Judgement

Citing Section 115A(5), the ITAT highlighted that the assessee company, with only interest income, was not required to file a separate income tax return unless it had a permanent establishment or POEM.

No ITR Required for Interest Income Under Section 115A(5) Without POEM in India: ITAT

Announcement

All TDS/TCS correction statements for FY 2018–19 to FY 2023–24 must be filed by March 31, 2026, as filings will not be accepted thereafter.

TDS Breaking: Traces releases last date for Filing TDS/TCS Correction Statements up to FY 2023-24, Check Now

Articles

The new forms and rules will be officially announced by the Income Tax Department around the implementation date of April 1, 2026

TDS Under the New Income Tax Act, 2025: Checklist for Preparation

TDS Under New Income Tax Act, 2025: Checklist for Preparation

High Court quashes reassessment notice issued to Sir Jamsetjee Jejeebhoy Charity Fund, ruling that audit objections do not constitute valid information for reopening completed assessments.

Bombay HC: Audit Objection Cannot Justify Reopening of Assessment under Section 148A

ITAT ruled that the AO erred in disallowing Rs. 1.56 crore expense in AY 2016–17 since the related Form 15CA pertained to AY 2015–16 remittance

AO Not Justified in disallowing expense when Form 15CA Relates to prior year: ITAT

ITAT held that expenses incurred to make a residential property habitable like embedded fixtures qualify as cost of improvement under Section 48.

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No ITR Required for Interest Income Under Section 115A(5) Without POEM in India: ITAT

TDS Breaking: Traces releases last date for Filing TDS/TCS Correction Statements up to FY 2023-24, Check Now

TDS Under New Income Tax Act, 2025: Checklist for Preparation

Bombay HC: Audit Objection Cannot Justify Reopening of Assessment under Section 148A

AO Not Justified in disallowing expense when Form 15CA Relates to prior year: ITAT

Costs Incurred to Make House Habitable Qualify as Part of Asset's Cost of Improvement: ITAT