Income Tax : The article argues that the ITAT's interpretation of Sections 2(19AA) and 2(41A) overlooked the anti-surplusage canon, creating su...
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 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 FAQs clarify Section 536 transition rules for summons, searches, recovery, penalties, pending 12AB/80G approvals and LDC/NDC ...
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...
The Finance Act 2021 has introduced a new section called Section 206AB of the Income Tax Act 1961, which mandates the person paying the amount to deduct TDS in case of non-filing of an income tax return by the specified person. In this article, the following things are covered provisions of section 206AB exemption available […]
Learn about the Presumptive Taxation Scheme (Section 44AD/44ADA/44AE/44B/44BB/44BBB/44BBA) and how it provides relief for small taxpayers.
To protect the interest of revenue, during the pendency of any proceeding for the assessment or reassessment, the Assessing Officer is empowered to make a provisional attachment of any property of the assessee (even though there is no demand outstanding against the assessee). In order to invoke this provision, the Assessing Officer should be of […]
Income from the following house properties are exempted from tax: 1. Any one palace or part thereof of an ex-ruler, provided the same is not let out [Sec. 10(19A)]. Tax-point: If the ex-ruler has a house property and the part of which is self-occupied and remaining let out then only the self occupied part of […]
The litigation in taxation matters is increasing on a rapid scale. However, where the transactions involves the foreign companies or their subsidiaries it is governed under the head of transfer pricing. The increasing participation of multi-national group in economic activities in the country has given rise to new and complex issues emerging from transactions entered in to between two or more enterprises belonging to the same multi- national group.
Understand the tax implications in case of a deceased assessee. Learn about the computation of income, taxation of inherited assets, and deductions for the entire year.
♦ Introduction The Finance Act 2021 has amended the provisions related to slump sale. It has amended the scope of the definition of the term slump sale by amending the provision of clause (42)(C) of section 2 of the Act so that all types of transfer as defined in clause (47) of section 2 of […]
The Finance Act, 2009 introduced with effect from 01.10.2009 an alternate dispute resolution mechanism to facilitate expeditious resolution of disputes in tax related matters for foreign companies and for transfer pricing matters.
The Income Tax Department’s E-Filing Web Portal Will Not Be Working from June 1 to 6, Finish Your Tax-Related Work in Advance The Income Tax Department is preparing to launch a new e-filing web portal for taxpayers in June second week. Therefore, the existing income tax department’s e-filling web portal will be closed from June […]
No more income tax return filing for senior citizens aged 75 or more. Find out how the Finance Act, 2021 provides relief and reduces compliance burden.
