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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...
The assessee, a joint venture company, was awarded a project work. However the assessee did not execute the contract and the said work was done by one of its constituents namely SMS Infrastructure Limited (‘SIL’).
I am directed to ref to the above and to state that it has come to the notice of Board that In a recent incident, the Hon’ble High Court has passed certain remarks against the Department. It appears that the High Court had sought certain information regarding the case from the Departmental Counsel.
Notification No.1/2015 – Income Tax In exercise of the powers conferred under the Income Tax Act, 1961, the Finance Act, 1992 and the Finance (No. 2) Act, 2014, the Central Government hereby notifies the creation of two additional benches of the Authority for Advance Rulings (Income Tax) including one at National Capital Region (NCR) and one new bench at Mumbai, with effect from the date of publication of this notification in the Gazette of India (Extraordinary).
The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of the Income Tax Act must be distinguished from the exemptions provides in Section 10 of the Act. While the former are to be reduced from the gross total income, the latter do not form part of the income at all.
In its endeavor to improve litigation management related to Direct tax cases in various courts, the Department has taken up a project titled “National Judicial Reference System” (NJRS). The NJRS project is being undertaken by the Directorate General of Income Tax (Legal & Research), Income Tax Department.
With the end of the financial year looming ahead, it is time to assess your tax liability, and consider tax-saving investment options to reduce your tax liability to the maximum extent possible. While tax planning should not be a last-minute exercise, minimizing tax payable on unexpected incomes or profits can be easily done before the […]
A plain reading of Section 10(23C) makes it clear that the legislature has categorised for deduction income of those institutions which ‘exist solely’ for philanthropic purpose with a further stipulation that they would exist ‘not for the purpose of profit’.
The undersigned is directed to state that Department of Administrative Reforms & Public Grievances vide their OM No. 4/2/2013-P&PW(Coord) dated 19.21015, have initiated a process of providing a platform ‘Anubhav’ for the retiring Central Government
The Supreme Court was considering an issue as to whether income derived from a building can be said to be used for charitable purpose by running of a free medical aid to the needy and poor in the context of tax exemption under Municipal laws.
2.. In view of difficulties reported vide above referred letter, in the processing of returns in AST of foreign technicians filed by representative assessees, the CBDT has approved ‘Online TMS(category 2)’ for processing of such returns. Therefore, an online ‘Online TMS(category 2)’ functionality has been provided in ITD-AST application under AST TMS Online TMS – Category 2.
