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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...
Even after introduction of concept of block assets, identity of the individual assets are not lost and the Assessing Officer can restrict the depreciation having regard to the usage of a plant.
Notification No. 38/2010-Income Tax In exercise of the powers conferred by section 295 read with clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules
Notification No. 37/2010-Income Tax In exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments to the Industrial Park Scheme, 2008, namely :-
It has been clarified by the Central Board of Direct Taxes (CBDT) that widening of an existing road by constructing additional lanes as a part of a highway project by an undertaking would be regarded as a new infrastructure facility for the purpose of Section 80IA (4)(i) of the Income Tax Act, 1961.
Driven by a rare sense of complacency, most Mumbaikars who received wrong recovery notices from the income tax (I-T ) department, have not yet chosen to set the record straight. Despite the fact that the I-T authorities have requested people to fill in rectification forms, many have neglected to do so, which means that the amount could resurface as outstanding dues in future.
Recently, the real estate sector in India is becoming an attractive investment ground for the diasporas who have evinced a keen interest in owning residential and commercial properties in India. Ganesh is a non resident Indian residing in London, UK. He wants to buy property in India and seeks advice on the regulatory framework for investing in real estate in India.
In Shree Capital Services 121 ITD 498 (Kol) it has been held by the Special Bench that the amendment to s. 43(5)(d) is neither clarificatory nor retrospective in operation. Consequently, derivatives can be considered non-speculative u/s 43(5)(b) only to the extent they are for hedging purposes;
Whether the ld CIT(A) is justified in holding that the amount received by the appellant from the subscribers are in the nature of fees for technical services to the extent of subscription fees received for providing information/data on various products like financial/ forex/ commodity market and ‘royalty’ for use of equipments such as shared printer, matrix etc., and accordingly, entire receipts are liable to tax @ 20% on gross basis u/s 44D r.w.s 115A.
Industry players today asked the Finance Ministry to extend the last date for e-filing of returns by a month, to October 31, as listed firms would find it difficult to comply with the existing September 30 deadline.
Notification No. 34/2010-Income Tax The Central Government have approved Jeevan Akshay-VI Plan of the Life Insurance Corporation of India as an annuity plan eligible for deduction under clause (xii) of sub-section (2) of section 80C of the Income Tax Act, 1961.
