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 : Check the TDS chart for FY 2025-26, covering various payments like salary, dividends, winnings, rent, and more. Understand the app...
Income Tax : Learn common errors in the Online 12A Registration Process and how NGOs can avoid delays or rejections when applying for tax exemp...
Income Tax : Learn about advance tax, eligibility, due dates, and payment process to avoid penalties under the Income Tax Act....
Income Tax : The scope of this analysis encompasses a detailed exploration of these three concepts within the Indian income tax framework, draw...
Income Tax : Compare the breakeven tax liabilities between the old and new tax regimes for FY 2024-25 and understand when each regime is more f...
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 : Delhi High Court voids tax reassessment. Variance between initial notice and subsequent order denied taxpayer fair opportunity to ...
Income Tax : ITAT Jaipur remands case on S.40A(3) non-compliance to CIT(A), imposing Rs. 2,000 cost for assessee's non-compliance. (158 Charact...
Income Tax : ITAT Delhi upholds CIT(A) decision, allowing TDS credit after verification, even if not claimed in return, ensuring fair tax colle...
Income Tax : ITAT Ahmedabad restores assessment, citing denial of fair opportunity and inadequate evidence review by AO in Sections 69A/69C cas...
Income Tax : ITAT Delhi held that discount on issue of Employee Stock Ownership Plan [ESOP] is allowable as deduction under section 37 of the I...
Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...
Income Tax : CBDT notifies Greater Mohali Area Development Authority for income tax exemption under section 10(46A), effective from assessment ...
Vishnu Tambi Vs DCIT (ITAT Jaipur) Under Section 271(1)(c) of the Act, the authority has been given discretion to levy the penalty in case there is a concealment of particulars of income and also with regard to quantum of penalty. However, it is a basic need of the provisions of law that definite finding is […]
The issue under consideration is whether agreement for construction of house interpreted as agreement for purchase for availing benefits of deduction u/s 54F if construction completed within three years?
The issue under consideration is whether the CIT is correct in restricting the disallowance u/s 69C against bogus purchase at rate of 12.5% of the bogus purchases?
DCIT Vs Jugal Kishore Garg (Derewala) (ITAT Jaipur) The ld. CIT(A) observed that it is evident that the surplus being referred to by the Ld. AO is not profit from the projects but the receipts of ‘on money’ credited to the capital accounts of the partners which has been considered in the additional income offered […]
1.1 Faceless assessments: A Paradigm Shift towards Digital & Anonymous Tax Administration!! Well Yes Friends, FACELESS ASSESSMENTS have become a REALITY now… Our Hon’ble PM Sh. Narendra Modi has launched a new platform for Transparent Taxation for ‘Honouring the Honest Taxpayers’, coining three new terms viz. Seamless, Painless & Faceless, for showcasing the perceived changed […]
Quick view on the New income tax provisions applicable from 01st Oct 2020. As all aware of the Amendment made in the section 206C in the budget 2020 by inserting subsections. 1. insertion of subsection – 206(1G) 2. insertion of subsection – 206(1H) insertion of subsection – 206(1G) Section read as follows (I) after sub-section […]
Cases where Income of a Previous Year will be assessed in the Previous Year itself under Income Tax Act, 1961. General Rule:- Income of a previous year is assessed in the assessment year following the previous year. Exception to this rule:- Cases where income of a previous year is assessed in the previous year itself:- […]
Mukesh Sohanraj Vardhan Vs. ITO (Mumbai ITAT) The ITAT Mumbai has put to rest an important controversy in the case of Mukesh Sohanraj Vardhan vs Income Tax Officer Mumbai decided on 28 August 2020 by holding that the extra consideration received on cancellation of Booking of Flats constitutes a ‘Capital Receipt’ and cannot be taxed as […]
whether assessee is considered as monthly tenant or deemed owner of the premises u/s.27(iiib) read with Section 269UA(f)(i) of the Act and accordingly whether rental income is taxable u/s.22 as ‘income from house property’ or not?
whether depreciation is mandatory to be granted while determining the Appellant’s entitlement to the deduction under Section 80IB of the Act, even though the Appellant had not claimed such depreciation?
