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Income Tax : The guide compiles the principal Income-tax Act provisions applicable to non-residents establishing business in India and resident...
Income Tax : CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination b...
Income Tax : Tax on dividends, interest, royalties and FTS earned by non-residents is governed by the more beneficial rate under the Income-tax...
Income Tax : The applicable withholding tax depends on the Income-tax Act or the relevant DTAA, whichever is more beneficial. Treaty rates diff...
Income Tax : The document provides a detailed summary of the special tax provisions applicable to different securities and classes of taxpayers...
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 the assessment time-barred as the AO failed to pass the final order within the mandatory timeline under Section 144C(13)...
Income Tax : Tribunal partly allowed the assessee's appeals by granting relief on transfer pricing, scientific research deduction, product regi...
Income Tax : The High Court held that the assessment was time-barred as it was not completed within the mandatory period under Section 144C....
Income Tax : ITAT held that mere transfer of records cannot replace a valid transfer of jurisdiction under Section 127, rendering the assessmen...
Income Tax : The Court held that the Section 148 notice was invalid as it was issued by an Assessing Officer who no longer had jurisdiction....
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...
As per the provisions of section 43B(f) of the Income-tax Act, 1961 (the Act), any sum payable by the assessee as an employer in lieu of any leave at the credit of his employee shall be allowed only in the previous year or financial year in which such sum is actually paid by him. In other words, the claim for deduction in respect of the provision made by an assessee-employer in relation to the liability under the leave encashment scheme
1. Please use Ink Jet /Laser printer to print the ITR-V Form. 2. The ITR-V Form should be printed only in black ink. 3. Do not use any other ink option to print ITR V. 4. Use of Dot Matrix printer should be avoided.
The Income-Tax Appellate Tribunal (ITAT) has held that any expenditure, which is viewed as an offence or is prohibited by law, but is of a commercial nature incurred in the normal course of business, can be treated as an outgo at the time of calculating tax liabilities.
The Central Board of Direct Taxes (CBDT) has introduced a new software programme, called ‘360 degree profiling’, which would provide automatic alerts for scrutiny assessment of an individual or a company to the income tax department, based on its investments and expenditure.
(1) The Act broadly provides for two types of tax incentives, namely, investment linked incentives and profit linked incentives. Ch VI-A essentially belongs to the category of “profit linked incentives” (2) When ss. 80-IA/80-IB refer to profits derived from eligible business, it is not the ownership of that business which attracts the incentives but the generation of profits (operational profits)
Notification No. 65/2009 – Income Tax In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
Learn about the modified e-TDS/TCS data structure and new File Validation Utility introduced by the Income Tax Department since October 1, 2009.
THE Supreme Court will decide whether private telecom operators are liable to deduct TDS for the payments made to the state-owned BSNL and MTNL for inter connectivity. A bench comprising Justice SH Kapadia and Justice Aftab Alam on Friday issued notice to Bharti Airtel on the plea of the income-tax department.
The second instalment of arrears under the Sixth Central Pay Commission award will not only put more money in the pockets of Government employees, but may also bolster direct tax collections. Sensing a good tax mop-up opportunity from this large payout, estimated at about Rs 17,000 crore, the Central Board of Direct Taxes (CBDT) has advised […]
1. This is an appeal preferred by the Revenue under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the „Act‟) against the judgment dated 09.03.2007 passed by the Income Tax Appellate Tribunal (hereinafter referred to as the „Tribunal‟) in ITA No. 4125/Del/1999 in respect of assessment year 1996-97. The Revenue is aggrieved by virtue of the fact that by the impugned judgment
