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...
Form 12 provides certified details of R&D expenditure, enabling authorities to verify deduction claims under section 45(2).
Form 11 must be filed by companies seeking approval of in-house R&D facilities under Section 45(2). While it establishes eligibility, actual deduction depends on compliance with statutory conditions and verification.
Form 10 requires prescribed authorities to report approved research programmes to tax authorities. It ensures monitoring and verification of deductions claimed under the law.
Form 9 is a key document evidencing payments to approved research programmes. It supports deduction claims but does not guarantee eligibility.
The prescribed authority cannot extend programme duration or increase cost after approval. This ensures certainty and discipline in implementation. Sponsors must adhere strictly to approved parameters.
Form 7, prescribed under Rule 30 of the Income-tax Rules, 2026, is a mandatory application for sponsors seeking prior approval of a scientific research programme under section 45(3)(c) of the Income-tax Act, 2025.
Form 6 must be filed to claim deductions under Sections 44 and 51, as it provides audit-certified verification of expenditure. Non-filing can lead to disallowance and compliance risks.
The framework requires taxpayers to file Form 5 to claim deduction for preliminary expenses. Failure to file or incorrect reporting may lead to disallowance and compliance risks.
Form 4 is mandatory for reporting income from assets located in India under the new tax law. It ensures accurate computation and aids tax authorities in verification.
The form requires detailed reporting of investments across multiple tax years. This ensures proper tracking of fund deployment. It strengthens regulatory oversight and reduces misuse risks.
