economic legislation or policy to the Commission for competition assessment
Newspapers, periodicals, TV channels are full of advertisements of Income Declaration Scheme 2016. Hoardings, banners, posters and handbills highlight the details of the Scheme. PM, FM and top brass of the Income Tax Department are beckoning people to declare their undisclosed incomes and contribute to the nation’s mite.
CBDT, in exercise of powers conferred U/s. 119 of the Income-tax Act, 1961, hereby extends the ‘due-date’ for filing such returns of Income from 31st July, 2016 to 5th August, 2016, in case of taxpayers throughout India who are liable to file their Income-tax return by the said`due-date’
CBDT extends the ‘due-date’ for filing Returns of Income from 31st July, 2016 to 31st August, 2016, in case of Income-tax assessees in the State of Jammu & Kashmir who are required to file their return under section 139(1) of the Act by the said ‘due date’
Electronic Verification Code (EVC) can be generated through State Bank of India, AXIS bank and Canara bank ATMs. This will facilitate these bank’s customers, who may not have a Net-Banking account, to e-verify their return. Other banks are expected to launch this facility.
