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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...
Metalman Auto Pvt. Ltd. Vs. CIT, Ludhiana(High Court of Punjab and Haryana At Chandigarh) – Whether ITAT is justified in law in allowing deduction u/s 80IB on labour job receipts ignoring the fact that such income is not ‘derived from’ the eligible business of industrial undertaking of the assessee company? – Whether ITAT is justified in law in allowing deduction u/s 80IB on other miscellaneous income being misc. receipts, rebate & discount and balances written off etc. whereas such income is not ‘derived from’ the eligible business of industrial undertaking of the assessee company?
In a bid to curb generation of black money during the upcoming assembly polls in five states, the Election Commission today asked the Income Tax department to keep a check on suspicious movement of cash and hawala brokers. At a high-level meeting C
IFCL is a wholly-owned Government company providing financial assistance to long-term infrastructure projects. As on 30 Sept 2010; 105 of the 124 projects for which IIFCL has sanctioned finances. As on March 31, 2010 and September 30, 2010, it had n
The Supreme Court Thursday was told that the government will reveal the names of all the people who have stashed away their black money in foreign banks abroad after it registers cases against them. The government’s assurance to the apex court bench
After deciding to deploy revenue service officers at eight overseas Income Tax units, the government will now depute IRS officers to an international economic body OECD to enhance Indian capabilities in tackling money laundering, tax crimes and bribe
The US was extraordinarily frustrated with the slow pace of opening up of Indian economy, despite the issue being raised at the highest level, a top Obama Administration has said As you know, (the US) President (Barack) Obama led in exports and a mission to India as part of his Southeast Asia trip last year and I will be honest, we have been extraordinarily frustrated at the slow pace of opening that market, US Trade Representative Ron Kirk said at a Congressional hearing
India has entered into a pact with the British Virgin Islands for exchange of information to check tax evasion and money laundering. This is the third Tax Information Exchange Agreement (TIEA) — as it is known in the parlance of the Organisation for Economic Cooperation and Development (OECD) — signed by India.
In exercise of its powers under section 119(2)(b) of the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) hereby extends the time limit for filing ITR-V forms relating to income-tax returns for A.Y. 2010-11 filed electronically (without digital signature) on or after 1st April, 2010. These ITR-V forms can now be filed upto 31st July, 2011 or within a period of 120 days from the date of uploading of the electronic return data, whichever is later.
Signals that Government may agree to formation of a JPC to probe the 2G spectrum scam emerged today after talks between government and the opposition to break the stalemate in Parliament ahead of the Budget Session. Coming out of the hour-long all-party meeting convened by Finance Minister Pranab Mukherjee, opposition leaders claimed there was consensus on the JPC issue and both the sides were keen that Parliament should function.
The Indian IT industry has sought extension of tax benefits under STPI and simplification of the tax structure to encourage investments in the sector, among others as part of its budget wish-list. The USD 76 billion software industry has requested the government to extend the Software Technology Parks of India (STPI) scheme till the Direct Tax Code (DTC), which is under consideration, is implemented.
