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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...
Key features of RPU 4.1 ♣ Lower/ Non-deduction Certificate number issued by Assessing Officer (in deductee details): Length of field “Certificate number issued by the Assessing Officer u/s 197 for non-deduction/lower deduction” under deductee details (i.e. in Annexure 1) has been restricted to 10 digits. Certificate number to be quoted only in case of lower […]
Key feature of FVU version 4.4 ♣ Lower/ Non-deduction Certificate number issued by Assessing Officer (in deductee details): Length of field ‘Certificate number issued by the Assessing Officer u/s 197 for non-deduction/lower deduction’ under deductee details (i.e. in Annexure I) has been restricted to 10 digits. Certificate number to be quoted only in case of […]
F. No. CIT(Judicial)/Empanel. of Counsels/Vol.II //2014-15 Dated : 23.09.2014 Applications in prescribed proforma (A1 & B) are invited from the tax lawyers of substantial standing and repute and with good academic credentials for the empanelment of Senior and Junior Standing Counsels for representing tax matters of the Income Tax Department in the High Court of Delhi and other fora.
Transfer pricing has become the most significant source of litigation in India and is increasingly becoming a regular discussion point in the board room of large Indian and Global Multinational enterprises (“MNEs”). Indian Tribunals have issued around 650 rulings over the past decade on transfer pricing issues, setting precedents for taxpayers on a wide range of issues.
Text of the Intervention Made by the Minister of State of Finance in the G20 Finance Minister’s Meeting on International Tax; Calls for Implementation of the New Global Standards on Automatic Exchange of Information with A Common Timeline and with Coverage of as Many Countries as Possible
CBDT has constituted a Committee to appraise the existing Instruction No 4/2002 dated 07.05.2002 on the above mentioned subject and to suggest suitable modifications to the same.
Finance Minister Arun Jaitley will launch an updated version of the existing website of Income Tax Department today to enable taxpayers to file easily their I-T returns or apply for a PAN card. The updated version of the existing website of the Income Tax department– www.incometaxindia.gov.in– will now be acting as a single window for […]
To, Hon’ble Chief Justice of India Supreme Court of India Subject: Bureaucracy in India – A Real Hurdle for Development of Country Respected Sir, “Minimum government, maximum governance” – is it fact or fantasy? Government has merged key ministries in an apparent attempt to bring in more synergy in governance and make decision making quicker […]
The central Board of Direct taxes has extended the date of obtaining and furnishing the Tax audit report to 30/11/2014 though the Date of filing of Income tax returns is still 30/09/2014 and it is very unfortunate situation troubling the whole trade and Industry which is a very big part of the total tax paying fraternity.
Some time back, often I use to hear about Globalisation during meetings and personal interviews that, how the World is becoming a smaller place, now I believe that it has indeed became so in the current scenario when it is difficult for any professional or a businessman to work only locally without having or soon to have some kind of business or professional international opportunity.
