CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : The Income-tax Act does not prescribe a single definition of "relative" for all purposes. Different provisions such as Sections 13...
Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Income Tax : This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also c...
Income Tax : The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentialit...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : Madras HC set aside cognizance under the Income-tax Act, holding Section 223(1) BNSS mandates hearing the accused before cognizanc...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : Gujarat HC quashed a Section 148 notice, holding that a seized inquiry register without a live nexus to the assessee cannot justif...
Income Tax : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : Madras HC held that merely issuing a corrigendum acknowledging the return did not rectify the defective assessment process and ord...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cros...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
The ITAT held that foreign exchange gains arising from realization of export proceeds from services rendered to associated enterprises are operating in nature for transfer pricing purposes. It directed verification by the Assessing Officer and corresponding computation of the arm’s length margin.
The article explains that tax responsibilities do not end with a taxpayer’s death. Legal representatives must file pending returns, address assessments, and pay dues from the deceased’s estate.
The provisions detail deductions for investments, insurance, pension contributions, home loans, medical expenses, charitable donations, and business expenditures. The key takeaway is that proper tax planning and compliance can significantly enhance available tax benefits.
Assessing Officer acknowledged an inadvertent error in adding ₹46 lakh to the taxpayer’s income. The High Court remanded the matter for fresh assessment and directed consideration of all evidence, including the builder’s certificate.
Section 154 permits rectification of mistakes apparent from the record in assessment orders, intimations, and TDS/TCS processing statements to ensure accuracy in tax administration. The key takeaway is that only obvious and undisputed errors can be corrected within prescribed time limits, while taxpayers must be given an opportunity of being heard if the rectification increases tax liability or reduces refunds.
The article explains how dealings with shell companies, accommodation-entry providers, and fake invoice operators can trigger income tax and GST proceedings. It highlights key legal provisions, penalties, and compliance measures taxpayers should understand.
The Kerala High Court remanded the matter after finding that the ITAT failed to expressly adjudicate the challenge to the validity of approval under Section 153D. The ruling underscores the need for tribunals to address every material issue raised before them.
The Bombay High Court held that a corporate guarantee cannot be equated with a bank guarantee and upheld a 0.5% guarantee commission rate. The Court rejected the Revenue’s challenge to the 3% rate adopted by the Transfer Pricing Officer.
The Karnataka High Court condoned the delay in filing appeals after noting that the issue relating to contributions under Section 57(2A) of the KCS Act had remained unresolved for over a decade. The Court also directed the CIT (Appeals) to decide the remanded matter within four months.
The Court held that the delay in e-verification of Form 10B during the pandemic was supported by bona fide reasons. It ruled that denying exemption on technical grounds would cause genuine hardship.
