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 the limit of holding gold under the Income Tax Act. Learn about the implications of owning jewellery beyond the prescribed limit.
Hello readers, Today I will discuss key changes in ITR Forms for A.Y 2021-22 in simplified form- ♦ Regarding changes in ITR-1- ITR-1 cannot be filed in case tax has been deducted u/s 194N Now what is Section 194N-TDS u/s 194N is required to be deducted if amount of cash withdrawn exceeds – Exceeds Rs […]
Understanding the new Section 206AB & Section 206CCA of the Income Tax Act, 1961. Discover the implications and higher rates of TDS and TCS for non-filing and non-furnishing of PAN.
Discover the benefits of Unit Linked Insurance Policy (ULIP) under the Finance Act, 2021. Get the best of both investment and insurance in one plan.
Request for extension of time to file the returns of income U/s. 139(4) of the Income-tax Act 1961 (the Act) – Unsatisfactory working of income tax computer portal and spread of another wave of Corona virus in certain parts of country
Re-validation of existing Tax Exemption Certificate under new Section 12AB of Income Tax Act, 1961 w.e.f. April 1, 2021 The Central Board of Direct Taxes, by Notification No. 19/2021-Income Tax Dated- 26th March, 2021, amended the Income Tax Rules, 1962 called as Income-tax (6th Amendment) Rules, 2021, pertaining to procedure for registration of fund/ trust/charitable […]
Introduction The income-tax department has started to reach out to certain taxpayers who have either not filed income-tax returns (ITR) or failed to accurately report high-value transactions in their returns. Objective of the e-campaign is to facilitate taxpayers to validate their financial transaction information against information available with the IT department and promote voluntary compliance, […]
In this article, the author has sought to produce the meaning and the scheme of taxation of Agricultural income in India. The attempt has also been made to examine the justifications i.e., political and administrative of such an exemption even after 75 years of independence of the nation.
In view of the recent changes, the following data provides summary of newly Inserted Sections in Direct Taxes by Finance Act, 2021. Please provide your valuable insights and queries in the comments section. Insertion of New Sections under Direct Taxes by Finance Act, 2021 Summary of Inserted Sections: Section Number Name of Section Section 89A […]
Understanding Section 139 of the Income-Tax Act, 1961. Learn about the logic behind filing income tax returns and providing accurate income and tax details to the Government.
