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FAQs on Faceless Income-tax Proceedings

Income Tax : The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiri...

June 20, 2026 5157 Views 1 comment Print

FAQs on agricultural income taxation (Section 2(1A) and Rule 7)

Income Tax : The Income Tax Department has issued detailed FAQs explaining the meaning, computation, and tax treatment of agricultural income u...

June 20, 2026 10155 Views 1 comment Print

Director Resignation Procedure under Companies Act, 2013 (Unlisted Public Company)

Company Law : This guide explains the procedure for director resignation under Section 168 of the Companies Act, 2013, including DIR-12 filing, ...

June 20, 2026 99 Views 0 comment Print

LLP Registration in India: Complete Guide with Costs & Compliance

Corporate Law : This guide explains LLP registration, eligibility, costs, annual compliance, and the latest 2025-26 changes, including the new Sec...

June 20, 2026 87 Views 0 comment Print

India’s Direct Tax Revolution: New Sections New Tax Slabs

Income Tax : The Income-tax Act, 2025 restructures India's direct tax framework by reducing sections, introducing new tax slabs, and consolidat...

June 20, 2026 63 Views 0 comment Print


Latest News


IRDAI Invites Comments on Reinsurance Regulation Changes to Simplify Registration

Corporate Law : IRDAI has released draft amendments simplifying the registration framework for foreign reinsurers and Lloyd's India while introduc...

June 20, 2026 108 Views 0 comment Print

IRDAI Proposes Perpetual Registration for Insurance Surveyors and Loss Assessors

Corporate Law : IRDAI has proposed replacing the existing three-year licence system for insurance surveyors and loss assessors with a perpetual re...

June 20, 2026 111 Views 0 comment Print

IRDAI Proposes Perpetual Registration for TPAs Under Draft Amendment Regulations

Corporate Law : The Exposure Draft revises the regulatory framework governing Third Party Administrators by introducing annual fee obligations, co...

June 20, 2026 165 Views 0 comment Print

IRDAI Proposes New Penalty Rules to Ensure Fair Insurance Enforcement

Corporate Law : IRDAI has issued draft regulations prescribing a transparent procedure for imposing penalties under insurance laws. The proposal e...

June 20, 2026 114 Views 0 comment Print

Advance Tax Collections Grow 15.30% due to Higher Corporate Tax Payments

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...

June 19, 2026 153 Views 0 comment Print


Latest Judiciary


Karnataka HC Grants PMLA Bail as Undertrial Completed Half of Maximum Sentence Period

Corporate Law : The High Court observed that investigation had concluded, charge sheets had been filed, and proceedings were stalled due to stays ...

June 20, 2026 30 Views 0 comment Print

Calcutta HC Grants PMLA Bail as Prolonged Incarceration Outweighed Section 45 Rigours

Income Tax : The Calcutta High Court held that although the petitioner failed to satisfy the twin conditions under Section 45 of the PMLA, prol...

June 20, 2026 27 Views 0 comment Print

Late Fee on Supplementary Bills of Entry Set Aside as Delay Was Not Importer’s Fault

Custom Duty : The Tribunal held that late fees could not be imposed where supplementary Bills of Entry were filed due to excess cargo discovered...

June 20, 2026 27 Views 0 comment Print

ITAT Quashes Section 153C Assessment as Satisfaction Note Was Common for Multiple Years

Income Tax : The ITAT Delhi held that a consolidated satisfaction note covering several assessment years without year-specific analysis failed ...

June 20, 2026 33 Views 0 comment Print

Section 263 Revision Invalid as Mandatory Section 143(2) Notice Was Never Issued

Income Tax : The ITAT Kolkata held that reassessment completed without issuing the mandatory notice under Section 143(2) was a nullity in law. ...

June 20, 2026 30 Views 0 comment Print


Latest Notifications


MCA Extends DPT-3 Late Fee Waiver Till 31st July 2026 Due to Data Center Fire

Company Law : MCA has allowed companies to file Form DPT-3 for FY 2025-26 without additional fees until 31 July 2026 due to disruptions caused b...

June 20, 2026 1863 Views 0 comment Print

IFSCA Amends SNRR Account Rules to Prescribe 30-Working-Day Remittance Requirement

Finance : IFSCA has amended its circular to require financial institutions to remit eligible funds received in SNRR accounts to their IBU ac...

June 20, 2026 54 Views 0 comment Print

IFSCA Mandates IFSC Banking Unit or SNRR Accounts for All Payments

Finance : IFSCA has amended its AML exemption circular to require all financial institutions, including exempt entities, to route business-r...

June 20, 2026 57 Views 0 comment Print

SEBI Approves Major Regulatory Reforms to Simplify Securities Market Processes

SEBI : SEBI approved wide-ranging reforms covering transmission of securities, buy-backs, mutual funds, AIFs, municipal bonds, and securi...

June 20, 2026 117 Views 0 comment Print

SEBI Clarifies Early Pay-In Margin Rules for Commodity Derivatives

SEBI : SEBI has clarified the applicability of the early pay-in facility in the commodity derivatives segment by revising its Master Circ...

June 20, 2026 84 Views 0 comment Print


FAQs


The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiring personal interaction. The FAQs also cover notices, responses, rectification requests, and outstanding demand procedures.

The Income Tax Department has issued detailed FAQs explaining the meaning, computation, and tax treatment of agricultural income under Section 2(1A) and the Income-tax Rules. The guidance also clarifies exemptions, partial integration, and capital gains on agricultural land.

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 explains how CPC processes returns under Section 143(1) by correcting apparent errors and incorrect claims without conducting a scrutiny assessment. Taxpayers receive an opportunity to respond before adjustments are finalized.

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