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...
The high pitch assessments without evidence and in flagrant violation of natural justice made by the authorities lead to unnecessary litigation at the level of first appeal and then the usual practice of preferring appeals by the department in ITAT and High Courts also add salt to the injury.
Understand how to determine your residential status for income tax purposes in India. Learn about the criteria and classification of residents and non-residents.
Analysis of Issue of late deposit of ESI and EPF by Assessees us 36(1)(va) of Income Tax Act, 1961 1. Provision of Section 36(1) (va) any sum received by the assessee from any of his employees to which the provisions of sub-clause (x) of clause (24) of section 2 apply, if such sum is credited […]
Explore important judicial precedents on income tax aspects in India. Learn about the case of Ashwani Kumar v. Income-tax Officer and its impact on Section 222 of the Income Tax Act, 1961.
Writ petition & Appeal to be filed with High Court and Supreme Court and circumstances thereof Article 32 and Article 226 of the Constitution provide two separate but parallel provisions of writ jurisdiction with the Supreme Court and High Courts respectively. Article 32 has been incorporated as a fundamental right and it provides for the […]
Understand the TDS/TCS exemption on the transfer of capital assets/goods from Air India. Learn about the specific income tax notifications under the Income Tax Act, 1961.
Central Government hereby specifies that no TDS shall be deducted under section 194-IA of Income Tax Act on any payment made to the Air India Limited for transfer of immovable property to Air India Assets Holding Limited under a plan approved by the Central Government. Notification No. 106/2021-Income Tax | Dated: 10th September, 2021 MINISTRY […]
If assessee opts for presumptive taxation it cannot claim any deduction of any expenditure including Depreciation. Since no deduction is allowed the AO is not permitted to add back the income as unexplained expenditure.
In continuation of the previous article where the eligibility of Startup was discussed, in this article we shall discuss the Taxation & other benefits available to start-ups. Under the taxation benefits, following benefits shall be available to start-ups: I. Deduction Under Section 80-IAC of The Income Tax Act, 1961 (‘Act) II. Angel tax Incentive III. […]
Due to COVID-19, the world is tremulous, which was not witnessed by the present generation. More than 4 million people have lasted their breath globally in the last 18 months on account of this disease. India accounts for about 10% of this death count.
