Income Tax : Understand every reporting requirement under Form 3CD as amended by the Finance Act, 2026. This guide explains clause-wise disclos...
Income Tax : This article explains depreciation provisions under the Income-tax Act and Companies Act, including WDV, SLM, additional depreciat...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : The Income Tax Department has clarified the concessional tax regimes available to companies, individuals, and co-operative societi...
Income Tax : Section 115BAA offers eligible domestic companies a concessional tax structure with a fixed effective rate. The trade-off is the l...
Income Tax : Indian Government's recent data on corporate tax collection for the last five years and the revenue forgone due to the reduction 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 : Representation with regard to application of old tax rates due to filing form 10IC after submitting ITR but before due date filing...
Income Tax : The Calcutta High Court held that the PCIT was not authorised to condone the delay in filing Form 10-IC for AY 2024-25 as the appl...
Income Tax : ITAT Ahmedabad held that the Transactional Net Margin Method (TNMM) remained the most appropriate method as there was no change in...
Income Tax : The Tribunal held that delayed filing of Form 10-IC should not defeat the assessee's substantive right to opt for the concessional...
Income Tax : The Bombay High Court held that a 13-day delay in filing Form 10-IC should be condoned where eligibility for Section 115BAA was un...
Income Tax : ITAT Delhi held that a 22-day delay in filing Form 10-IC could not deprive an eligible company of the concessional tax rate under ...
Income Tax : CBDT grants a filing extension for Form 10-IC related to AY 2021-22. Learn the conditions for this extension and the new deadline ...
Income Tax : CBDT issues Income Tax Circular 06/2022 | Dated: 17th March, 2022 to condone the default in filing Form 10-IC to avail lower tax r...
Income Tax : CBDT notifies forms for exercising option u/s 115BAA and 115BAB – Notification No. 10/2020, dated 12-02-2020 Section 115BAA deal...
ITAT Ahmedabad rules on Aprameya Engineering’s appeal against tax rate denial under Section 115BAA due to delayed Form 10-IC filing. Judicial precedents examined.
ITAT Delhi removes erroneous ₹19,253 double addition made by CPC in HPL Mercantile Pvt. Ltd. case. The amount was already included in taxable income.
Assessee has preferred an appeal before Addl/JCIT(A) who allowed the appeal by observing that the ICDS adjustments were made under the head ICDS-I & ICDS-VI relates to accounting policies and changes in the exchange rates.
Anticipated income tax changes in Budget 2025 include simplified laws, revised slabs, TDS reforms, and equitable taxation for individuals, corporates, and trusts.
ITAT Ahmedabad directs AO to grant Section 115BAA benefits and rectify ITR errors for Zodiac Energy Limited for AY 2021-22.
Learn about Section 115BAA of the Income Tax Act offering reduced corporate tax rates, conditions for eligibility, effective tax rates, and MAT implications.
ITAT Delhi held that benefit of section 115AAB of the Income Tax Act availed in the preceding year cannot be denied in subsequent year on the reason of non-filing of prescribed Form 10IC. Accordingly, appeal allowed.
ITAT allows concessional tax rate under Section 115BAA to Chola Business Services, citing timely filing of Form 10IC and acknowledgment by CPC.
ITAT Kolkata ruled in favor of Narayani Laxmi Viniyog Pvt. Ltd., applying a 22% tax rate under Section 115BAA despite CPC’s 40% tax assessment for AY 2023-24.
Gujarat High Court held that denial of benefit of lower rate of tax u/s. 115BAA of the Income Tax Act on technical ground of mere delay in filing of Form 10-IC unjustified as all the other conditions duly satisfied.
