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...
This article explains how AI tools may provide outdated tax advice under the new law. The key takeaway is that relying on unverified AI responses can lead to penalties.
The issue involved granting recognition to an institution for research purposes. The authority approved eligibility, allowing tax deductions for scientific research activities.
The proposal to remove statutory audits for small companies risks eliminating independent financial scrutiny, potentially weakening transparency and accountability across the corporate ecosystem.
High Court held that consideration received for assignment of self-generated trademarks prior to 2002 amendment could not be taxed as capital gains because no cost of acquisition could be determined.
Filing Form 18 is essential to obtain specified business status for housing projects. Without notification, tax benefits under Section 46 cannot be claimed.
Entities must file Form 17 to obtain approval for research-related tax benefits. Proper filing ensures eligibility and compliance with statutory conditions.
Form 16 certifies total donations made for scientific research and must be issued annually by prescribed institutions. However, deduction is subject to statutory conditions and verification by tax authorities.
Institutions receiving research donations must file Form 15 annually. Non-compliance may impact donor deductions and attract consequences under the law.
Form 14 provides formal approval of in-house R&D facilities by DSIR. However, deduction is allowed only upon fulfilment of statutory conditions and verification by tax authorities.
The document clarifies that furnishing the audit report is only a compliance requirement. Deduction is subject to further scrutiny by the Income-tax Department. This ensures accountability in claiming tax incentives.
