Income Tax : The article explains how income tax funds healthcare, education, infrastructure, defence, and welfare schemes that benefit society...
Income Tax : CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination b...
Income Tax : CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing f...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...
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 : CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance dete...
Income Tax : The Government stated that representations on own merit promotions are examined regularly as per existing rules, with no separate ...
Income Tax : Draft Income-tax Rules and Forms have been released for public feedback before the new law takes effect, with inputs to shape the ...
Income Tax : Following judicial criticism of delayed appeals, officers urged structural reforms to fix institutional gaps rather than penalisin...
Income Tax : ITAT Mumbai held that the Assessing Officer had conducted detailed enquiries on depreciation claimed on concession rights during c...
Income Tax : The ITAT held that a public charitable trust could not be taxed at the Maximum Marginal Rate under Section 167B. It directed taxat...
Income Tax : The Kerala High Court set aside the ITAT and CIT(E) orders after finding that the applicability of CBDT Circular No. 7/2024 had no...
Income Tax : The Tribunal observed that CBDT instructions prohibit the AO from examining issues beyond the specific reason for limited scrutiny...
Income Tax : Bombay High Court held that delay in filing Form No. 10 for claiming accumulation under Section 11(2) should be condoned where gen...
Income Tax : CBDT has instructed tax officers to uniformly apply Sections 68 to 69D and Section 115BBE after a C&AG audit found inconsistencies...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enh...
Income Tax : Explains the CBDT notification granting section 10(46) exemption to a district legal services authority and the categories of inco...
Income Tax : The Central Government notified an urban development authority under section 10(46A) of the Income-tax Act. The exemption applies ...
The article explains how income tax funds healthcare, education, infrastructure, defence, and welfare schemes that benefit society. It emphasizes that paying taxes is both a legal duty and a contribution to nation-building.
CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination but does not automatically result in tax additions.
CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing for small investors.
Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide explains procedures, timelines, appellate remedies, and taxpayer rights after the Finance Act, 2026.
ITAT Mumbai held that the Assessing Officer had conducted detailed enquiries on depreciation claimed on concession rights during complete scrutiny and adopted a permissible view. Since the twin conditions under Section 263 were not satisfied, the revision order was quashed.
This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026-27. It also clarifies revised, belated, and updated return provisions to help ensure accurate compliance.
This comprehensive FAQ guide explains the basics of income tax, including taxable income, previous year, assessment year, tax payment methods, and return filing obligations. It also covers practical compliance requirements and taxpayer responsibilities under the Income-tax Act.
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 ITAT held that a public charitable trust could not be taxed at the Maximum Marginal Rate under Section 167B. It directed taxation at normal rates and held that no tax was payable as the income was below the basic exemption limit.
The Kerala High Court set aside the ITAT and CIT(E) orders after finding that the applicability of CBDT Circular No. 7/2024 had not been properly examined. The Court directed the Commissioner to reconsider the trust’s request for registration from 1 April 2021 after granting an opportunity of hearing.
