Key Takeaways from the OECD Consultation Draft on Intra-Group ServicesThe OECD’s proposed revisions to Chapter VII of the Transfer Pricing Guidelines represent an important development for multinational enterprises, ev...
Legal Position of Unabsorbed
Depreciation under the Income Tax Act, 2025 – A Paradigm Shift in Indian Tax
Law?
IntroductionThe treatment of unabsorbed
depreciation has historically been one of the most taxpayer-f...
CBDT Notifies Mandatory
Scrutiny Cases for FY 2026-27: Key Categories Every Taxpayer and Professional
Should KnowThe Central Board of Direct Taxes
(CBDT), vide Circular No. F.No.225/56/2026/ITA-II, has prescribed the
...
Income-tax (Amendment) Ordinance, 2026: Major Tax Relief
for Foreign Investors in Indian Government SecuritiesIntroductionIn a significant move aimed at enhancing India's
attractiveness as a global investment destinati...
CBDT e-Filing – ITR-2
Validation Rules (AY 2026-27)
(For income earned during FY 2025-26)Version 1.0 | Dated: 26 May
2026ImportantValidation failures are treated as
Category A Errors. If any such error exists, ITR-...
Facts of the CaseThe petitioners, a partnership firm engaged in
jewellery business and one of its partners, challenged the orders passed by the
Chief Commissioner of Income Tax rejecting their application for waiver of...
Framing an Income Tax assessment orderFraming an income-tax assessment order means drafting a legally sustainable speaking order after examining the return, books of account, evidence, replies, and applicable law. Under ...
Unreasonable payment to Related Person [Section 40A(2) of the Income-tax Act, 1961]The section 40A(2) of the Income Tax Act, 1961 provides that, where the assessee incurs any expenditure, in respect of which payment is m...
Rectification of Mistake – Queries and their Answers [Section 154]Section 154 is in itself a complete code governing the filing of rectification petitions with the intent to cure the mistake/error/omission apparent fro...