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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 confirmed the Section 69A addition after the assessee failed to produce evidence identifying the alleged farmers or explainin...
Income Tax : ITAT remanded the matter after holding that the CIT(A) passed a non-speaking order without giving reasons or properly considering ...
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 : 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 Income Tax (IT) department in Hyderabad is sitting on a huge pile of cash that it should have returned long ago to those whom the money legitimately belongs: the tax payers. But hiding behind technicalities the department has not bothered to return the money which runs into a whopping Rs 1000 crore.
The UK-based Vodafone Group Plc is confident that it would not have to shell out income tax in India for the Group’s $11.2-billion acquisition of local mobile operator Hutchison Essar Ltd in 2007. The Netherlands- based unit of Vodafone — Vodafone International Holdings BV had acquired a 67 per cent stake in Hutchison Essar, which has since been renamed as Vodafone Essar.
The assessee, a foreign company, without a presence or PE in India, earned long-term capital gains which were exempt u/s 10(38). The assessee applied for a ruling on whether it was liable to pay Minimum Alternate Tax (MAT) u/s 115JB on the said gains. HELD ruling in favour of the assessee:
Office of the Chief Commissioner of Income Tax (CCI-T) has made special arrangements for acceptance of returns from assessees to handle the rush it is likely to witness during the current week. The last day for filing of returns for the assessment year 2010-11 is July 31 (Saturday). The CCI-T has set up special return receipt counters at all the Income Tax offices where taxpayers are assessed.
Notification No. 64/2010-Income Tax S.O. It is hereby notified for general information that the organization KEM Hospital Research Centre, Pune 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 period 1.4.2005 (Assessment Year 2006-2007)
Notification No. 66/2010-Income Tax in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the said Act read with rule 18C of the Income Tax Rules, 1962, the Central Government hereby notifies M/s. DLF Cyber City Developers Limited as an undertaking and the project at Building No. 7A, 7B, 8, 9A, 9B, 10 and Infinity Towers (Block 3/Tower C) in Sector 24, 25, 25A DLF City, Gurgaon, Haryana, being developed and being maintained and operated by the said undertaking, as an industrial park for the purposes of the said clause.
Notification No. 63/2010-Income Tax S.O. It is hereby notified for general information that the organization Technology Information, Forecasting & Assessment Council (TIFAC), New Delhi 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 period 1.4.2003 to 31.3.2006 in the category of ‘Institution, engaged in research activities:subject to the following conditions
It is proposed to create 8 new overseas Income Tax (IT) Units in Indian Missions abroad to have effective exchange of information on tax matters under the Double Taxation Avoidance Agreement (DTAA). Two overseas income tax units at the Indian missions in Mauritius and Singapore have been already set-up.
Diamond merchant Manoj Punamia, one of the key accused in the scam involving former Jharkhand CM Madhu Koda, was arrested on Saturday night upon his arrival at the Mumbai airport from abroad. Punamia, who was barred from travelling abroad, had left the country last week giving a slip to immigration officials despite a lookout notice issued against him. Investigators believe he may have gone to Dubai to eliminate the transaction trails the sleuths were probing.
Expenditure incurred on food and beverages at the guest houses maintained by the assessee; the case of the Revenue is that there is no evidence to show that the impugned expenditure was incurred on the employees in connection with their stay during official visits whereas assessee company submits that the impugned expenditure was incurred for the purpose of business, since company’s employees stayed in the inspection/guest house near factories while carrying out their official duties and during such period food and beverages were provided to them and such expenditure is allowable as deduction under Explanation 2 to Section 37 (2) of the Act.
