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 issue concerns issuance of TCS certificates by collectors. The law mandates issuing Form 133 after tax collection. The key takeaway is compulsory compliance for valid tax credit.
Form 132 replaces Forms 16B, 16C, 16D, and 16E to simplify TDS certification under the new law. It ensures standardized reporting and valid proof of tax deduction.
Form 131 must be issued for all non-salary TDS deductions and acts as proof of tax deposited. It enables taxpayers to claim credit while filing returns and ensures compliance with updated law.
Major updates across income tax, GST, customs, and SEBI highlight compliance changes and key judicial rulings affecting taxpayers and businesses.
The provision mandates filing of Form 101 only when directed by the Assessing Officer. The rule ensures independent and accurate valuation of inventory through a Cost Accountant, impacting taxable income.
Form 130 is essential for claiming TDS credit on salary, pension, and interest income. The ruling mandates issuance through TRACES for validity. This ensures transparency and proper tax credit reporting.
Form 129 allows payers to apply for determination of the taxable portion of payments to non-residents. It ensures TDS is deducted only on the amount actually chargeable to tax, preventing excess deduction.
Form 128 allows taxpayers to apply for reduced or nil tax deduction or collection under the Income-tax Act, 2025. It helps avoid excess tax deduction and improves cash flow management.
The issue concerns exemption from TCS on purchase of specified goods. The rule allows exemption where goods are used for manufacturing and not trading. The key takeaway is proper declaration enables tax relief.
Form 126 replaces Forms 15C and 15D to streamline applications for nil TDS certificates. It applies to eligible non-resident entities operating through branches in India and ensures tax deduction aligns with actual liability.
