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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 held that the CIT(A) has no power to dismiss an appeal merely for non-prosecution. The appellate authority must adjudicat...
Income Tax : The Delhi High Court held that a reassessment notice issued beyond the prescribed limitation period was without jurisdiction. It q...
Income Tax : The ITAT Hyderabad held that certified segmental financial information could not be rejected mechanically without identifying defe...
Income Tax : The Patna High Court declined to interfere with the cancellation of GST registration after noting that the first appeal was filed ...
Income Tax : The ITAT Hyderabad held that payments made for Google AdWords constitute advertising contracts under Section 194C and not fees for...
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...
As per CBDT Circular No.1/ 2016 dated 15.2.2016, it is clear that the assessee has option to claim deduction in subsequent years i.e. he can choose initial assessment year for claiming deduction even post commencement of business.
Reason for reopening of the assessment was a mistaken factual premise that the Assessee had changed the system of accounting from the mercantile to the cash system. It was more than adequately explained by the Assessee that this was an inadvertent error.
Furnishing of Information in Respect of Payments made to the Non-Resident Section 195 of the Income-tax Act empowers the Central Board of Direct Taxes to capture information in respect of payments made to non-residents, whether chargeable to tax or not. Rule 37 BB of the Income-tax Rules has been amended vide Notification No. G.S.R. 978(E) […]
SEVEN YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.1.5 LAKH TO THEN INCOME TAX OFFICER IN A BRIBERY CASE The Special Judge, CBI Cases, Dehradun has today convicted Shri Dinesh Kumar, then Income Tax Officer, Pithoragarh (Uttarakhand) in a bribery case and sentenced him to undergo seven years Rigorous Imprisonment with fine of Rs.1.5 lakh. CBI […]
The manner of furnishing the new Form No. 35 has been prescribed by sub-rule (2) of rule 45. Sub-rule (5) of rule 45 empowers the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) to (i) specify the procedure for electronic filing of Form No. 35 and documents;
The Panama Papers are a leaked set of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies listed by the Panamanian corporate service provider Mossack Fonseca, including the identities of shareholders and directors of the companies. The documents show how wealthy public officials hide their money and identify current government leaders […]
In response to information received in 2011 from Government of France, relating to the bank accounts of 628 Indian persons in HSBC, Switzerland, a lot of progress has been made in the investigation by the Department. Out of the list, 569 persons have been traced. However, in the information received, details of HSBC amount were shown against 339 persons only. Out of 628, 214 were found not actionable on account of no balance or being non-residents or being non-traceable. O
In order to ensure that taxpayers are able to secure their E-filing account against any fraudulent attempts, the Income Tax Department has introduced a new facility called the E-filing Vault. In order to use this facility, taxpayers can log in to their E-filing Account and under their profile page select E-filing Vault – higher security.
The Central Board Direct Taxes achieved significant success in delivery of taxpayer services in Financial Year 2015-16, a record setting year in delivery of taxpayer services. The Centralized Processing Centre (CPC) at Bengaluru processed more than 4.14 Crore Income Tax returns, an increase of over 35% over the previous year. The CPC also issued over 1.61 Cr refunds above Rs 100 to taxpayers, an increase of more than 47% over the previous year.
CBDT has made following announcement on its e-filing Portal today one after another and made the New Forms 15CA,15 CB, 15CC and newly Notified Form 35 [FOR appeal with CIT(A)] available for e-filing.
