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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 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 : ITAT deleted the TP adjustment, allowed 60% software depreciation, but upheld other disallowances, partly allowing the appeal....
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...
Stock broking firms on Monday argued before the Bombay High Court that they are entitled to claim depreciation costs on the value of their Bombay Stock Exchange (BSE) membership cards while calculating their tax liabilities. The Income Tax department has moved the court against more than 100 brokers saying that depreciation cannot be charged on […]
Discover five easy-to-follow security tips for Indian tax payers filing their return online. Protect your personal information and prevent identity theft.
The Centre has changed the definition of ‘income’ under the Income-Tax law to ward off litigation on a Budget proposal on taxation of property passed on as gifts. The gifting route was hitherto used to escape the tax net, but this Budget sought to plug this loophole by bringing to tax, at the hands of […]
The Finance Minister announced a slew of amendments on both income-tax and service tax fronts to achieve the objective of generating economic activity in the present environment of economic slowdown
In Ram Commercial Enterprises 246 ITR 568 (Del) {affirmed in Rampur Engineering 309 ITR 143 (Del) (FB)}, the Delhi High Court held that if the AO did not record his satisfaction that the assessee had concealed particulars of his income before completion of the assessment proceedings, the initiation of penalty proceedings
1. Agricultural income: Any income which you receive as income from any agricultural activity is deemed as not included in total income. If your father is into agriculture and he gives you a part of the income as a gift, then you don’t need to pay tax on it, provided, your father files his tax […]
The Lok Sabha has passed the Finance Bill for 2009-10 by a voice vote on Monday, Finance Minister Pranab Mukherjee has said that economic recovery has begun and India would achieve 8-9 pc economic growth by the end of 2010. Finance Minister Pranab Mukherjee has announced a slew of concessions, including one pc interest subsidy for […]
In a move that could lead to some charitable trusts losing their registration, the income-tax (I-T) department has started scrutinizing the returns they had filed earlier, two officials said. This follows a government directive last year to these trusts to pay income tax on the revenue they earn from commercial activities. “Since not many trusts […]
The income tax return filing process requires that a lot of information be provided to the tax authorities. Most people gear up by ensuring they have collected all the details necessary for ensuring the correct income is shown and the right deductions are available. This is not enough, as individuals need to ensure there is some […]
Madam Speaker, at the outset, I would like to thank all the honourable Members who have participated in the discussion on the Finance (No.2) Bill, 2009. I would also like to thank all other stakeholders who have participated in the debate outside the House. I have immensely benefited from the valuable suggestions made both inside […]
