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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 assessee is a foreign company, having a branch office as well as a subsidiary in India. The assessee decided to close down its branch office and transfer all its assets and liabilities as a going concern to its subsidiary. The assessee adopted C
The state-owned Indian Infrastructure Finance Company Limited (IIFCL), is offering an unique feature for investors in its current infrastructure bond offering that allows an applicant to choose apply for five bonds of the same series or five Bonds ac
Ahead of the budget session beginning next week, Finance Minister Pranab Mukherjee will hold consultations with senior party leaders tomorrow at the AICC headquarters in New Delhi. With Assembly elections scheduled in five states including West Benga
It is not necessary that the entire amount of debt had to be taken into account in computing the income of the taxpayer. Even if a part of the debt was considered, it was sufficient compliance of provisions of ITA for allowance of such bad debt as he
Notification No. 10/2011 – Income Tax The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the Explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act; (iv) The approved org
Notification No. 9/2011 – Income Tax It is hereby notified for general information that the organization Sinha Institute of Medical Science & Technology, Kolkata 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), for the Assessment Year 2009-10 onwards in the category of ‘Other Institution’, partly engaged in research activities subject to the following conditions
India has entered into a Tax Information Exchange Agreement (TIEA) with the Bahamas. The Agreement was signed on 11th February 2011 by the High Commissioner of India to Jamaica (concurrently accredited to the Commonwealth of The Bahamas) on behalf of
The Delhi High Court has held that the payment made to foreign satellite service providers for use of transponders does not constitute „royalty? and hence is not taxable in India. It provides a welcome relief to the foreign satellite operating compan
The Tribunal has reiterated the principle that a certificate from the tax authorities of the other country regarding residency and beneficial ownership would be a sufficient evidence for beneficial ownership. The Ruling seems to suggest that although
The agreement between India and Bermuda has been entered to enhance co-operation and facilitate the exchange of information with respect to administration and enforcement of the domestic laws with respect to taxes. This may result in greater transpar
