Income Tax - Page 5

SRK gets deduction of Rs. 10 Crore of professional fees returned back

Shah Rukh Khan vs. ACIT (ITAT Mumbai)

ground raised by appellant was in respect of disallowing of an amount of Rs. 10,00,00,000/- being professional fees returned to Star India P. Ltd. The said amount had been incurred by the appellant for the purposes of his profession and on grounds of commercial expediency. ...

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Sukanya Samriddhi Yojana – An Investment and Tax Saving Plan

Sukanya Samriddhi Yojana is a small deposit scheme of the Government of India meant exclusively for a girl child and is launched as a part of Beti Bachao Beti Padhao Campaign. The scheme is meant to meet the education and marriage expenses of a girl child. It is currently fetching higher interest rate and provides income-tax rebate....

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Posted Under: Income Tax |

Credit Linked Interest Subsidy scheme for tax paying Middle Classes

Credit Linked Interest Subsidy scheme for tax paying Middle Classes made effective from January 1 this year. Those sanctioned house loans and applied for since January 1st eligible for interest subsidy of up to Rs.2.35 lakh each...

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Posted Under: Income Tax |

Download Amendments to Finance Bill 2017 As Introduced In Lok Sabha

Union Government has proposed several amendments to Finance Bill 2017 presented in Lok Sabha on 01.02.2017 by introducing notice of amendment to finance bill 2017 Lok Sabha on 01.02.2017. Some of the important amendment proposed are as follows :- 1. Appointment of, and remuneration to, the ITAT Member 2. Make Aadhar card mandatory for fil...

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Posted Under: Income Tax | ,

CBDT warns officials on airing of views on official matters via Press

No. B-12020/02/2017-Ad.IX (20/03/2017)

It has been observed that some Government servants have been unauthorisedly communicating with the Press either in their own name or in pseudonymous names. Instructions have been issued from time to time restraining all Government servants from communicating with the Press unauthorisedly but it is observed that the provisions of the Condu...

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ITBA Rectification Module for Income Tax Penalty orders

ITBA-Rectification Instruction No.1 (21/03/2017)

The functionality to rectify penalty orders passed in the System (Process flow from initiation of rectification to passing rectification order) is now available to the Users through the Rectification module of Income Tax Business Application (ITBA)....

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Income Tax Business Application- GPF Module in HMS

ITBA- GPF Instruction No.2 (21/03/2017)

General Provident Fund (GPF) is a scheme designed to benefit the employees. In CPT a small portion of the employee's salary is deducted and deposited with the government GPF office and at the time of retirement it is paid as a lump sum to help the employee lead his life peacefully in spite of retirement and loss of monthly income....

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Time Barring Scrutiny cases pending to be uploaded on AST System

F. No.DGIT(S)/DIT(S)-3/AST/Scrutiny/Manual Orders Upload/110/2016-17 (21/03/2017)

Time limit for uploading of manually passed orders on the AST system was extended by 60 days i.e. upto 01.03.2017. Even now it is seen that a large number of cases where Notice u/s 143(2) has been issued but Scrutiny order is yet to be uploaded in the AST system....

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Income Tax Business Application: Training Management Module

F. No, DIT(S)-3/ITGA/2016-17/9346 (21/03/2017)

Training Management Module is part of the ITBA HRMS Application. It is being designed to support the full range of training activities associated with employee and the administrators involved in the training process...

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Order No. 41 of 2017: Transfer and posting in CIT grade

Order No. 41 of 2017 (21/03/2017)

Postings/ transfers in the grade of Commissioner of Income Tax of 8 CITs posted at delhi are, hereby, ordered with immediate effect and until further orders:-...

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Latest Income Tax News

Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.

Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.

Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars.

At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.

Find all the latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning work plan. We keep updating our portal regularly so that you don’t miss out on anything.

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