Income Tax : This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences ...
Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...
Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of time limit by condoning delay Issuance of Order under Section ...
Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...
Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...
Income Tax : ITAT held interest from head office and overseas branches is not taxable as payment to self, while interest from overseas banks al...
Income Tax : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
Income Tax : ITAT Jaipur held that a one-day delay in filing Form 10DA could not defeat a Section 80JJAA deduction when the form was on record ...
Income Tax : Transfer pricing principles dictate that a captive, risk-mitigated service provider could not be benchmarked against full-fledged,...
Income Tax : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalment due dates. It also outlines how taxpayers can revise advance tax payments when income estimates change.
This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment of TDS/TCS, and furnishing false statements. It also highlights exceptions and safeguards available in certain situations.
This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine cases. It highlights the conditions, procedures, and limitations governing relief under Sections 273A and 273AA.
This article outlines major penalties under the Income-tax Act for defaults involving tax payments, return filing, TDS compliance, and record maintenance. It highlights the circumstances that attract penalties and the relief available in deserving cases.
The Delhi ITAT held that receipts from sale and restricted use of standard cybersecurity software could not be taxed as Fees for Technical Services. The Tribunal relied on judicial precedents dealing with standardised technology offerings.
The document outlines the circumstances in which taxpayers become liable to pay interest under Sections 234A, 234B, and 234C of the Income-tax Act. It explains the applicable rates, computation methodology, periods of levy, exceptions, and practical illustrations relating to delayed return filing, advance tax defaults, and deferment of advance tax instalments.
The Delhi ITAT ruled that no installation or supervisory PE existed in India as the activities did not exceed the 120-day threshold under the India-Canada DTAA. Consequently, income attribution to the alleged PE was held to be unsustainable.
The issue was whether expenditure could be disallowed under Section 14A read with Rule 8D when the assessee had not earned any exempt income during the relevant year.
The issue was whether SBN deposits accepted by a co-operative society during demonetisation could be added under Section 68 solely because the notes ceased to be legal tender.
The Delhi ITAT held that Fees for Technical Services cannot be taxed under Article 22 of the India-Thailand DTAA merely because the treaty lacks a specific FTS clause. In the absence of a Permanent Establishment in India, such business income was held not taxable.
