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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...
In this article I am discussing the Service tax provisions in respect to the Services provided TO the Educational Institutions. An illustrative list of services provided to Educational Institutions – Works Contract Services, Renting Services, Transportation, Security Services, Information Technology Services
For condonation of delay, two questions are required to be seen (i) whether there is sufficient cause and it depends from case to case whether in given circumstances, sufficient cause has been established or not? (ii) Whether the law of limitation has to be enforced or the question of limitation should be taken only as a mere formality.
Income tax Department has released e-Filing Utility for ITR- 2 for Assessment year 2013-14 / Financial Year 2012-13. We have placed link for the same as the bottom of the article. We also discussed Who can use this Return Form?, Who cannot use this Return Form?, Manner of filing this Return Form etc.
Immediate amendment required in Income Tax Rule 31 Rule 31 of Income Tax Rules, 1962 requires that the certificate of tax deducted at source to be furnished to the deductee within fifteen days from the due date for furnishing the statement of tax deducted at source under rule 31A. (i.e. on quarterly basis).
Income Tax Department Sent Letters to Another Batch of 35,000 Non-Filers; Government Once Again Urges all Tax Payers to Disclose Their True Income and Pay Appropriate Taxes As part of its ongoing initiative, the Income Tax Department has sent today i.e. 27th May, 2013 letters to another batch of 35,000 non-filers. These persons were part […]
In the result, we are of the opinion that Section 40(a) (ia) would cover not only to the amounts which are payable as on 31th March of a particular year but also which are payable at any time during the year. Of course, as long as the other requirements of the said provision exist.
The assessee sold the property at a sum of Rs.2,51,50,000/- For the purpose of stamp duty, however, the value was estimated at a sum of Rs.5, 19,77,000/- and on that basis the stamp duty was realized. During the assessment, it was found that the assessee had disclosed the sale price
Union Finance Minister to Inaugurate Today 29th Annual Conference of Chief Commissioners of Income Tax and Directors General of Income Tax 2013 The Union Finance Minister Shri P. Chidambaram will inaugurate the 29th Annual Conference of Chief Commissioners & Directors General of Income Tax here tomorrow. Two day Conference is being organised by the Central […]
The assessee before execution of the sale deed purchased the properties vide document No. 8547/2008 on 18.09.2008 for Rs. 47,53,223/-, document No. 8743/2008 on 04.10.2008 for Rs. 51,47,014/- and document No. 8295/2008 on 24.09.2008 for Rs. 28,68,302/-
The Central Board of Direct Taxes (CBDT) is Spreading e-tax net through Notification dated 34/2013 dated 01.05.2013. E-filing of I-T returns is now mandatory for individuals, including salaried taxpayers, earning more than Rs 5 lakh taxable income during the financial year ended March 31, 2013. Earlier the same was mandatory for the Individuals having salaried […]
