Income Tax : Distribution of assets on total or partial partition of an HUF is not regarded as a transfer under the Income-tax Act. The key tak...
Income Tax : The new Income Tax Act largely retains existing TDS rules on property transactions but significantly simplifies compliance for buy...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for June 2026. It highlights filing requirements under income ta...
Income Tax : The guide explains deferred tax assets and liabilities, timing versus permanent differences, MAT implications, measurement rules, ...
Income Tax : The guide provides detailed rules for VDA transfers executed through exchanges, brokers, and payment gateways. It identifies who i...
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 : The High Court revisited reassessment disputes after the Supreme Court took note of the retrospective insertion of Section 147A. T...
Income Tax : The Court emphasized that procedural defaults should not override substantive tax benefits where genuine hardship exists. It direc...
Income Tax : The Court held that the Tribunal was justified in rectifying its earlier order because the amendment to Section 80P(2)(a)(iii) ope...
Income Tax : The Delhi High Court upheld deletion of additions after authorities under the Black Money Act concluded that the assessee was not ...
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 : 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...
Income Tax : The CBDT introduced Form ITR-U to allow taxpayers to update previously filed returns. The amendment promotes voluntary compliance ...
Income Tax : The CBDT has substituted the ITR-V form to strengthen verification of electronically filed returns. The amendment enhances accurac...
Distribution of assets on total or partial partition of an HUF is not regarded as a transfer under the Income-tax Act. The key takeaway is that neither capital gains tax nor gift tax generally arises on such partition.
The new Income Tax Act largely retains existing TDS rules on property transactions but significantly simplifies compliance for buyers, especially in transactions involving non-residents.
This update compiles key statutory deadlines across multiple laws for June 2026. It highlights filing requirements under income tax, GST, FEMA, and company law. The takeaway is a complete roadmap for timely compliance.
The guide explains deferred tax assets and liabilities, timing versus permanent differences, MAT implications, measurement rules, and how tax-accounting mismatches affect future tax obligations.
The High Court revisited reassessment disputes after the Supreme Court took note of the retrospective insertion of Section 147A. The matters were remanded for fresh consideration with liberty to challenge the amended provision.
The Court emphasized that procedural defaults should not override substantive tax benefits where genuine hardship exists. It directed tax authorities to consider delayed returns and proceed with assessments in accordance with law.
The Court held that the Tribunal was justified in rectifying its earlier order because the amendment to Section 80P(2)(a)(iii) operated retrospectively from 01.04.1968. The appeals were dismissed and the issue was decided against the assessee.
The Delhi High Court upheld deletion of additions after authorities under the Black Money Act concluded that the assessee was not the beneficial owner of the foreign assets. The Court held that a protective assessment could not survive on those facts.
The Bombay High Court held that a 13-day delay in filing Form 10-IC should be condoned where eligibility for Section 115BAA was undisputed. The Court ruled that procedural requirements cannot override substantive statutory benefits.
The Madras High Court held that reimbursements made to a foreign subsidiary for online advertising expenses were not included within the statutory scope of equalisation levy. The refund rejection order was set aside for reconsideration.
