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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...
The Karnataka High Court directed removal of encroachments from the road margin and civic amenity site after holding that the land claimant had no established right over the property. The Court dismissed the challenge to the survey and ordered action within eight weeks.
The Income-tax Act, 2025 restructures India’s direct tax framework by reducing sections, introducing new tax slabs, and consolidating TDS provisions. The reforms simplify compliance while largely retaining existing tax deduction thresholds and rates.
The FAQs explain how eligible informants can receive rewards of up to ₹1 crore for providing actionable information on benami properties. They also outline eligibility, confidentiality, reward computation, and the conditions for claiming rewards.
The Income Tax Department has clarified the purpose, contents, and access to the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). The FAQs explain how taxpayers can verify financial information and submit feedback to ensure accurate income tax return filing.
The Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under the PBPT Act. The guidance also details confiscation procedures, prosecution, statutory exceptions, and appeal mechanisms.
The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exemptions for charitable and religious trusts. The guidance also clarifies compliance requirements and circumstances that can lead to cancellation of registration and loss of exemptions.
Old Regime vs New Regime for Salaried Employees in FY 2026-27: A CA’s Optimisation Checklist The article explains that no changes were made to the income tax slab rates in the Union Budget 2026, and the tax structure introduced in Budget 2025 continues for FY 2026-27 (AY 2027-28) under both the old and new tax regimes. It […]
The Tribunal affirmed the CIT(A)’s order annulling assessments because the search was not conducted in the assessee’s name. It also noted that the Revenue’s appeals were not maintainable due to the low tax effect.
The ITAT held that the Supreme Court’s COVID-19 limitation extension did not apply to statutory timelines for completing income-tax assessments. It dismissed the Revenue’s recall application and upheld the earlier order quashing the assessment as time-barred.
The ITAT Raipur held that estimated gross profit addition on unrecorded sales cannot be sustained when the Assessing Officer has not rejected the books of account under Section 145(3). The Tribunal deleted the addition after finding the assessment contrary to settled legal principles.
