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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...
Registration of the application under Section 12AA of the Income Tax Act in the case of the assessee shall take effect from 24.08.2003 i.e. post 6 months from the date of application for registration.
it was held that where complete disclosure of income had been made in the return of income and head of the income undergoes a change at the hands of the Assessing Officer would not by itself justify the imposition of penalty under Section 271(1) (c).
Infosys & Wipro are no doubt large and distinct companies where the area of development of subject services is different and as such the profit earned there from cannot be a bench-marked or equated with the assessee.
Apprehensions that the term person in the DTAA does not specifically include partnerships have been brought to the notice of the Central Board of Direct Taxes (the Board), and further clarity has been sought on whether the provisions of the treaty are applicable to a partnership.
On February 17, 2016, the Treasury Department released a revised 2016 U.S. Model Income Tax Convention (the 2016 Model), which is the baseline text the Treasury Department uses when it negotiates tax treaties. The U.S. Model Income Tax Convention was last updated in 2006 (the 2006 Model). This preamble highlights the significant features of the […]
The Agreement provides for relief from double taxation for airline enterprises of India and Maldives by way of exemption of income derived by the enterprise of India from the operation of aircraft in international traffic, from Maldivian tax and vice-versa.
As per current process, PAN holder who wants to update core field and address details of the PAN allotted to him/her can file request for update through service providers (NSDL/UTIITSL). Details received from SPs in this regard in text file format are now uploaded in the system automatically through central schedulers removing manual intervention of the RCC. Request for updation in respect of core field updation and address updation are received in separate files from PAN service providers NSDL and UTIITSL.
One of the biggest tax saving bonanza by the Finance Act-2015 was insertion of sub-section 1B to section 80CCD in the Income Tax Act-1961 whereby an additional deduction of Rs. 50,000/- is offered to the taxpayer for contribution in the National Pension Scheme (NPS).
It is open to a company to buy back its own shares by following the procedure prescribed under section 77A/Section 68 or by following the procedure prescribed under section 391 read with Sections 100 to 104 of the 1956, Act.
ITAT Bangalore held in the case of GXS India Technology Center Pvt. Ltd. vs. ITO that a company which is engaged in development of software products and services cannot be compared to a company which is purely software development services provider.
