[ Video ] How to File Form 146 Income Tax on Income Tax Portal ! CA Certificate for NRI Payment Here is the detailed video on How to File Form 146 Income Tax on Income Tax Portal ! CA Certificate for NRI Payment . Form No 146 Income Tax Rules 2026 Certificate of an accountant… Read More »
Section Code for TDS return of NRI Form 144 Income Tax Rules 2026 Section Code for TDS return of NRI (Non Resident Indian) as per Form 144 of Income Tax Rules 2026 Section Nature of Payment Payee Payer Section code 392(7) Any payment of accumulated balance due to an employee Any non-resident Trustees of the… Read More »
TDS on Food Catering Services Complete Guide Income Tax Act 2025 TDS on Food Catering Services Complete Guide Income Tax Act 2025 Under the Income-tax Act, 2025, food catering services fall strictly under the rules for “payments to contractors.” Here is the complete analysis of TDS on catering services: 1. Legal Definition of Catering Under… Read More »
Important Income Tax Case Laws 15.04.2026 Relevant Act Section / Authority Case Law Title Citation Brief Summary Income-tax Act, 1961 Sec 2(24) / 56 Shashi Vasant Shastri v. ACIT Click Here Advance for Property: Unforfeited advance received under an unregistered agreement cannot be taxed as income without evidence of crystallization or forfeiture. Income-tax Act, 1961… Read More »
Reassessment Notices Issued After the TOLA-Extended Limitation Window Are Legally Void. The Dispute: The Race Against the Limitation Clock The Conflict: The Revenue attempted to reopen an assessment for AY 2013-14. Following the Supreme Court’s mandate in Ashish Agarwal, the Department was given a second chance to follow the new procedure (Section 148A) for old… Read More »
Shifting Explanations for Large Cash Gifts Fail the Genuineness Test Under Section 68. The Dispute: The Shifting Story of the ₹1.83 Crore Gift The Conflict: The assessee’s cash book showed a massive negative balance of ₹1.82 crores (meaning she spent more cash than she officially had). The Initial Explanation: During the assessment, she claimed the… Read More »
Allotment Letters Backed by Bank Payments Protect Buyers from Tax on Post-Booking SDV Hikes. 1. The “Date of Agreement” vs. “Date of Registration” The Conflict: The assessee booked a flat in May 2013 for ₹1.03 crores (via an allotment letter). By the time the sale deed was registered in F.Y. 2017-18, the Stamp Duty Value… Read More »
AO Cannot Disallow Interest Under Section 36(1)(iii) Once TPO Accepts the Rate as Arm’s Length. The Dispute: The 15% vs. 5% Conflict The Scenario: Borrowing: The Assessee (a Reliance Power subsidiary) borrowed funds from its Indian parent company at an interest rate of 15% (in INR). Lending: The Assessee then lent these funds to its… Read More »
Supreme Court Confirms Section 14A and MAT Are Inapplicable to the Insurance Sector. I. Insurance Sector & Section 14A Disallowance The Ruling: The Court confirmed that Section 14A (expenditure related to tax-free income) cannot be applied to insurance companies. The Logic: Insurance companies are governed by a specific code under Section 44 and the First… Read More »
Subsidies Linked to Capital Investment for Backward Areas are Non-Taxable Capital Receipts. The Dispute: Purpose vs. Form The Conflict: The assessee established a yarn manufacturing unit in a backward area under the State Industrial Incentive Scheme, 1996. They were allowed to collect and retain sales tax from customers as a subsidy, capped at 300% of… Read More »