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...
INSTRUCTION NO. 8/2010 [F.NO. 275/73/2009-IT(B)] DATED 8-12-2010 In the present system of processing of e-TDS returns, the returns are processed online and mismatch report showing defaults on various accounts is generated. Based on this mismatch report, the assessing officers issue show-cause notices to the deductors and take follow up actions. 2. It has come to the notice of the […]
The Finance Ministry has begun its maiden investigation into over 100 offshore “financial structuring deals” undertaken by Indian business entities in foreign tax havens to allegedly evade the taxman’s net.
Following is the text of the clarification, issued by the Union Home Secretary, Shri G.K.Pillai here today on the issue of interception of the telephones of Ms Niira Radia.
INSTRUCTION NO. 9/2010 Reference may be made to Board’s Instruction No. 7, dated 16-8-2010 in which it has been stated, inter alia, that in cases where the return is filed in ITR-1 and ITR-2 for the A.Y. 2009-10, and where the TDS claim does not exceed Rs. three lakh and where the refund computed does not exceed Rs. Twenty five thousand, the TDS claim of the taxpayer shall be accepted at the time of processing of the returns provided the TDS payment reported in AS-26 is more than Rs. zero.
The Finance Ministry has raised the tax exemption ceiling on the allowance paid to Operational level employees of transport systems including railways and domestic airlines for meeting their personal expenses during the duty performed in running the transport system from one place to another in India.
Taxpayers will now have to procure a ‘new number’ for filing returns and making any communication with the Income Tax department. The unique Document identification number (DIN), on the lines of numbers like PAN and TAN, will be quoted on “every” inc
India’s income tax department will look into tax issues in a loans bribery case, a finance ministry official said on Thursday. The IT (income tax) department will certainly look into any tax angle involved in the matter, the Central Board of
Notification No. 85/2010-Income Tax Exemption Limit in respect of employee working in any transport system:- From 01.09.2008- Any Allowance granted to an employee working in any transport system for meeting his personal expenditure during his duty performed in the course of running of such transport from one place to another place, provided that such employee is not in receipt of daily allowance – up to 70% of allowance, maximum of Rs. 10,000 p.m.
With some top officials being accused of indulging in corruption, FM Pranab Mukherjee has selected two officers of the revenue services with a `no nonsense’ approach to head the two revenue boards that control the country’s top revenue agencies.
More trouble seems to be in store for telecom minister A Raja, with the income-tax department resuming a probe on whether his ministry was involved in any irregularity while allocating the 2G spectrum to new players. According to an official of the
