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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 held that remuneration to trustees must be examined for reasonableness and cannot be disallowed merely because it was paid to...
Income Tax : ITAT held that a BSNL employee absorbed from DoT is entitled to exemption for ex gratia and leave encashment by treating the emplo...
Income Tax : ITAT held that foreign tax credit cannot be denied solely because Form No. 67 was filed after the return, subject to verification ...
Income Tax : ITAT directed the AO to verify Form 26AS and the corresponding income before deciding the TDS credit claim instead of denying it o...
Income Tax : ITAT held that Section 54F deduction cannot be denied where capital gains are invested in a residential house within the prescribe...
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...
Majority of Indian companies feel tax incentives from the government are needed to accelerate adoption of energy-efficient business practices, according to a survey.According to the survey by workspace solutions provider Regus, though India has been criticised for its high emission levels, around 30 per cent companies here monitor their carbon footprint.
In a fresh move, the Finance Ministry today said income tax payers will have to mention receipt number of tax deducted at source (TDS) forms in the returns to claim refunds, from this fiscal. Tax payers will have to mention this number along with his permanent account number (PAN) and Tax-deduction Account Number (TAN) of the deductor, otherwise refunds may not be considered.
The Central Board of Direct Taxes (CBDT) have directed the Income Tax Department (ITD) to make arrangements for receiving income tax returns on 31st July 2010, the due date for filing tax returns by most taxpayers, as that day happens to be a Saturday.
Some companies take large loans to take the benefit of tax deduction. It means if the loan amount is high, the companies need to pay higher amount of interest and all this interest will be tax free. Means companies may use it as a tax saving instrument. Like if the companies take the equity capital instead of loan, then the companies need to pay dividend which is almost like interest amount and the dividend is not tax free, one need to pay income tax first and then distribute dividend to the shareholders. But now government is planning to introduce ‘thin capitalization’ rule to check this type of tax evasion.
Download the Circular No. 5/2010 issued by CBDT dated 03rd June 2010 having 63 Pages which explains the provisions of the Finance (No. 2) Act, 2009. The file is in PDF format and explains all the provision in simple and understandable language.
Question is that whether IDR is a derivative product, shares or security. Derivative means future and options. If it can be listed as future and options then IDR may be derivative product in addition to other type of asset. It is not shares as shares are not allotted by the bank to the applicants. As you say ten IDR representing one share but if shares are actually not allotted, the name of IDR holder not entered in the register of members then it cannot be said that IDR is share. Now question is that whether it is security?
The Income Tax Department has, in a 761-page order, asserted its jurisdiction to tax Vodafone Group Plc’s $11.2 billion deal with Hutchison Telecommunications International in 2007, saying the deal was designed to hoodwink tax authorities by showing it had taken place abroad.
The Income Tax Department has filed a caveat in the Bombay High Court in the Vodafone tax case. The caveat was filed to avoid ex-parte proceedings. Vodafone is likely to move the Bombay High Court next week. It is learnt that theIncome Tax Department has issued a seven-page showcause with its final order. The showcause represents new proceedings against Vodafone and relates to representative assesses.
Investors in the Employee Provident Fund (EPF), Public Provident Fund (PPF) and insurance plans for retirement have a reason to worry. The Direct Tax Code (DTC), meant to replace the existing Income Tax Act, proposes to introduce the exempt-exempt-taxation (EET) regime for all retirement corpuses.
By the end of this fiscal, income tax payers will be able to get all their problems relating to filing of returns and obtaining of refunds, among others, addressed at nine more help centres. The Income Tax Department has decided to set up help centres at 12 cities, including Kolkata, Coimbatore and Surat, to address the problems of tax payers. At present, help centres exist at three places in the country.
