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 : The new Income Tax Bill consolidates provisions for non-profits, covering registration, taxation, compliance, and capital gains ru...
Income Tax : The Income-Tax Bill 2025 simplifies house property income taxation, reducing complexity while maintaining key provisions for bette...
Income Tax : India's Income Tax Department shifts to a taxpayer-friendly approach, prioritizing silent recoveries, refund adjustments, and redu...
Income Tax : Explore why Cost Accountants (CMAs) should be included in the definition of "Accountant" under the Income Tax Bill 2025 for a comp...
Income Tax : Understand the New Tax Regime 2025 with updated slabs, deductions, and exemptions. Learn how to save tax and choose the best regim...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Karnataka High Court dismisses Revenue’s appeal in PCIT Vs Ennoble Construction, ruling on transport creditors' tax liability ...
Income Tax : Supreme Court emphasizes reasonable cause for TDS non-deduction under Section 271C. Highlights interplay of Sections 4, 5, 9, and ...
Income Tax : Delhi HC directs Nil TDS for SFDC Ireland citing no Permanent Establishment in India. Clarifies taxation under DTAA and Rule 28AA ...
Income Tax : Claim of the assessee for deduction for education cess was on a bonafide belief that it was allowable expenditure u/s. 37(1) and h...
Income Tax : Delhi High Court held that Freight Logistic Support Service provided by appellant are not in the nature of Fee for Technical Servi...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
No Requirement To File Form 10-IE For Persons Not Having Business/Profession Income Section 115BAC- NEW TAX REGIME (applicable from AY 21-22) As all of you are aware, the Budget 2020 introduced a new tax regime under section 115BAC to Individuals and HUF to pay income tax at lower slab rates when compared to normal slab […]
Analysis of Issue of late deposit of ESI and EPF by Assessees us 36(1)(va) of Income Tax Act, 1961 1. Provision of Section 36(1) (va) any sum received by the assessee from any of his employees to which the provisions of sub-clause (x) of clause (24) of section 2 apply, if such sum is credited […]
INTRODUCTION: New Income Tax Portal was launched on 7th June, 2021 by CBDT (Central Board of Direct Tax). New Income Tax Portal i.e. ‘www.incometax.gov.in’ is been replaced by the old e- filing portal i.e. ‘www.incometaxindiaefiling.gov.in’. The individual who wants to file their returns has to file returns on this new portal now onwards. The portal […]
Waived off loan means a situation wherein the lender voluntarily relieves a borrower of the obligation or liability to repay loan. This means that there is a surplus of cash/money in the hands of borrower and thus, a receipt in the hands of the borrower/assessee. Now the question is whether such waived off loan shall […]
Infosys BPM Limited Vs JCIT (ITAT Bangalore) Order of assessment framed in the name of a non nonexistent entity after it ceased to be a subsisting entity, was ab-initio initio void and therefore, null in the eyes of law. On similar facts and circumstances of the case and law applicable, the ITAT, Bangalore bench in […]
CBDT notifies pension fund, namely, ‘276522 Ontario Limited’ under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 in respect of the eligible investment made by it in India on or after 16th September, 2021 but on or before the 31st day of March, […]
CBDT notifies pension fund, namely, ‘2452991 Ontario Limited’ under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 in respect of the eligible investment made by it in India on or after 16th September, 2021 but on or before the 31st day of March, […]
Joseph Mudaliar Vs DCIT (ITAT Mumbai) Addition u/s 56(2)(vii)(b) on difference in value in respect of the subject properties where declared sale consideration shown by the assessee is lesser than the stamp duty value (market value) determined by the stamp duty authority Addition u/s 56(2)(vii)(b). The difference in value in respect of the subject properties […]
Audit of accounts of certain persons carrying on business or profession. 44AB. Every person – (a) carrying on business shall, > if his total sales, turnover or gross receipts, > as the case may be, > in business exceed or exceeds > one crore rupees in any previous year Following proviso is inserted after clause […]
Bansiwala Iron & Steel Rolling Mills Vs DCIT (ITAT Jaipur) Since the A.O. is a quasi-judicial authority, who has to collect the evidences, material and then to adjudicate the matter after due and complete application of mind. The A.O. expected to record his own satisfaction before reaching to any conclusion. In our view, the A.O. […]
