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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 : SC issued notice as Delhi HC quashed Section 153C notices beyond the ten-year block period while clarifying key principles on sear...
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 : 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...
We have duly considered the rival contentions and the material on record. The crux of the matter is to determine the true character of the receipt in the hands of the assessee and not the utilization thereof. The utilization will not determine the nature of the receipt. The assessee may mis-utilise the funds but that will not either determine or change the character of the receipt. The foremost thing to be appreciated is that the assessee has taken
The party could end soon for domestic and multinational companies that do tax planning only to avoid paying taxes in India. The government is set to usher in the next stage of reforms in taxation, framing anti-abuse rules that will empower tax authorities to lift the corporate veil and look for what are called `avoidance’ […]
The Following Benches will not function during the period 22.06.09 to 26.06.09:- “A-1, B-1, E-1,K, SMC & WT ” The cases are adjourned to respective dates. Please see separate Notice.
The finance ministry is considering a proposal to extend the tax exemption on inter-corporate dividends further down the chain of corporate subsidiaries in the upcoming Union Budget, a long-standing demand from India Inc. “The proposal is under consideration but a final decision has not been taken,” said a senior government official. The move is expected […]
Notification No. 49/2009 – Income Tax Whereas the annexed Agreement between the Government of the Republic of India and the Government of the Union of Myanmar for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income has been signed in India on the 2nd day of April, 2008 and notifications of the procedures completed, as required by Article 29 of the said Agreement
Notification No. 48/2009 – Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies for the purposes of the said clause, every officer of or above the rank of Superintendent of Police in the Vigilance Bureau, Government of Jharkhand
The government is considering a proposal to hike income-tax exemption Make these charges part of your budget available for interest payment on home loans to Rs 2.5 lakh a year, to boost demand and rebuild the slowdown-hit housing industry.The ministry of housing and urban development has urged finance minister Pranab Mukherjee to make an announcement to […]
Income Tax Department released on yesterday 15/06/2009 software utility for E-Filing of Income tax Return for Partnership firms i.e. ITR-5 and Income Tax Return for E-Filing of Companies i.e. ITR-6. Department already released ITR-1, ITR-2, ITR-3 and ITR-4. We can access the same at given below link:-
Foreign firms earning through underwriting services in India without having a permanent establishment here will not be required to pay tax on that income, tax tribunal said in a ruling. Income Tax Appellate Tribunal (ITAT) gave this ruling in case of over Rs nine crore payment by auto maker Mahindra and Mahindra
Benefit in lieu of salary payable to an employee opting for voluntary retirement is exempted from being charged to tax to the extent of Rs. 5 lakhs by reason of section 10(10C); even if the payment is stretched over a period of years, the same would not become chargeable to tax in any subsequent assessment year
