Income Tax : The Income Tax Act, 2025 replaces old reassessment provisions with Sections 279 to 286 and increases reopening timelines in certai...
Finance : The amended Finance Bill 2026 abolishes the Tax Recovery Officer’s power to arrest and detain taxpayers for recovery of dues. Th...
Income Tax : The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ru...
Income Tax : The article explains how Section 115BAE offers newly established co-operative societies a concessional 15% tax rate for manufactur...
Income Tax : The Income-tax Act, 2025 replaces old Sections 68 to 69D with a simplified sequential structure under Sections 102 to 106. The cha...
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 : ITAT Delhi held that the assessee was covered under the search proceedings even though its name did not specifically appear in the...
Income Tax : Bangalore ITAT ruled that only solar days and not cumulative man-days should be considered while determining the existence of a Pe...
Income Tax : SC examined nature of amounts received from an AOP and upheld findings that receipts constituted profit share rather than revenue ...
Income Tax : The Rajasthan High Court held that the benefit of Section 115BAA could not be denied when Form 10-IC was filed within the period p...
Income Tax : The Court held that the petitioner had no connection with the entities or individuals from whose devices the disputed material was...
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...
Income Tax : The CBDT introduced Form ITR-U to allow taxpayers to update previously filed returns. The amendment promotes voluntary compliance ...
Income Tax : The CBDT has substituted the ITR-V form to strengthen verification of electronically filed returns. The amendment enhances accurac...
The case addressed whether a demand based on a draft order can be enforced. The Court held that tax liability crystallizes only after final assessment. Key takeaway: draft orders have no enforceable value.
The notification grants exemption under Section 10(46) as the entity operates without commercial intent. It clarifies that only specified income like grants and refundable interest qualifies. The ruling ensures tax relief while mandating strict compliance conditions.
Detailed explanation of meaning of income under section 2(24), including receipts, gains, benefits, subsidies, and other taxable items.
Residential status under the Income-tax Act determines taxability based on stay, control, or management. The key takeaway is that classification as ROR, RNOR, or NR directly impacts the scope of income taxable in India.
The issue involved limitation for initiating proceedings where no statutory time limit exists. The Court upheld that actions must still be within a reasonable period. The takeaway is that absence of explicit limitation does not permit indefinite action.
Form 190 is filed by mutual funds to seek approval for investing in eligible public issues under Schedule XV, enabling tax deduction benefits for investors.
Form 189 is filed by companies to seek approval for issue of eligible capital under Income-tax Act 2025, with filing required three months before issue.
Form 188 standardises approval process for gratuity and superannuation funds under Schedule XI. Filed by trustees with documents, it determines eligibility for tax benefits.
Form 187 allows appeal against refusal or withdrawal of recognition of provident, gratuity, or superannuation funds within 60 days of order.
Form 186 application process, eligibility, documents, filing rules, and recognition of provident funds under Income-tax provisions explained briefly.
