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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...
Article contains An Introduction to Taxation, Salary Income, Perquisites & Allowances, Overview of Income from House Property, Overview of Capital Gains, Deductions under Chapter VIA, Tax Rebate & Relief, Permanent Account Number, Taxability of Retirement Benefits, Pensioners & Senior Citizens, Taxation of Expatriates, Income tax on Fringe Benefits and Some relevant Case laws CHAPTER 1 […]
What are operating system and runtime environment requirement for E-filling of Tax Audit Report? Our system becomes very slow during working on e-utility. What should we do? I am unable to register as CA as there is difference in name/date of birth as per ICAI and PAN data. What to do?
CA Sudir Halakhandi One more controversy is going on with respect to uploading of the financial statements i.e. “Balance sheet and profit and loss account” with Form 3CD/ 3CB and this controversy is related to the physical signatures on the “Financial statements” before uploading the same on the site. 50% of the questions received by […]
Honorable Allahabad High Court approves the special bench judgment in the case of Merilyn Shipping and Transport Ltd. and held that disallowance u/s. 40(a)(ia) applies only to amounts ‘payable’ as of 31st March and not to amounts already ‘paid’ during the year.
During the course of assessment proceedings, Assessing Officer noticed that Assessee has made investment in shares amounting to Rs. 95,45,400/-. Assessing Officer was of the view that the investment would generate exempt income and therefore provisions of section 14A becomes applicable.
Notification No. 67/2013 – Income Tax DATED 2-9-2013 Income-tax (14th Amendment) Rules, 2013 – Furnishing of information by the person responsible for making any payment including any interest or salary or any other sum chargeable to tax, to a non-resident, not being a company, or to a foreign company
In case SREI (supra.) judgment has been rendered by the DELHI HIGH COURT in a Writ Petition against an order of the settlement commission. The issue before the High Court was on S. 50B relating to Slump Sale.
The. Hon’ble Delhi High Court vide its judgement in the case ‘Court On its Own Motion vs. UOI and Ors’ (W.P. (C) 2659/2012 & W.P. (C) 5443/2012 dated 14.03.2013) has issued seven mandamuses for necessary action by Income-tax Department, one of which is regarding the issue of ‘Unmatched Challans’ reflected in Form 26AS where the report by the deductor in the TDS statement are not found available in the OLTAS database resulting in TDS mismatch.
CA Sudhir Halakhandi The xml utility of E-filing of Tax audit report is under process of continuous alterations, amendments, modifications and the last in this series of is introduced on 24th Aug 2013. Our first question is that why so many amendments, modification, alterations are required in this utility. The answer is very simple because […]
Tax Evasion by Foreign Companies Data on dollars transferred abroad by foreign companies in India is not centrally maintained by the government. However, with a view to prevent shifting of profits out of India and consequent erosion of the Indian tax base, selected international transactions undertaken are analysed every year in accordance with the transfer […]
