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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 guide explains the FY 2025-26 tax slabs, enhanced rebate benefits, and key filing requirements under the default new tax regime. The takeaway is that accurate reporting and document verification are essential to avoid notices and errors.
This article explains depreciation provisions under the Income-tax Act and Companies Act, including WDV, SLM, additional depreciation, and unabsorbed depreciation. The key takeaway is that correct asset classification and applicable rates are crucial for accurate tax computation and compliance.
The provisions detail deductions for investments, insurance, pension contributions, home loans, medical expenses, charitable donations, and business expenditures. The key takeaway is that proper tax planning and compliance can significantly enhance available tax benefits.
The Kerala High Court held that the authority rejected a condonation request solely on the basis of CBDT Circular No. 11/2024 without examining the taxpayer’s claim under Circular No. 9/2015. The matter was remanded for fresh consideration.
The article explains who can apply for Advance Rulings, the transactions covered, applicable forms, fees, procedures, and appeal rights under the Income-tax Act. The key takeaway is that Advance Rulings provide taxpayers with binding tax clarity on specified transactions, helping reduce disputes and uncertainty while ensuring compliance with tax laws.
ITAT Delhi sustained a Section 69A addition on demonetisation-period cash deposits after finding 539 identical cash sale vouchers lacked credibility. The Tribunal held that the assessee failed to satisfactorily establish the genuineness of the sales and deposits.
The ITAT Mumbai restored the matter to the Assessing Officer after noting that the assessee had not explained the source of investments in deposits and foreign currency purchases. Fresh adjudication was directed after granting a reasonable opportunity of hearing.
ITAT Delhi held that a concealment penalty under Section 271(1)(c) cannot be sustained where the addition is based on estimation of gross profit. The penalty was accordingly deleted.
The article explains who can file appeals before the Income Tax Appellate Tribunal, the orders that are appealable, applicable timelines, fees, stay provisions, and procedural requirements.
The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of records, and non-compliance with tax notices can trigger prosecution under the Income-tax Act.
