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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
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 : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
This guide explains when Section 206AA requires TDS at a higher rate due to non-furnishing of PAN and the applicable exceptions. It also highlights the reduced rate available for deductions under Sections 194-O and 194Q.
Learn how TDS on rent is governed under Sections 194-I and 194-IB, including eligibility, deduction rates, thresholds, and compliance requirements. The guide explains when TDS applies and the procedures for deduction and deposit.
Tribunal held that final assessment order was time-barred because it was passed after mandatory period prescribed under Section 144C(13). Assessment was set aside, making remaining transfer pricing issues academic.
This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and compliance requirements. It also clarifies which provision prevails when both sections apply to the same transaction.
The ITAT held that a transfer pricing order issued without authentication or a digital signature is invalid in law. Consequently, it quashed the ₹85 crore transfer pricing adjustment and allowed the assessee’s appeals.
The ITAT held that an opening cash balance cannot be treated as unexplained merely because the previous year’s income tax return reflected nil cash. It deleted the addition after accepting the assessee’s explanation regarding accumulated withdrawals from taxed income.
This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and income thresholds. It also outlines the consequences of non-compliance and the prescribed record-keeping requirements.
The ITAT held that the Assessing Officer disallowed interest expenditure without adequately verifying the records or confronting the assessee. The matter was remanded for fresh adjudication after providing an opportunity of hearing.
The ITAT held that the Assessing Officer failed to produce any material establishing a connection between the assessee and the alleged accommodation entry provider. It upheld the deletion of the Section 69A addition for lack of supporting evidence.
Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income covered. Understand which provision applies to you and when these deductions cannot be claimed.
