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 : Refunds for AY 2025–26 are being withheld after system-based risk checks detected discrepancies. Taxpayers are advised to review...
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 NUDGE campaign targets fraudulent claims under sections 80G and 80GGC, helping taxpayers voluntarily revise returns and avoid ...
Income Tax : Reassessment proceedings was invalid for a notice issued beyond three years without the sanction of the prescribed higher authorit...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : ITAT held that delay in filing Form 9A cannot automatically result in denial of exemption under Section 11. The issue was sent bac...
Income Tax : The Tribunal ruled that assessment orders in e-proceedings must be digitally signed as per CBDT instructions. A manually signed or...
Income Tax : The issue was whether CBDT jewellery instructions could shield bullion found during a search from taxation. The Tribunal held that...
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 ...
Income Tax : CBDT instructs CIT(A) offices to issue intimation confirming withdrawal of appeals for MAP-resolved grounds, serving as proof for ...
Income Tax : The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpa...
Central Government, in consultation with the Chief Justice of the High Court of Tripura, hereby designates the Court of the Additional Chief Judicial Magistrate, West Tripura as the Special Court for the State of Tripura for the purposes of section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, […]
CBDT issues Corrigendum to Notification No. 56/2021-Income Tax Dated: 7th May, 2021 and stated that word ‘payee ‘to be read as payer. Notification No. 59/2021-Income Tax Dated: 10th May, 2021 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New Delhi, the 10th May, 2021 NOTIFICATION NO. 59/2021 (INCOME-TAX) S.O. 1839(E).—In the […]
CBDT amends Notification No. 35/2021-Income Tax dated the 22nd April, 2021 and stated that the word ‘Canada Pension Plan Investment Board Private Holdings (4) Inc.’ should be read as ‘CPP Investment Board Private Holdings (4) Inc.’ Notification No. 58/2021-Income Tax Dated: 10th May, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) […]
CBDT amends Notification No. 54/2021-Income Tax dated the 5th May, 2021 and stated that the word ‘Stretford Investment Pte. Ltd.’ should be read as ‘Stretford End Investment Pte. Ltd.’ Notification No. 57/2021-Income Tax Dated: 10th May, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM Notification No. 57/2021-Income Tax New Delhi, […]
Section 269ST relaxations announced in Covid 2.0 times especially for payment of medical bills of INR 2 lacs or more; vide Notification No. 56/2021-Income Tax Dated: 7th May, 2021 for a period of 2 months. Penalty on receipt of an amount of Rs. 2 lakh or more in cash Section 269ST (as inserted by the […]
Extended Deadline for Tax Compliance Is a Huge Relief for the Taxpayers, ITR for FY 2019-20 Can Now Be Filed Till 31 May Amid a surge in Covid-19 cases and a nationwide lockdown, the government on Saturday has announced to extend the timelines for various income tax compliance to 31 May, including late return filing […]
Section 9(1)(i) of the Income Tax Act, 1961 was amended vide Finance Act 2018 to bring in the concept of “Significant Economic Presence” (‘SEP’) for establishing a business connection in India of a non-resident. According to the said Section, “significant economic presence” for this purpose shall mean: “transaction in respect of any goods, services or […]
Introduction The income-tax department has started to reach out to certain taxpayers who have either not filed income-tax returns (ITR) or failed to accurately report high-value transactions in their returns. Objective of the e-campaign is to facilitate taxpayers to validate their financial transaction information against information available with the IT department and promote voluntary compliance, […]
Office Order No. 84 of 2021 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Principal Chief Commissioner of Income Tax (Pr. CCIT) (level 17 in the pay matrix Rs. 2,25,000/-) for the panel year 2021 on in-situ basis w.e.f. 01.04.2021 or the date of assumption of the charge of the post by them, whichever is later:
Office Order No. 83 of 2021 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Principal Chief Commissioner of Income Tax (Pr. CCIT) (level 17 in the pay matrix Rs. 2,25,000/-) for the panel year 2021 on in-situ basis with immediate effect or w.e.f. the date of assumption of the charge of the post by them, whichever is later:
