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Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
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 : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Delhi High Court held that ₹25 lakh paid under a prior agreement to sell was deductible under Section 48(i) as it was incurr...
Income Tax : The Chennai ITAT held that payments received by a UAE resident could not be taxed as Fees for Technical Services in India because ...
Income Tax : The Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
Income Tax : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
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...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
ITAT Delhi ruled that validly filed Form 10-IC ensures eligibility for Section 115BAA concessional tax rate. Key takeaway: timely filing secures lower corporate tax in subsequent years.
Tribunal upholds disallowance of ₹76 lakh paid for regularizing building deviations, ruling such compounding fees are penalties under Section 37(1) and not deductible.
Tribunal ruled that amendments to Section 11(3) of Income Tax Act are prospective. Accumulated charitable funds utilized within permitted 5+1 years cannot be taxed, overturning prior additions.
The Tribunal dismissed Revenue appeals for AYs 2006-07 and 2007-08 as the corporate debtor is under CIRP. Section 14(1) moratorium bars all proceedings, ensuring compliance with the Insolvency and Bankruptcy Code.
Explains proper disclosure of foreign custodial accounts, RSUs, MMFs, and dividends. Key takeaway: each income type requires separate reporting to stay compliant.
A clear guide on how US dividends are taxed under the India–US DTAA. Key takeaway: US withholding is capped at 25%, but India taxes dividends fully with FTC relief.
The Court condoned a 31-day delay in filing Form 10B after finding the reasons bona fide and linked to COVID-19 disruptions. It set aside the rejection order and directed reprocessing of the return with exemption benefits.
The AO reopened the assessment relying on external investigation without verifying facts, misclassifying the advance as unexplained income. Tribunal dismissed Revenue appeal and confirmed CIT(A) order.
ITAT Delhi allowed the appeal after noting the CIT(A) ignored a revised Tax Audit Report proving timely PF/ESI payments. Key takeaway: revised audit reports must be considered before confirming disallowances under Section 36(1)(va).
ITAT Delhi restored the appeal to CIT(A) after the assessee challenged notice issuance beyond limitation and under wrong section. Key takeaway: adherence to correct procedure is crucial in income tax assessments.
