News

The Govt has proposed amendments to the Payment and Settlement Systems Act and the Income-tax Act to simplify digital payment compliance and provide greater flexibility for foreign investment funds.

Govt Proposes Major Amendments to Payment and Settlement Systems Act, 2007, and Income Tax Act, 2025

The Direct Taxes Committee of ICAI has released the eleventh edition of a publication titled "Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 (Revised 2026)." 

ICAI Releases Eleventh Edition of Guidance Note on Tax Audit under Section 44AB of Income Tax Act, 1961 (Revised 2026)

Articles

The CBDT has issued a guidance note explaining crypto-asset reporting obligations for Reporting Crypto-Asset Service Providers (RCASPs) under Section 509 of the Income Tax Act, 2025.

CBDT Issues Guidance Note on Crypto-Asset Reporting Under Income Tax Act, 2025

Judgement

ITAT quashes Rs 9.27 lakh penalty and directs the Assessing Officer to grant immunity to the assessee under Section 270AA of the Income Tax Act.

ITAT Cancels Rs 9.27 Lakh Penalty, Directs Tax Department to Grant Immunity to Assessee

Notifications

The Central Government has granted an income tax exemption to the Kerala Headload Workers Welfare Board for tax years 2026-27 to 2028-29, subject to compliance with the prescribed conditions under the Income Tax Act, 2025.

Kerala Headload Workers Welfare Board Granted Income Tax Exemption for Three Tax Years

The ITAT Chennai held that additions under the Income Tax Act cannot be sustained solely on the basis of entries found in electronic records or books maintained by a third party.

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Govt Proposes Major Amendments to Payment and Settlement Systems Act, 2007, and Income Tax Act, 2025

ICAI Releases Eleventh Edition of Guidance Note on Tax Audit under Section 44AB of Income Tax Act, 1961 (Revised 2026)

CBDT Issues Guidance Note on Crypto-Asset Reporting Under Income Tax Act, 2025

ITAT Cancels Rs 9.27 Lakh Penalty, Directs Tax Department to Grant Immunity to Assessee

Kerala Headload Workers Welfare Board Granted Income Tax Exemption for Three Tax Years

ITAT Holds Entries in Third-Party Electronic Records Cannot by Themselves Establish Undisclosed Income