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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...
Income Tax department has amended Rule 12 of Income Tax Rules vide Notification No. 28/2014, Dated- 30th day of May, 2014. Vide this amendment it is provided that An assessee required to furnish a report of audit specified under section 10AA , section 44DA, section 50B or section 115VW of the Act, shall furnish the said report of audit and the return of Income electronically for AY 2014-15 and onwards.
CA Sandeep Kanoi CBDT has amended Rule 12 of Income Tax Rules 1962 vide its Notification No. 24/2014, Dated: April 1, 2014 and made amendments in respect of filing of ITR by Trusts, Partnership firms and furnishing of Audit Report under section 11(2)(a) by trusts for accumulation of Income. The Notification has also Notified SAHAJ […]
The Government could ideally declare as policy that retrospective action shall not be resorted to, save in rarest of cases, but never for creating a fresh onus or liability for a previous period. In fairness, retrospective change if needed must invariably favour the taxpayer.
Income Tax Department has released FORM ITR-3, ITR-4, ITR-5, ITR-6, ITR-7 for A.Y. 2014-15 vide its Income-tax Notification No. 28/2014, Dated- 30th day of May, 2014 and SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) , ITR-V FOR A.Y. 2014-15 vide its Income-tax Notification No. 24/2014, Dated: April 1, 2014.
Respondents have denied refunding the TDS on the ground that the refund would only be granted when the TDS matches with the details mentioned in Form 26AS. Since the mismatching is not attributable to the assessee and the fault solely lay with the deductor, we find that a case has been made out for grant of a mandamus for refund of the TDS amount.
Notification No. 29/2014-Income Tax In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Sivasuriyaperuman Temple, Suriyanarkoil, Thiruvaidaimarudur Taluk, Thanjavur District, Tamil Nadu”, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.
CPC(TDS) apprises you that the current period marks the busiest weeks of downloading and distributing TDS Certificates for Q4, FY 2013-14. This also marks a peak time in the number of calls and queries to CPC(TDS). We encourage deductors to visit TRACES as the best place to get quick help to find answers to frequently […]
Reliance in this regard can be placed on the decision of Hon’ble Delhi High Court in case of CIT v Kultar Exports [TS-315-HC-2014(DEL)] pronounced on 23-05-2014 wherein the assessee has claimed deduction for the AY 2001-04 under Section 80HHC which provides deduction to the exporters.
CIT (Appeals) has inferred of the hotel/s, where the assessee’s employees stayed, as also serving as their work place. The communications between them and the head office, which is again a part of their work, has again admittedly been carried out in India and, as stated
The assesse would be entitled to the approval under section 10(23C)(vi) of the Act, however if it was found that the funds of the assesse had not been utilized for its objects during the relevant year or had otherwise not complied with the provisos to the Section 10(23C) of the Act
