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...
Courts hold that one-time alimony is a capital receipt arising from extinguishment of rights and not taxable. The ruling clarifies limits on taxing matrimonial settlements.
The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentiality provisions under the Income Tax Act.
The notification grants scientific research approval enabling donors to claim tax deductions under Section 35. It mandates strict compliance with reporting and certification requirements.
The new tax law formally embeds faceless assessments into the statute, replacing the earlier scheme-based system and making electronic tax scrutiny the default process.
Gujarat High Court quashed reassessment proceedings after finding that deduction claim under section 35(2AB) had already been examined during original scrutiny assessment. Reopening based on same material was held to be a change of opinion and therefore invalid.
The corrigendum addresses an incorrect naming in the previous notification. It substitutes the correct title without changing the substance of the rules.
ITAT Mumbai held that reassessment initiated without approval from the correct authority under Section 151 is invalid. Since the reassessment itself was void, the revision order under Section 263 could not survive.
The court declined to interfere with notices issued under Sections 148A(b), 148A(d), and 148 because the petition was filed after more than one and a half years. It held that the assessee should appear before the Assessing Officer and present its submissions.
The new Income-tax Act, 2025 replaces the 1961 law and introduces structural changes such as a single “Tax Year.” Key updates include revised return deadlines, higher STT, and new rules for buybacks and deductions.
Educational institutions with annual receipts below Rs. 5 crore can claim exemption under Section 10(23C)(iiiad) without prior approval. The provision allows direct exemption if the institution exists solely for educational purposes.
