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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...
In the city of Mumbai “Financial Services Providing Establishments” as codified by WTO/ DIPP be included as one of the eligible activities in the Government of India’s Industrial Park Scheme 2008. The developers of such Industrial parks in Mumbai as also the Financial Services Providing Establishments operating therein should be extended the fiscal benefits available under the ‘Industrial Park Scheme 2008’.
Upon entry into force, the Amending Protocol between India and Switzerland will amend, inter-alia, the article concerning Exchange of Information in the existing Double Taxation Avoidance Agreement (DTAA) between the two countries to specifically provide for exchange of banking information as well as information without domestic interest.
Amidst hue and cry by developers over the Budget proposal to impose MAT on SEZs, Central Board of Direct Taxes today said it has detected revenue diversion from domestic operations to the tax free enclaves.
Now you can check online the status of Form 24G filed by Pay and Accounts Office (PAO)/ District Treasury Office (DTO). To view the status we have to follow the following Procedure :-1. Visit the following link :- * Accounts Office Identification Number (AIN) * Provisional Receipt No.(PRN)
Stud farm owner Hasan Ali Khan, accused of massive money laundering and tax evasion, was detained by the ED which carried out multi-city searches at his Pune home and his associates’ premises cracking the whip to meet tomorrow’s Supreme Court deadline. Hot in pursuit of black money trail after the apex court rap on the government, about a dozen Enforcement Directorate (ED) officials from Mumbai came down to Pune to search the premises of Khan in posh Koregaon Park area this morning and he was taken away for interrogation after searches lasting several hours.
You kind attention is invited to the amendment made vide Notification No. 41/2010 dated 31 May 2010 and the notable features of the amended TDS Rules which are applicable to the month of March and to the Quartered ended 31st March 2011 are as under: (a) Time limit for deposit of TDS for the entire month of March will be 30th April instead of two separate time limits viz. 7th April for TDS up to 30th March and 31st May for TDS as of 31st March.
Under the existing provisions of the IT Act, dividend received from foreign subsidiary companies is taxable in the hands of the Indian parent company @ 30% (plus applicable surcharge and cess). This acts as a major disincentive for the Indian parent companies having subsidiaries outside India, as the profits of foreign subsidiaries are already taxed outside India and the dividends distributed are out of such after-tax profits.
Under the existing provisions of section 10AA of the IT Act, a deduction of 100% is allowed in respect of profits and gains derived by a unit located in a SEZ from the export of articles or things or services for the first 5 consecutive AYs; of 50% for further 5 AYs and thereafter, of 50% of the ploughed back export profit for the next 5 AYs. The profits of such units are excluded for the purpose of levy of MAT based on book profits. It is proposed to bring profits of such units within the purview of MAT based on book profits @ 18.50% (plus applicable surcharge and cess).
It logically follows that Parliament is not empowered to legislate with respect to extra-territorial aspects or causes that have no nexus whatsoever with India,” a five-judge Constitution bench headed by Chief Justice S H Kapadia said. The apex court said it did not agree that Parliament, on account of its alleged absolute legislative sovereignty, should be deemed to have the powers to enact any and all legislation, even without the requirement that it is for the benefit of India.
Notification No. 13/2011 – Income Tax [F.NO. 203/57/2009/ITA-II], DATED 7-3-2011. It is hereby notified for general information that the organization Karnataka State Sericulture Research and Development Institute, Bangalore has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), with effect from 1-4-2003 onwards in the category of ‘Institution’, partly engaged in research activities subject to the following conditions, namely:-
