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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 High Court held that failure to pass the order giving effect within the time prescribed under Section 153 resulted in abatemen...
Income Tax : The Madras High Court held that unexplained trade credits falling under Section 68 cannot qualify for deduction under Section 80-I...
Income Tax : The Tribunal restricted the Section 14A disallowance to exempt income and deleted additions relating to bad debts, tea and coffee ...
Income Tax : The ITAT held that the CPC could not make adjustments under Section 143(1) without first issuing the mandatory intimation to the a...
Income Tax : The ITAT Mumbai held that Fees for Technical Services were taxable at 10% under section 115A(1)(b) since the RBI's automatic appro...
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...
While discussing the Revisional powers of CIT(A) u/s 263 it was held that the Commissioner has to be satisfied of twin conditions, namely, i) the order is erroneous; and ii) it is prejudicial to the interests of the revenue.
n was judicially held in the case of Bharat Earth Movers Vs. CIT (2000) 6 SCC 645 that if a business liability has arisen in the accounting year, the deduction should be allowed even if such a liability may have to be quantified and discharged at a future date.
The rules relating to Roll Back of an Advance Pricing Agreement (APA) have been notified through notification no. S.O. 758 (E) dated 14th March, 2015. As per sub-rule (5) of the newly prescribed rule 10MA, where an application for entering into an advance pricing agreement has been filed prior to 1.01.2015
The locations for setting up all the ASKs in the last year were identified and recommended by the concerned CCIT (CCA) / CCIT, as a result of which the process of setting up of the ASKs could be carried out smoothly. On the same lines as last year, you are requested to kindly use your good offices to participate in the exercise to identify locations for setting up Aayakar Sewa Kendra in this year also.
Office Memorandum (OM) No.6/01/2011-NS.II dated March 31, 2015 Government Announces Interest Rates for Various Small Savings Schemes; Rates to Come Into Force with Effect from Tomorrow It was decided by the Government of India that interest rates on Small savings Schemes will be linked to yields on government securities of comparable maturity. In pursuance of […]
Notification No. 32/2015 – Income Tax Central Government hereby notifies the income computation and disclosure standards as specified in the Annexure to be followed by all assessees, following the mercantile system of accounting, for the purposes of computation of income chargeable to income-tax under the head Profit and gains of business or profession or Income from other sources.
Income Tax Dept. issues list of 18 tax defaulters 1. BLUE INFORMATION TECHNOLOGY LTD. 2. LAXMINARAYAN T. THAKKAR (HUF) 3. JUPITOR BUSINESS LIMITED 4. HIRAK BIOTECH LTD. 5. ICON BIO PHARMA & HEALTH CARE LIMITED [Formerly known as moon drugs limited] 6. APPLITECH SOLUTIONS LIMITED 7. BANYAN & BERRY ALLOYS LTD. 8. SOMANI CEMENT CO. […]
CIT Vs. Shri Varanasi Khanta Rao (Andhra Pradesh High Court) When once the Commissioner has got power to point out the errors which had the effect on the revenue, the Tribunal cannot sit as an appellate authority on the order of the Commissioner passed under Section 263 of the Act.
Please find attached the Excel file containing Income Tax calculator as modified by Finance Bill 2015 presented on 28th February 2015. The above Income Tax calculator contains the rate of tax for last 19 financial year (i.e Financial year 1997-98 to 2015-16) and income tax calculator for last 9 years (i.e Financial year 2006-07 to 2015-16).
CBI ARRESTS AN INCOME TAX OFFICER FOR ACCEPTING BRIBE OF RS. 75,000/- The Central Bureau of Investigation has arrested an Income Tax Officer Preeta Babukuttan posted at Range 31(1)(2), Mumbai for demanding & accepting a bribe of Rs. 75,000/- from the Complainant.
