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Income Tax : Rule 46(8) mandates daily backups of electronic books on servers located in India, strengthening digital tax compliance and data i...
Income Tax : CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing f...
Income Tax : Explore income-tax rates applicable over the last ten assessment years for individuals, companies, firms, LLPs, HUFs, and co-opera...
Income Tax : Learn how business and professional income is computed under the Income-tax Act after the Finance Act, 2026. This guide explains t...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
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 : ITAT Jaipur held that exemption under Section 11 cannot be denied merely because Form 10B was filed late when it was already avail...
Income Tax : Bombay HC admitted the Revenue's appeal on AMP expenditure and payments to doctors, holding both require judicial examination. It ...
Income Tax : ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition ...
Income Tax : NCLAT held that a single application covering multiple years and company officers is maintainable in the absence of any statutory ...
Income Tax : ITAT held that Section 87A rebate cannot be denied on tax payable under Section 111A where the assessee qualifies under the prescr...
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...
The Income Tax Department has saved a potential interest outgo of up to Rs 4,000 crore by an early payout of refunds to taxpayers in April, a top official of the Department said today. In the month of April, we have issued more than 20 lakh refunds all over the country which is a record number of refunds issued in April, Central Board of Direct Taxes Chairman Sudhir Chandra told reporters here.
The Supreme Court today expressed displeasure over the tardy pace of probe by the Income Tax department into the tax evasion cases linked to 2G spectrum case, saying it wanted results. A bench of justices G S Singhvi and A K Ganguly directed the department to file a detailed report on action taken by it during the last three years when it got a complaint in this regard and began tapping corporate lobbyist Niira Radia’s telephone.
AAR in the case Goodyear Tire and Rubber Company held that capital gains provisions are not attracted in case of transfer of shares without consideration. Further, the AAR held that the transfer pricing provisions in an international transaction can be applied only when income is chargeable to tax in India and since in the present case no income was chargeable to tax in India the question of applicability of Transfer Pricing provisions and withholding tax under Section 195 of the Income-tax Act, 1961 (the Act) does not arise.
DCIT v. AIG Home Finance India Ltd. The taxpayer was a housing finance company. The taxpayer had claimed deduction under section 36(1)(viii) of the Income-tax Act (ITA) in respect of securitization income earned from the business of long term housing finance. The Assessing Officer (AO) denied the deduction to the taxpayer on the basis that the taxpayer had received the proceeds on loan securitization and not the interest income. The Commissioner of Income-tax (Appeals) allowed the claim of the taxpayer. Aggrieved by the decision of the Commissioner of Income-tax (Appeals), the AO preferred an appeal before the Tribunal.
ORDER NO. 78 OF 2011 -The following officer who have come back from deputation and awaiting posting are hereby posted as OSD in the CCIT(CCA) Region as against their names with effect from the date of their reporting back to the Board and until further orders
The Income Tax department has found instances of alleged tax evasion and multiple routing of undeclared wealth in the 2G spectrum allocation scam and will file its first status report on the probe in the case in the Supreme Court tomorrow. The department, according to officials, has reportedly traced instances of tax evasion by various Telecom firms that have been named by the CBI and the ED in their charge sheets.
A Delhi court today remanded sacked CWG Organising Committee Chairman Suresh Kalmadi and two others, arrested on charges of cheating, conspiracy and corruption in the award of Games related contracts, in 14 days judicial custody. Special Judge Dharmesh Sharma sent Kalmadi, OC Joint Director General (Sport) A S V Prasad and OC Deputy Director General (Procurement) Surjit Lal to judicial custody till May 18 after the CBI said that some important witnesses are yet to be examined.
The taxpayer was engaged in share trading. During the assessment year 2004-05, the taxpayer had set off the indexed long term capital loss against non-indexed long term capital gains. The Assessing Officer did not allow the set off of indexed long term capital loss against non-indexed long term capital gains. Vipul A. Shah v. ACIT (ITA No 3190/Mum/2010) Mumbai ITAT dated 8 April 2011
The Central Board of Direct Taxes has issued circular prescribing the procedure regulating refund of amount paid in excess of tax deducted and/or deductible in respect of payments to residents as covered under sections 192 to 194LA of the Income-tax Act. The Circular will be applicable for claim of refunds for the period upto 31 March 2010.
IDFC today said it has learnt right lessons on issuing retail tax-saving infra bonds and will be hitting the market in second quarter of FY 12 with a fresh issue, hoping to improve on the Rs 1,400-crore it had mopped up last year. We have learnt the lessons as to how to place these things (the bond issue) on the market…last year we did Rs 1,400-crore in three tranches and this year we expect to do better than that, the company’s Managing Director and Chief Executive, Rajiv Lall, told reporters here.
