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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...
References have been received by the Board from a large number of taxpayers, especially from mofussil areas, that the existing monetary limits for assigning cases to ITOs and DCs/ACs is causing hardship to the taxpayers, as it results in transfer of their cases to a DC/AC who is located in a different station, which increases their cost of compliance.
Tax payers can expect some relief from high inflation in Budget 2011-12 as the government may raise the income tax exemption limit for individuals. Finance Minister Pranab Mukherjee is alive to the price situation and its impact on the common man,” s
India is considering allowing new private sector banks, including those by industrial houses, and a roadmap for the same could be announced in the Union Budget to be presented later this month.While the formal and final guidelines regarding who should be allowed to set up new banks and what should be the terms and conditions would be announced by the Reserve Bank of India (RBI), a roadmap could be announced in the Budget speech on February 28 by Finance Minister Pranab Mukherjee, sources said.
The Income Tax department has alerted its air intelligence units at all airports in the country after it detected unaccounted wealth of Rs 33 crore and seized Rs 8.3 crore worth of diamonds from the IGI airport here recently. The I-T sleuths are also
Commerce and Industry Minister Anand Sharma today said the Government will soon announce incentives for labour intensive export sectors, notwithstanding high growth in the shipments during December. “I do plan to announce export sops to labour inte
Union Finance Minister, Shri Pranab Mukherjee and Norwegian Minister of Research and Higher Education, Ms Tora Aasland signed an agreement, here today for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and on capital (DTAA). This will replace the existing Convention signed between the two countries on the same subject on 31st December 1986.
The budget session of Parliament will begin on Feb 21 and the general budget is slated to be presented to Lok Sabha on Feb 28. The decision to recommend the date for convening of the session to the President was taken at a meeting of the Cabinet Co
Audit report under section 44AB of the Income-tax Act, 1961, in the case of a person referred to in clause (b) of sub-rule (1) of rule 6G Downloads Income Tax Form 3CB in Excel
Audit Report under section 44AB of the Income-Tax Act, 1961, in the case where the accounts of the business of a person have been audited under any other law. Downloads Download Income Tax Form 3CA in Excel
It is pertinent to note that the Central Board of Direct Taxes had issued Circular No. 7/2007 dated 23 July 2007 which provides the procedure and circumstances for refund of tax deducted at source under section 195 of the Act to the tax deductor. How
