CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : The Income-tax Act does not prescribe a single definition of "relative" for all purposes. Different provisions such as Sections 13...
Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Income Tax : This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also c...
Income Tax : The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for...
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 : Madras HC set aside cognizance under the Income-tax Act, holding Section 223(1) BNSS mandates hearing the accused before cognizanc...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : Gujarat HC quashed a Section 148 notice, holding that a seized inquiry register without a live nexus to the assessee cannot justif...
Income Tax : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : Madras HC held that merely issuing a corrigendum acknowledging the return did not rectify the defective assessment process and ord...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
The update replaces earlier reporting formats with a system-generated statement for unit holders. It ensures accurate classification and reporting of income distributed by business trusts.
Form 76 requires business trusts to report income distributed to unit holders under Section 223. It ensures compliance with pass-through taxation where income is taxed in the hands of investors. The form introduces improved reporting fields for transparency and accuracy.
The dispute revolved around absence of Form 75 for investor reporting. It was held that the form ensures proper income classification and tax treatment. The decision reinforces mandatory compliance.
The case examined whether income could be properly taxed without Form 74. It was held that the form is essential for implementing pass-through taxation. The ruling highlights procedural compliance.
The issue concerned failure to furnish Form 73 within the prescribed timeline. It was held that timely issuance is mandatory for compliance and accurate investor reporting.
Form 72 mandates reporting of income distributed by securitisation trusts to investors. It ensures compliance with pass-through taxation under Section 221.
Explains the mandatory filing of Form 71 for specified funds to claim exemption or concessional tax rates. Highlights audit certification, due dates, and compliance conditions.
The dispute revolved around exemption claims without submitting Form 70. It was held that the form ensures proper disclosure and verification. The decision reinforces mandatory compliance for tax relief.
The FAQs clarify that filing Form 69 within the due date is a mandatory condition to claim concessional taxation under Section 210(2). Failure to file or incorrect submission can lead to denial of tax benefits. The key takeaway is strict compliance is essential for eligibility.
Form 68 is required for claiming exemption on income of specified funds under the new tax law. Filing within due date is mandatory to avail exemption benefits.
