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...
The Bombay High Court directed revival of the assessee’s appeal after the Supreme Court remanded Section 151A reassessment matters for fresh consideration. The Court allowed the assessee to raise all legal and factual grounds, including limitation, before the Commissioner (Appeals).
The Gujarat High Court held that reopening under Sections 147 and 148 could not be sustained where allowing higher depreciation would not result in any escapement of income chargeable to tax. It ruled that the reassessment was based on a mere change of opinion and quashed the proceedings.
The Bombay High Court held that interest under Section 234D applies to excess income tax refunds issued before June 1, 2003, by following its earlier binding decision. The ITAT order was set aside and the Revenue’s appeal was allowed.
The Income-tax Act, 2025 restructures India’s direct tax framework by reducing sections, introducing new tax slabs, and consolidating TDS provisions. The reforms simplify compliance while largely retaining existing tax deduction thresholds and rates.
Old Regime vs New Regime for Salaried Employees in FY 2026-27: A CA’s Optimisation Checklist The article explains that no changes were made to the income tax slab rates in the Union Budget 2026, and the tax structure introduced in Budget 2025 continues for FY 2026-27 (AY 2027-28) under both the old and new tax regimes. It […]
The Calcutta High Court held that a sanction order must reflect consideration of the taxpayer’s explanation and provide reasons for rejecting it. As these requirements were absent, the sanction order was quashed and remanded for reconsideration.
This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exemption under Schedule VII. It highlights that the issue remains unsettled due to differing interpretations of Section 332.
This article examines conflicting judicial views on whether capital gains exemption is available when a new residential house is purchased in the name of a spouse or family member. It explains that while several High Courts have adopted a liberal approach, the issue remains unsettled due to the absence of a Supreme Court ruling.
This guide explains how Section 43B(h) defers tax deductions where payments to Micro and Small Enterprises remain unpaid beyond the MSMED Act timelines at the financial year-end. It also clarifies that the provision is a timing rule, not a permanent disallowance.
The Gujarat High Court held that the reassessment notice issued under the new regime was time-barred as it was issued after the surviving limitation period prescribed under TOLA and interpreted by the Supreme Court. The notice, order under Section 148A(d), and consequential proceedings were quashed.
