Income Tax : The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity,...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : The framework permits taxpayers to settle offences by paying prescribed compounding charges instead of facing prosecution. It clar...
Income Tax : CBDT amended Income-tax Rules to include crypto-assets and digital financial products in CRS reporting. The move expands disclosur...
Income Tax : The Draft Income-tax Rules, 2026 require salaried taxpayers to disclose their relationship with landlords, enabling enhanced scrut...
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 : 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 : Court found that the appellant failed to clearly identify which exceptional clause applied. Since the tax effect was below Rs.2 cr...
Income Tax : The issue was whether jewellery found during search can be taxed despite CBDT limits. ITAT held that jewellery within prescribed l...
Income Tax : The case examined whether scrutiny selection without meeting CBDT conditions was valid. The ITAT held that failure to satisfy mand...
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 ...
ITAT Mumbai held that the ESOP expenses claimed by the assessee is an allowable expenditure under section 37(1) of the Income Tax Act.
Understand the time limit for income tax return verification after uploading. Learn the implications of late verification and the prescribed ITR-V submission process.
Delhi High Court dismisses writ petition challenging the quashing of a charge memo against a Commissioner of Income Tax, citing a 10-year delay and prejudice to the officer.
In a landmark decision, ITAT Ahmedabad rules in favor of Globe Textiles (India) P. Ltd., stating no TDS deduction necessary on commission income earned by foreign agents outside India.
ITAT Ahmedabad ruled against C K Zipper Pvt Ltd, disallowing deduction under Section 35(1)(ii) of Income Tax Act for donations to ineligible research trust.
Explore the Central Board of Direct Taxes order under section 138(1)(a) of the Income-tax Act, 1961, regarding information sharing with the Government of Uttar Pradesh. Learn about the mechanisms, frequency, and confidentiality protocols involved.
In the case of Kalika Parameswari Co-op Society vs. ITO, ITAT Bangalore allows deduction under Section 80P(2)(a)(i) for interest income from cooperative bank investments.
Introduction: On March 15, 2024, a significant milestone was achieved in the formalization journey of Micro, Small, and Medium Enterprises (MSMEs) in India. The total number of registered enterprises on the Udyam and Udyam Assist Platform (UAP) crossed 4 crore, marking a momentous achievement for the Ministry of Micro, Small and Medium Enterprises. Detailed Analysis: […]
Discover the latest Circular from the Ministry of Finance, India, outlining measures to reduce tax litigation by specifying conditions for filing appeals before Tax Appellate Tribunals and Courts.
Get details on Circular No. 04/2024 by CBTD. Ex-post facto extension for Form No. 26QE due date till 30.05.2023. Waiver of fees and interest. Learn more.
