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...
On August 5, 2024, it was clarified in the Lok Sabha that there are no specific tax incentives or waivers currently in place for the fintech sector in India. The government’s policy focuses on phasing out existing exemptions and simplifying the tax structure. While there are no special incentives for fintech companies, corporate tax rates […]
Missed the ITR filing deadline? Learn the penalties, interest charges, and restrictions. Understand the consequences and how to file belated or updated returns.
Learn about the tax implications on haircuts taken by banks and creditors for companies resolved under the Insolvency and Bankruptcy Code, 2016, as clarified by the MCA.
CBDT issues guidelines for IT verification under Section 144B(5), detailing circumstances for digital and physical checks, effective immediately.
Bombay HC dismisses Revenue’s appeal in PCIT Vs Timblo Private Limited, stating additions based on seized diary without corroborative evidence are unsustainable.
ITAT Mumbai held that since the shares were acquired on or after 01.10.2004, the assessee would be entitled to claim exemption of LTCG u/s 10(38) of the Income Tax Act even if the Securities Transaction Tax (STT) was not paid at the time of acquisition.
Delhi High Court held that affiliation with and recognition by a regulatory authority are not essential attributes of education under Section 2(15) of the Income Tax Act. NIIT Foundation engaged in conducting systematic and formal instruction, schooling or training qualifies u/s. 2(15).
Delhi High Court held that once the Tribunal had accorded relief and allowed a deduction, the same was liable to be necessarily made by the AO. Accordingly, order denying relief pursuant to Tribunal decision is liable to be quashed.
ITAT Delhi held that long term capital gain on sale of shares in case of the assessee company, being resident of Mauritius, is not liable to be taxed in India.
ITAT Chennai held that section 23 of the Central Act provides for exemption of Income-tax to the Advocates Welfare Fund of the State. Accordingly, exemption granted and appeal of revenue dismissed.
