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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...
Direct Taxes Committee of ICAI is compiling the difficulties faced by the assessees in claiming credit of Tax deducted at source. I request you to kindly send the issues, if any, being faced by your goodself or by members or by any assessees of your region/branch in claiming TDS credit. The issues so received will be compiled and considered by the Committee for making appropriate representation to the Central Board of Direct Taxes.
Ramesh Babu Rao vs. ACIT (ITAT Mumbai) – Considering the fact that assessee is not a broker or sub-broker and also not having any office establishment and also on the fact that all the shares as available on 0 1.04.2005 were sold mostly by the end of May and few shares at the end of September, assessee has intended to be an investor subsequent to the change in the scheme of tax by the Finance Act 2005. On these facts, we see no reason to interfere with the findings of the CIT(A) in holding that the assessee’s transactions are to be treated as capital gains, short term or long term depending on the period of holding.
We have uploaded below ITR 1- Sahaj, ITR 2, ITR 3, ITR-4, SUGAM (ITR-4S), ITR 5, ITR-6 and ITR-7 in Pdf Format applicable for Assessment year 2011-12 and Financial Year 2010-11. In addition to these we have also uploaded ITR 2, ITR 3, ITR-4 and ITR 5, ITR 6 and ITR 7 in Word Format. We will soon upload all the ITR and acknowledgement in Excel Format also.
Transfers of Income Tax Appellate Tribunal (ITAT) Members (April 2011) – In pursuance of the consultations of the collegium of the Income Tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, the following Members of the Tribunal are hereby transferred in public interest, in the same capacity, to the Bench/es of the Income Tax Appellate Tribunal as shown against their names.
The Supreme Court today directed Mahindra Satyam to make its presentation before the Central Board of Direct Taxes (CBDT) relating to its tax dispute within two weeks, and also asked it to furnish a bank guarantee of Rs 617 crore by April 25. “Within two weeks the petitioner company (Mahindra Satyam) would file a comprehensive petition making its representation before CBDT giving all requisite information for re-assessment of income for year 2003-2004 to 2008-09,”, the bench said.
The Telecom Regulatory Authority of India (Trai) has recommended that telecom infrastructure be considered as general infrastructure and make tax benefits available to the sector. “In view of the growing importance of the telecom infrastructure in the development of the country, the need for creating a conducive environment for the development of the infrastructure in the country cannot be overemphasised,” Trai said in its Telecommunications Infrastructure Policy recommendations.
The Supreme Court today directed UK-based telecom major Vodafone to appear before the Income Tax Department which had instructed the company to pay penalty in the USD 2 billion tax case relating to the telecom major’s stake purchase in Hutchison-Essar. A three-judge bench headed by Chief Justice S H Kapadia asked the company to file its representation before the IT department.
The Centre on Friday declined before the Supreme Court to make public names of the people who have stashed black money in foreign banks. It informed that it is not possible to disclose information received from foreign governments under the Double Taxation Avoidance Agreement (DTAT). The Centre, however, agreed to reveal the names of six persons who had deposited money with the Liechtenstein Bank in Germany and who are being prosecuted by the government authorities.
The Supreme Court would hear tomorrow a plea by Vodafone challenging the I-T Department initiating penalty proceedings in the $ 2 billion tax case relating to the company’s stake purchase in Hutchison-Essar. Voadfone’s application would be mentioned before a three judge bench headed by the Chief Justice S H Kapadia. Earlier, the I-T department had issued notice to Vodafone in March saying penal action would be initiated against the British telecom major in the tax case.
With an eye on the 2012 presidential elections, the US President Barack Obama has proposed significant reduction in budgetary deficits through a series of proposals including taxing the wealthy and seeking spending cuts. “In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans.
