Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Income Tax : Union Budget 2025-26 offers tax relief for individuals, senior citizens, and small businesses while simplifying compliance and pro...
Income Tax : Know how rebate under Section 87A and short-term capital gains u/s 111A apply under the new tax regime for FY 2024-25, with exampl...
Income Tax : As the new financial year begins, individual taxpayers must take note of several important amendments in the Income Tax Act that c...
Income Tax : Understand Form 29B and 29C under Sections 115JB & 115JC for MAT and AMT audits. Know applicability, filing, and compliance requir...
Income Tax : Understand tax benefits under Sections 80GGB & 80GGC for political donations, eligibility rules, compliance needs, and recent lega...
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITAT Ahmedabad overturns CIT(E)'s rejection of Indian Red Cross's 80G approval, citing ignored submissions and directs fresh adjud...
Income Tax : ITAT Raipur quashes Sec 147 reassessment in ITO Vs Bishambhar Dayal Agrawal. Held reopening based on change of opinion, not new ma...
Income Tax : The petitioner contends that the 1st respondent lacked jurisdiction to issue notice, as the 1st respondent is not the Assessing Of...
Income Tax : ITAT Pune held that satisfaction note is required to be recorded u/s.153C for each assessment year, thus, recording of consolidate...
Income Tax : ITAT Jaipur held that addition towards undisclosed income rightly sustained since assessee failed to explain the incriminating mat...
Income Tax : Finance Ministry exempts 80CCA withdrawals from TDS under Section 194EE. Individuals withdrawing after notification date are affec...
Income Tax : Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from Apr...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Deadline set for December 31, 2025. Know co...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Know the latest Income Tax Rule amendments ef...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
ITAT Bangalore held that if for reasons given by CIT(A) working capital adjustment cannot be allowed to the profit margins, then the comparable uncontrolled transactions chosen for the purpose of comparison will have to be treated as not comparable in terms of Rule 10B(3) of the Rules. Matter remanded to re-compute the working capital adjustment.
ITAT Chandigarh held that suspicions entertained by the Revenue cannot be the basis of unsettling the valid order and hence revisionary order proceeded entirely on presumptions, conjectures and surmises is liable to be quashed.
ITAT Bangalore held that expenditure of ESOP cross-charge is wholly and exclusively for the purpose of business, said amount remitted by the assessee to ultimate holding company, and hence allowable expenditure u/s 37(1) of the Income Tax Act.
Key Features – Return Preparation Utility (RPU) version 4.4 e-TDS/TCS Return Preparation Utility Ver. 4.4 for Regular & Correction Statement(s) from FY 2007-08 onwards. 5 new section codes are added under Annexure I (i.e. deductee details) of Form 26Q which are as below: Section Nature of payment (description to be populated for this section code […]
The present format of ITR as well as the one proposed in the draft Common ITR, requires the assessee to furnish Financial Statements in a format adapted to the requirements of the department for variety of reasons including meaningful analysis.
What are the parameters to consider the cessation of liability to be taxed u/s 41(1) of Income-tax Act,1961 and relation with limitation Act 1963?
PCIT Vs Pro Interactive Service (India) Pvt. Ltd (Delhi High Court) In view of the judgments of the Division Bench of Delhi High Court in Commissioner of Income-Tax versus Aimil Limited, (2010) 321 ITR 508 (Del) the issue is covered against the Revenue and, therefore, no substantial question of law arises for consideration in this […]
Understand the impact of Benami transactions and property dealings. Learn about the legal implications and consequences of such transactions.
Kerala High Court held that as per provisions of section 119(2)(b) the delay to be condoned is the delay in making the application for refund. Accordingly, date of filing of return of income should be considered as application for refund. Section 119(2)(b) does not impose any limitation for the purposes of filing an application for condonation of delay.
Income tax addition could not be made under section 43CA in absence of element of transfer. When assessee was not an owner of any asset, there couldn’t be any question of transferring the same to someone else whether provisions of sec43CA was complied with or not would be a secondary issue.
