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...
Dealer incentives like tour packages are taxable as business income under the new law. If TDS is borne by the payer, it must be added as additional income through grossing up.
The new law defines strict conditions for reopening assessments using specified information categories. It ensures transparency and limits arbitrary reassessment powers.
The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity, reduces errors, and improves reporting efficiency.
Court held that penalty under Section 270A cannot apply where assessed income does not exceed processed income. Key takeaway: statutory conditions must be strictly met.
The new tax law addresses long-standing concerns over complexity by reducing provisions and simplifying language. It introduces structural clarity and digital tools to improve compliance while reducing taxpayer burden.
The issue concerned overlap of deductions under Sections 80-IA and 80HHC. The Court held that 80HHC profits cannot be reduced by 80-IA deduction, ensuring independent computation.
The issue was whether addition based on estimated yield was valid. The SC upheld that without material evidence, such additions are unsustainable and cannot be based on suspicion.
The issue was whether addition based on assumed production yield is valid. The Court held that without supporting evidence, such additions are unsustainable and cannot justify rejection of books.
The case highlights how the new framework enforces stricter compliance using data analytics. It underscores that incorrect declarations can trigger penalties and scrutiny
The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and removing redundancies without changing core policies.
