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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...
ITAT Bangalore remands 8% income estimation under Section 44AD based solely on bank deposits, directing fresh assessment on proper evidence.
ITAT Bangalore held that additions made in an intimation under Section 143(1) cannot be disputed in an appeal against a scrutiny assessment under Section 143(3) if those issues were not examined during scrutiny.
Interest on delayed payment of the FM radio migration fee was a compensatory business expenditure deductible under Section 37(1); no disallowance under Section 14A could be made in the absence of exempt income; CSR contributions made to an approved institution remained eligible for deduction under Section 80G notwithstanding the disallowance under Section 37(1)
Learn how the Rs. 75,000 standard deduction and Section 87A rebate reduce tax liability to nil for eligible salaried taxpayers under the New Tax Regime.
ITAT Pune held that BSNL VRS-2019 compensation qualifies as retrenchment compensation under Section 10(10B), allowing tax exemption and consequential refund.
ITAT Delhi held that a single satisfaction note for multiple assessment years fails the mandatory requirements of Section 153C, rendering the assessment void for lack of jurisdiction.
The Court quashed criminal proceedings after finding that the petitioner had ceased to be a director before the due date for filing the company’s income tax return. Documentary records established the absence of liability
The FAQs explain that FAST-DS, introduced through the Finance Act, 2026, offers eligible taxpayers a one-time opportunity to disclose undisclosed foreign assets and income in return for immunity from specified penalties and prosecution under the Black Money Act, subject to prescribed conditions.
CBDT has notified the Indian Institute for Human Settlements as an approved institution for social science and statistical research under Section 45. The approval is valid from tax years 2026-27 to 2030-31, subject to prescribed compliance conditions.
Penalty under section 271DA could not be sustained merely on the basis of unverified seized data without independent corroborative evidence. Revenue must conclusively establish violation of section 269ST, and where assessee had disclosed the income and paid due taxes, penalty was not automatic and must satisfy the test of reasonableness and statutory conditions.
