Taxontips

Taxation and Income tax return of Foreign Companies Earning Income from India under special rates

Income tax Expert — Wed, 14 Jan 2026 05:09:04 +0000

PAN Requirement, Applicability of Tax Rates, DTAA Benefit, Form 10F, Return Filing & SCNRR Account Foreign companies frequently earn income from India in the nature of Fees for Technical Services (FTS), Royalty, Dividend, Interest, etc. These streams are specifically governed by Section 115A of the Income-tax Act, 1961. While Section 115A provides a concessional and […]

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Income Tax Department’s NUDGE Initiative 2025-26: A Clear Warning for Taxpayers to Ensure Accurate Reporting

Income tax Expert — Thu, 25 Dec 2025 04:10:56 +0000

The Income Tax Department of India, through the Central Board of Direct Taxes (CBDT), has rolled out its data-driven NUDGE campaign for Assessment Year 2025-26, aimed at strengthening voluntary compliance and driving accuracy in Income Tax Return (ITR) filings. Under this initiative, taxpayers identified through advanced risk analytics are being communicated via SMS and email […]

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Notice from Income tax department e-verification cell for non-filing ITR. How to respond

Income tax Expert — Thu, 18 Dec 2025 08:07:39 +0000

Understanding the Income-tax Department’s e-Verification Communications: What It Means, Why You Received It, and How to Respond Correctly In last few days, a significant number of taxpayers in India have received emails from the Income Tax Department’s Insight Portal, sent from the official email ID itd_support@insight.gov.in. These emails typically inform taxpayers that either: They […]

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Default under TDS for 20% TDS or short deduction? Here is a relief from non-linking of Aadhar-PAN

Income tax Expert — Tue, 22 Jul 2025 04:36:39 +0000

CBDT’s Circular 9/2025 is a welcome, taxpayer-friendly move, but with riders attached. The relief from higher TDS/TCS is only available if the stipulated timelines for PAN-Aadhaar linkage are met.

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Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?

Income tax Expert — Wed, 02 Jul 2025 04:32:22 +0000

It essentially marks the initiation of detailed scrutiny for your return, which means the department has found some red flags or inconsistencies based on the data available with them.

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Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws

ADMIN — Thu, 05 Jun 2025 04:43:43 +0000

Below mentioned are some important due dates under Income tax, GST, company law etc. for the month of June 2025.

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Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws

ADMIN — Thu, 08 May 2025 05:10:42 +0000

Below mentioned are some important due dates under Income tax, GST, company law etc. for the month of May 2025.

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ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]

Income tax Expert — Fri, 02 May 2025 08:18:25 +0000

capital gains arising from redemption/sale of mutual fund units by a Singapore tax resident are taxable only in Singapore as per Article 13(5)

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Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws

ADMIN — Thu, 10 Apr 2025 06:57:05 +0000

Below mentioned are some important due dates under Income tax, GST, company law etc. for the month of April 2025.

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No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?

Income tax Expert — Tue, 01 Apr 2025 04:57:43 +0000

In AY 2024-25 there has been a lot of confusion with regard to whether 87A rebate would be available for special rate income i.e. capital gain income or not. This confusion came because where assessee was filing Income tax return before 05.07.2024, assessee was allowed to claim rebate under section 87A of the Act […]

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Statutory Audit of Cash and Cash Equivalents in Indian Companies [Company Law]

ADMIN — Mon, 17 Mar 2025 05:12:12 +0000

Cash and cash equivalents (CCE) are among the most critical items in a company’s balance sheet due to their high liquidity and vulnerability to fraud

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Statutory Audit of Trade Receivables in Indian Companies [Company law]

ADMIN — Tue, 04 Mar 2025 05:04:29 +0000

Trade receivables are a critical component of a company’s current assets. They represent the amount owed to the company by customers for goods sold or services rendered on credit.

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Statutory Compliance Calendar for February 2025 | Income tax, GST and various other laws

ADMIN — Fri, 07 Feb 2025 03:58:48 +0000

Statutory Compliance Chart for the Month of February 2025 Below mentioned are some important due dates under Income tax, GST, company law etc. for the month of February 2025. 1. Income Tax Nature Due Date Due date for deposit of Tax deducted/collected for the month of January 2025. 07th February 2025 Due date for issue of TDS Certificate […]

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Budget 2025 updates | Income tax and GST updates

ADMIN — Sat, 01 Feb 2025 06:08:29 +0000

Budget 2025 is being announced on 01.02.2025 by our Hon’ble Finance Minister Nirmala Sitaraman. MSME limit enhanced: Turnover for micro, small and medium enterprises increased from 5, 50 and 250 crores to 10, 100 and 500 crores. Investment limit increased from 1, 10 and 50 crores to 2.5, 25 and 125 crores. Key […]

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Assessee receiving message for 80GGC donation for AY 2022-23 from Income tax department

Income tax Expert — Wed, 29 Jan 2025 04:36:26 +0000

Currently, we need to understand that this is just an intimation to assessee and not an assessment. Hence, this is not a notice which needs to be replied.

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