SC Clarifies IT Deduction u/s 36(1)(viii) in NCDC Case
Supreme Court rules that only profits directly derived from long-term loans qualify for Section 36(1)(viii) deduction. Dividend, bank interest, service fees excluded.
Category: Income Tax
Foreign Assets/ Income Disclosure in ITR: 2025 CRS/FATCA Rules Guide
Complete guide to reporting foreign assets and income in India under CRS & FATCA. Learn how to file Schedule FA, FSI & TR to avoid penalties. Updated 2025.
Delhi HC Warns Tax Departments on AI Hallucinations in Tax Notices
Delhi HC cautions tax authorities to verify AI-generated citations in GST/IT notices. AI aids tax research but needs human oversight.
DTAA Rate Prevails over 20% TDS Without PAN Payments to Foreign Companies: SC
Supreme Court rules on 25 Nov 2025 that DTAA rates (10–15%) apply over Section 206AA’s 20% TDS even if foreign vendor has no PAN. Big relief for IT companies …
Revised Capital Gains Account Scheme: Digital Payments, Banks List, 54GA Exemption
CBDT has amended the Capital Gains Account Scheme through two notifications 161/2025 and 162/2025. New features include digital payment, expanded authorised bank list, Section 54GA, and key compliance changes.
How to Authenticate a Notice or Order Issued by the Income Tax Department?
Learn how to verify Notices, Orders, Summons, and Letters issued by the Income Tax Department using the official e-Filing portal. Step-by-step methods, prerequisites, and common troubleshooting tips.
Income Tax Notice in India (2025): Types, Reasons & Compliance Guide
Confused about an income tax notice in India? This 2025 guide explains types of notices, common reasons, and compliance steps to respond online.
CBDT Further Extends ITR Filing Deadline for AY 2025-26 to December 10, 2025
CBDT extends ITR filing deadline for audit cases to Dec 10, 2025 and audit report submission to Nov 10, 2025 for AY 2025-26. Check key details and compliance tips.
CBDT Empowers Commissioner (CPC Bengaluru) to Fix Errors & Issue Tax Demands
CBDT empowers CPC Bengaluru Commissioner to fix tax errors and issue demand notices thru Notification 155/2025, improving refund accuracy and easing taxpayer grievances.
CBDT Mandates Formal Withdrawal Intimation from CIT(A) for MAP Cases (2025)
CBDT now requires CIT(A) to issue a formal “intimation of acceptance of withdrawal” for MAP-related appeals. This closes a long-standing procedural gap and enables smooth MAP implementation.