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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...
Pyramid Infrastructure Pvt. Ltd. Vs DCIT (ITAT Hyderabad) – The issues taken up by the CIT for revision of assessment under section 263 of the Act, namely, work-in-progress & closing stock, opening stock, and dis-allowance of expenditure on account of various heads, have already been considered by the assessing officer in the assessment proceedings under section 143(3) of the Act.
The Tribunal held that income earned by the taxpayer on sale of factory building, plant and machinery although not taxable as “Profit and gains of business or profession” was in the nature of income of business though assessed as capital gains and h
he Explanation to s.73 creates a fiction that the loss suffered by certain companies from the business of purchase & sale of shares shall be deemed to be speculation loss. The Explanation is not inconsistent with the object of introduction. The CBDT
The Assessee had a unit at Bhopal which was not functioning since the assessment year 1997-98. For the assessment year 1998-99, the assessee claimed depreciation in respect of closed unit at Bhopal on the ground that depreciation would be allowable s
As on 11/2/2011 it has processed over 34.1 lakh e-filed returns of AY 2010-11 in all categories of ITRs including Corporate Returns and generated refunds in over 8.6 lakh cases. The Income Tax Department has now extended the last date for sending ITR
The insurance industry wants the government to create a separate tax exemption limit of Rs 50,000 for life insurance premium in the forthcoming Budget to encourage more individuals to buy such policies.
Software vendorwise percentage of correction TDS/TCS statements accepted and rejected at TIN central system for the period October 1, 2009 to December 31, 2010
The Centralized Processing Center of the Income Tax Department at Bangalore, which was established to mass-process Income Tax Returns has bagged the Gold Award in the category “Excellence in Government Process Re-engineering” at the 14th National e-G
Finance Minister Pranab Mukherjee will soon give the green signal to the payment of 9.5 per cent interest rate on provident fund deposits during 2010-11, a senior government official said on Tuesday. “We can get ratification on 9.5 per cent for th
The argument that “controlling interest” was transferred with the shares was not acceptable as the share purchase agreement had been signed by the Power of Attorney (“POA”) holder. In the absence of the copy of the same, which would determine whether
