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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...
F.No. P-328/T&P/DC-ACsIT/2016-17/1818 OFFICE OF THE PRINCIPAL CHIEF COMMISSIONER OF INCOME TAX NEW DELHI Dated : 11th May, 2016 ORDER NO. 38/G.O. 2016-17 Sub:-Estt. Group ‘A’ – Transfers and Postings of Deputy/Assistant Commissioners of Income-tax – Reg. – The transfers and postings of the following Deputy/Assistant Commissioners of Income-tax are hereby ordered with immediate effect and […]
ITR forms for A.Y. 2016-17 have been rationalised by making the Schedule AL applicable to individuals and Hindu undivided family (HUFs) whose total income for the previous year 2015-16 exceeds Rs.50 lakh. The objective of AL schedule is to capture details of assets and liabilities and not the net worth.
When it comes to buying health insurance, we Indian find another easy to save on taxes. Although investing in health insurance plans is one of the easiest ways to get a rebate on income tax under section 80D, it is not always recommended to invest in insurance plans to saves thousands on taxes.Needless to say, […]
Revised Protocol will tackle the long pending issues of treaty abuse and round tripping of funds attributed to the India-Mauritius treaty, curb revenue loss, prevent double non-taxation, streamline the flow of investment and stimulate the flow of exchange of information between India and Mauritius.
The alarming rate of ever increasing pollution is a matter of concern for each of us especially those living in the territory of Delhi NCR. Recently, the Hon’ble Supreme Court termed that living in Delhi is like living in a gas chamber. In past, several measures have been taken to curb the pollution and make life of dilliwallahs comfortable.
Non consideration of proposition laid down by Hon’ble jurisdictional High Court Delhi in the case of CIT vs. Holcim India (P) Ltd., reported as (2014) 90 CCH 0081 (Delhi H.C.) is an apparent mistake in the order of the Tribunal.
The Tax Administration Reforms Commission (TARC) headed by Dr. Parthasarathi Shome submitted its report in four volumes containing a total of 385 recommendations that pertain to Central Board of Direct Taxes (CBDT) and 201 recommendations that pertain to Central Board of Excise and Customs (CBEC).
The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country in last two years. Some of the major decisions and actions taken in this regard are given below:
The Government has not issued any guidelines regarding minimising daily financial transactions in cash to curb money laundering, black money and so on. However, the plans of Government to render black money and fake notes circulating in the market ineffective are as under: –
As per section 140 of Income Tax Act 1961, where the individual (assessee) is mentally incapacitated from attending to his affairs, his guardian or any other person competent to act on his behalf can verify the return of income. An Individual must register on behalf of a mentally incapacitated individual in e-Filing application in order to avail the services like filing of returns and other functionalities.
