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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...
Explore Chennai Water Board Tax Case with TDS on loss-making payee, interest levy, and proportionality issues under the Income Tax Act.
Whether salary credited to a bank account in India for services rendered there by a non-resident was taxable in India?
This decision is relevant to assessees following RBI guidelines for accounting for interest rates swaps. Companies which are claiming unrealised loss on outstanding interest rate swaps at the year end would find this ruling useful. While this ruling
Calcutta High Court in the case of PILCOM v. CIT , held that if any payment in the nature of guaranteed amount was paid to any non-resident sports association in relation to any match played in India, the provisions of section 194E of the Income-tax Act, 1961 would be applicable with respect to deduction of tax at source. Furthermore, the HC has held that the provisions of section 115BBA of the Act which deals with taxability of non-resident sportsmen or sports associations, are independent from the other provisions of the Act and would override the generality of section 9(1) of the Act which deals with the accrual or assessing of income in India.
The Chennai Tribunal has held that payments towards IPLC / dedicated bandwidth are towards use of ‘equipment’ or ‘process’ and therefore would qualify as royalty under the Act as well as DTAA. It may be noted that the proposition on ‘process’ eleme
Recently, the Delhi High Court (High Court) in the case of CIT v. Whirlpool of India Ltd. (ITA No. 1154 of 2009) (Judgement date: 24 January 2011 Assessment Year 1996-97) held that additional provision for warranty made was not contingent liability
In principle, the CUP method (the traditional transaction method) is preferable to the other methods because all other things being equal, the CUP and traditional transactional methods lead to more reliable results vis-a-vis the results obtained by a
The learned CIT has also given one more reason that it is not comprehensible as to why not the assessee got itself registered as a society,if the motive of the assessee was to do activities of public charity. This reason given by the CIT is found, in
Industry chamber Assocham today asked the government to re-introduce the tax exemption scheme to promote affordable housing in the forthcoming Budget for 2011-12. The chamber also said real estate sector should be accorded infrastructure industry sta
The Income-Tax department has filed an appeal in Bombay High Court against an order of its tribunal allowing Bollywood actor Shah Rukh Khan to seek tax reliefs for using his membership at Otters Club in suburban Bandra and his BMV Range Rover car for
