Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : The article explains the advance tax framework applicable from Tax Year 2026-27. Taxpayers with net tax liability of Rs. 10,000 or...
Income Tax : This blog explains the concept of TDS and Advance Tax in a simple and practical manner along with relevant provisions under the In...
Income Tax : The framework clarifies that advance tax becomes mandatory when estimated liability exceeds ₹10,000, with specific exemptions fo...
Income Tax : This explains when and why a demand notice for advance tax is issued based on estimated income. It highlights the obligation to pa...
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 : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : As of September 17, 2024, direct and advance tax collections show significant growth compared to the previous fiscal year....
Income Tax : Income Tax Department has identified certain inconsistencies in the Statement of Financial Transactions (SFT-17) data related to s...
Income Tax : The Income Tax Department, under the Ministry of Finance, is set to initiate an e-campaign aimed at enhancing taxpayer compliance ...
Income Tax : ITAT Hyderabad held that dismissal of an appeal under section 249(4)(b) was unjustified where the assessee claimed that the receip...
Income Tax : ITAT held that section 249(4) cannot be invoked where no taxable income arises in India. Appeals must be decided on merits rather ...
Income Tax : ITAT held that the appellate authority wrongly dismissed the appeal under Section 249(4)(b) as there was no advance tax liability ...
Income Tax : ITAT Indore held that Section 249(4)(b) does not apply in reassessment proceedings where no advance tax obligation arises. The dis...
Income Tax : ITAT Raipur held that Section 249(4)(b) applies only where advance tax was legally payable. In absence of taxable income and advan...
Income Tax : Extension of date of Direct Tax payment in respect of third installment of advance tax for FY 2019-20 Considering the large-scale ...
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 receipts. Advance tax collections also recorded double-digit growth, reflecting strong revenue performance.
The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should undertake before paying advance tax.
ITAT Hyderabad held that dismissal of an appeal under section 249(4)(b) was unjustified where the assessee claimed that the receipts were exempt retirement benefits and no advance tax liability arose. The matter was remanded to the AO to verify the nature and taxability of the amounts reflected in Form 16.
The article explains the advance tax framework applicable from Tax Year 2026-27. Taxpayers with net tax liability of Rs. 10,000 or more must generally pay tax in instalments during the year.
This blog explains the concept of TDS and Advance Tax in a simple and practical manner along with relevant provisions under the Income Tax Act, 1961.
ITAT held that section 249(4) cannot be invoked where no taxable income arises in India. Appeals must be decided on merits rather than dismissed on technical grounds.
The framework clarifies that advance tax becomes mandatory when estimated liability exceeds ₹10,000, with specific exemptions for certain taxpayers. It outlines computation, payment schedules, and consequences of non-compliance, emphasizing structured tax payment during the financial year.
This explains when and why a demand notice for advance tax is issued based on estimated income. It highlights the obligation to pay instalments and the consequences of non-compliance.
ITAT held that the appellate authority wrongly dismissed the appeal under Section 249(4)(b) as there was no advance tax liability under Section 209. The matter was remanded for fresh adjudication on merits.
The 2025 law mandates advance tax on estimated income in four instalments, with limited exemptions for senior citizens and small liabilities. Missing deadlines may trigger interest under Sections 424 and 425.
