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...
Understanding Section 194R TDS on Benefits or Perquisites under Income Tax Act 1961. Learn about its objectives, implementation, and impact on tax base.
Explore whether the functioning of NFAC serves its intended purpose. Find out how the assessment orders and litigation are affected.
Taxes are monetary charges imposed by the government on income, goods, services, circumstances, or transactions. Tax is derived from the Latin word ‘taxo’. Taxes, the government’s primary source of money, are used to benefit the citizens of the country through laws, rules, and practises.
The Finance Act, 2022 had inserted a new section 194R to the Income Tax Act, 1961 providing for deduction of tax at source (TDS) @ 10% on the benefit or perquisite paid to a resident businessman or professional arising from its business or profession, and the provision of this section is applicable from 1st July, 2022.
In exercise of the powers conferred by the third proviso to sub-section (2) of section 92C of the Income-tax Act, 1961 (43 of 1961)(hereafter referred to as the said Act), read with proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962, the Central Government hereby notifies that where the variation between the arms length price determined under section 92C of the said Act and the price at which the international transaction or specified domestic transaction has actually been undertaken does not exceed one per cent.
Certain taxpayers have been claiming deduction on account of ‘cess’ under section 40 of the Income Tax Act, 1961 claiming that ‘cess’ has not been specifically mentioned in the provisions of the section 40(a) (ii) of the Income Tax Act, 1961 and therefore, cess ought to be an allowable expenditure. Such assesses placed strong reliance on various judicial judgments such as Sesa Goa Limited versus JCIT (Bombay High Court).
Understanding the new section 194R TDS provision in the Income Tax Act. Learn about the impact on doing business and the requirement for tax deduction.
Meghalaya High Court orders the setting aside of a Section 148 notice due to procedural lapses, emphasizing the necessity of adhering to the mandated seven-day response period.
Understand the provisions of Section 50D of the Income Tax Act, 1961. Learn about the impact on capital gain calculation and the taxation of self-generated assets.
Understand the taxability of NRIs in the light of India-Singapore DTAA. Learn about residential status, taxation laws, and investments in India and Singapore.
