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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 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 : NCLAT held that a single application covering multiple years and company officers is maintainable in the absence of any statutory ...
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...
Intimations of refunds and demands undelivered by the postal authorities, thanks to incomplete address, and those unclaimed for were returned to the income tax department’s centralized processing centre. The undelivered intimations are available with the public relations office at CR Buildings, ground floor, Queen’s Roa. They can be obtained by producing identity proof on any working day between 2.30 pm and 6 pm. The list of such relevant PANs is available on www.incometaxbangalore.org.
WITH computerisation gaining pace in the Income Tax Department, and the policy makers’ reliance on machine increasingly growing, the CBDT has finally decided to switch over computer-generated certificates and do away with the manual exercise for issuing withholding tax certificates under Sec 197. In its latest direction to the field formations, the CBDT topbrass has issued Instruction No 04/2010, directing Assessing Officers (AOs) to mandatorily issue Sec 197 Certificates only through the system.
The Income-tax department can tax even a payment made to a foreign entity outside India, if the transaction has a business connection within the country, according to a verdict passed last week by the Income Tax Appellate Tribunal, Mumbai.
Sweeping changes to tax laws not only cause problems but also complicate business matters. Senior citizens or foreign entities that do not have a fixed place of business in India must be exempt from the requirement of having a PAN. All countries want a share of the tax pie, but the law should not be complex.
Under the new model of RML launched last year, banks will pay a lump-sum amount to a life insurance company, which in turn makes annuity-based payment to the borrower. The catch, however, is that the interest payable by the borrower is treated as accrued interest and liable to income tax in the hands of the bank.
Alarmed by the initial findings of its departmental inquiry, the income-tax (I-T ) department has moved the Central Bureau of Investigations (CBI) to probe the ‘tax return scam.’ The hand of several I-T officials working in tandem with some rogue tax agents is suspected in the scam to siphon off refunds.
The assessee, an Indian company, entered into an agreement with a Chinese company for bauxite testing services in its laboratories (outside India) and for preparation of test reports. The assessee filed an application u/s 195(1) in which it argued that as the services were rendered outside India and the recipient did not have a permanent establishment in India,
The Mumbai Bench of the Income-tax Appellate Tribunal (‘Tribunal’) in the case of T Two International Pvt. Ltd., Tara Jewels Exports Pvt. Ltd. and Tara Ultimo Pvt. Ltd. (See Note-1) (‘the ‘Company’ or ‘taxpayer’), held that in order to determine the arm’s length price of the international transaction, the arm’s length margin should be applied only on the international transaction and not on the entire costs / sales of the taxpayer, as the case may be.
The Income Tax department has set up the Centralized Processing Centre (CPC) at Bengaluru for bulk processing of income tax returns. The CPC will process all electronic tax returns of the entire country, and physical returns of Karnataka and Goa regions. It is equipped with a dedicated call centre, where taxpayers can enquire about the status of their returns and refunds, and also has a remote record storage unit, which would reduce congestion in the IT offices.
Notification No. G.S.R. 455(E)-Income Tax In exercise of the powers conferred by Explanation to sub-section (2) of section 18A of the Central Sales Tax Act, 1956 (74 of 1956), the Central Government hereby appoints the 1st June, 2010 as the appointed day for the purposes of the said sub-section (2) of section 18 of the said Act.
