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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 that computer software is eligible for 60% depreciation and directed the AO only to verify its actual cost before comput...
Income Tax : ITAT Kolkata held that an assessment is invalid where the mandatory notice under Section 143(2) is not issued by the Assessing Off...
Income Tax : The Gujarat High Court upheld the Tribunal's estimation of 6% on disputed purchases, holding that concurrent findings of fact warr...
Income Tax : The Gujarat High Court held that the Assessing Officer relied only on information from the Maharashtra Sales Tax Department withou...
Income Tax : White Willow Vs ITO (ITAT Surat) The Income Tax Appellate Tribunal (ITAT), Surat allowed the assessee’s appeal against the o...
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 assessee is engaged in rendering Business & Management Consultancy and Marketing Services to its various clients against payment of professional fees. The assessee invested Rs 2,00,00,000/ – in 14,38,848.929 units of Sun F &C fund. The dividend of Rs.43,16,546. 70 received on 22.02.2001 was also reinvested in 4,09,151.252 units of the said fund as per the scheme of reinvestment plan.
. Section 132(1) empowers the Director General or Director or the Chief Commissioner or Commissioner or any such Joint Director or Joint Commissioner, as may be empowered in this behalf by the Board to authorize Joint Director, Joint Commissioner or other lower authorities to conduct the search if the former authority has reason to believe that the case falls under clauses (a) to (c) of subsection (1).
The Division Bench in the facts of the case had held that there was absence of any material to show that generally there was a profit in the hospital activities of the petitioner therein. In this context, it was held that it cannot be said that the petitioner did not exist solely for philanthropic purpose but, for the purpose of profit and the rejection of the application of the petitioner therein was held not valid
CIT Vs. Indersons Leather P. Ltd. (P&H HC)- The assessee company, after discontinuing its manufacturing business, leased out its shed along with fittings and disclosed the income as income from business, whereas the Revenue contended that the same be assessed as “Income from house property. The issue under consideration is whether penalty under section 271(1)(c) can be imposed in such a case. On this issue, the High Court observed that, mere raising of a debatable issue would not amount to concealment of income or furnishing inaccurate particulars and therefore, penalty under section 271(1)(c) cannot be imposed.
Any sum received under a life insurance policy including any bonus thereon will be exempt, only if the premium does not exceed 5% of the capital sum assured and such sum is received only upon completion of the original period of contract or upon the death of the insured.
It’s Traditionally been viewed as a retirement saving tool and one that allows you to avail of tax deductions. In fact, you will find that most conversations about provident funds only take place during the income-tax filing season, or when salaried individuals are retiring or leaving one organisation for another. In fact, fairly little is […]
Easily view your tax credit online: check the advance tax paid and TDS deducted by registering for this convenient service.
The assessee, having been assessed to a loss of Rs. 9 crores, filed an appeal before the Tribunal. S. 253 (6) provides that if the assessed ‘total income’ is “less” than Rs. 1 lakh, a fee of Rs. 500 for filing the appeal is payable while if the income is “more”, a higher fee is payable subject to a maximum of Rs. 10,000. The Tribunal took the view that if the loss was more than Rs.1 lakh
The government has proposed to extend the excise waiver and income-tax holiday benefit to power projects based on supercritical technology, including large-sized energy-efficient power equipment. The proposal is part of the new mega power policy being worked out. The existing policy has no provision for giving incentives to the new-generation supercritical power projects.
The Central Administrative Tribunal (CAT) has favoured direct recruitment to the post of senior vice president or vice president in the Income Tax Appellate Tribunal (ITAT) and not through promotion.
