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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...
This Court finds that no interest is leviable on the respondent assessees under Section 234B, even though they filed returns declaring NIL income at the stage of reassessment. The payers were obliged to determine whether the assessees were liable to tax under Section 195(1), and to what extent, by taking recourse to the mechanism provided in Section 195(2) of the Act.
Notification No. 11/2015 – Income Tax 10THA. Eligible assessee.—The ‘eligible assessee’ means a person who has exercised a valid option for application of safe harbour rules in accordance with the provisions of rule 10THC, and is a Government company engaged in the business of generation, transmission or distribution of electricity.
Fr. Sabu P.Thomas Vs Union of India (Kerala High Court) The receipts in question, in the instant cases, are amounts by way of salary and pension. These payments accrue to the individuals concerned, who have rendered service in their individual capacity and based on the educational qualifications and skills possessed by them as individuals. The […]
The Principal Chief Commissioner’s of Income Tax Patna, Bhopal, Guwahati, Lucknow, Bhubaneswar, Nagpur, Bangalore, Kolkata, Jaipur, Mumbai, Hyderabad, Delhi, Chennai, Pune, Cochin, Kanpur, Ahmedabad, Chandigarh
The concept of Bait Money! Bait Money is a security feature used by various Banks/Bank branches. As its name suggests, this money kept with the Banks/Bank branches helps in tracking the culprits in case of any theft provided it has been taken by the thieves. Bait Money is basically a small pile of currency notes, […]
Notification No. 10/2015 – Income Tax Whereas the annexed Protocol amending the Agreement between the Government of the Republic of India and the Government of the Republic of South Africa for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed in Pretoria on the 26th day of July, 2013
INCOME TAX SLAB RATES FOR MALE ASSESSEE FROM ASSESSMENT YEAR 1992-1993 TO ASSESSMENT YEAR 2015-2016. Hello readers, I found many persons searching sites here and there for slab rates of some previous years , purchasing books for the purpose of making assessments or filing return of Income of their clients or Claiming relief under section 89 but cant find true picture so I decided to compile it for you.
Krishna, what are the Provisions in Income Tax Act, when a Taxpayer already owns a house and again Purchases another house i.e., ‘Second House’? Arjuna, listen carefully; otherwise having a second house may become a hardship. E.g. If the Taxpayer is having a House at Aurangabad and he purchases another Flat at Mumbai, then he has to show any one property as Self Occupied Property and has to pay taxes on second House.
CA Ram Bajaj Introduction 1. Section 14A was first inserted by the Finance Act, 2001. However, same was inserted with retrospective effect from 1-4-1962. The inserted section reads as under:— ’14A. Expenditure incurred in relation to income not includible in total income.—For the purposes of computing the total income under this Chapter, no deduction shall […]
Audit of accounts of certain persons carrying on business or profession The purpose of Tax Audit is to ensure that books of Accounts have been maintained in accordance with the provisions of the Income Tax Act. Tax Audit also ensures that the Accounts are properly being presented to the Assessing Officers when called for. However […]
