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 Income-tax Bill, 2025 has been tabled in Parliament on 13th February 2025, marking a significant step toward simplifying the l...
Income Tax : Overview of key income tax changes for non-residents, charitable trusts, and individuals, including SEP rules, fund management, an...
Income Tax : Budget 2025 focuses on economic growth, tax reforms, and infrastructure. Key changes include new tax rates, financial sector refor...
Income Tax : Explore tax benefits available for parents under the Income Tax Act, including education, health insurance, and deductions for med...
Income Tax : Understand tax rules for debt mutual funds based on purchase date. Learn about slab rates, LTCG tax, indexation, and rebate eligib...
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 : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : ITAT Chandigarh rules against penalty on estimated income in AKM Resorts vs ACIT, reinforcing that additions based on estimation d...
Income Tax : Supreme Court reaffirms that charitable trust registration under Section 12AA of the Income Tax Act should be based on proposed ac...
Income Tax : ITAT Pune dismisses Indrayani Seva Samiti's appeal due to an unexplained 8-year delay, citing lack of sufficient cause and uphold...
Income Tax : ITAT Bangalore held that addition under section 69A towards cash deposits during demonetization deleted since cash deposit was mad...
Income Tax : ITAT Mumbai held that passing of assessment order u/s 147 r.w.s. 144B of the Act without disposing the objections raised by the as...
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 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Real Estate is an ever green investment option in India and it has always given good returns. It can be a residential or commercial property. Real Estate gives recurring income in form of rent and appreciation in value in case of re-sale. As it gives good return, so taxability of income earned from real estate too arise. Taxability of income from real estate can be explained as below.
Kalyan Constructions Vs ITO (ITAT Hyderabad) Provisions of Section 40A(3) mention that where an assessee incurs any expenditure in respect of which payments were made to a person otherwise than by way of crossed cheque or account payee cheque, no deduction shall be allowed in respect of such expenditure. It is humbly submitted that when the […]
If an individual/Huf receives from any person or persons any gift , exceeding Rs. 50000 in any previous year, as per income tax laws, the aggregate amount shall be taxable as Income From Other Sources in the hands of individual or HUF U/s 56. The gift can be the following
The word held used in section 2(14) implies right over a capital asset. In the instant case, right over the property was held by assessee for the period of 36 months, by paying first installment and builder issued a provisional letter of allotment and from that period, assessee had been enjoying legal right over the said property.
Important dates for income tax return filing and advance tax due for individuals and businesses. Stay updated on the deadlines and avoid penalties.
Article Compiles TCS Rates for F.Y. 2016-17 to 2018-19 under Section 206C of Income Tax Act, 1961 stating Nature of Payment, Threshold Amount, TCS Rate as applicable to Individual / HUF and others. It Provides TCS Rate on Scrap, TCS Rate on Tendu Leaves, TCS Rate on Timber obtained under a forest lease or other […]
In case the House Rent Allowance (H.R.A.) is provided then there will be a tax savings (Please refer Valuation sheet for details). The above mentioned savings is mainly because of the methods Income tax act and Rules employs for valuation of taxability of H.R.A and Rent Free Accommodations (R.F.A.).
We Indians, always wait for last date for any task whether it filling of examination form or Income Tax Return. As we all knew last date for filling of Income Tax Return for A/Y 2018-19 was extended from 31st July 2018 to 31st August 2018 but still there are many who have not filled their Return and now all these persons seeking appointment with their CA/CMA.
A bare reading of section 54F clearly shows that the assessee is entitled for exemption in case he/she purchase/constructs a one residential house in India within a period of two/three years after the sale of the capital asset or purchases one year before the date of transfer. However, sub-clause (4) of section 54F clearly says that the unutilized portion of the net sale consideration [not utilized before the date of furnishing the return of income under section 139] which is otherwise liable for capital gain tax shall be deposited in the capital gain account scheme within the period of due date for filing return of income under section 139(1).
CBDT notifies NSE IFSC Limited, Gandhinagar, Gujarat under clause (ii) of Explanation 1 of clause (d) of proviso to sub-section (5) of Section 43 of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (4) of Rule 6DDB of the Income-tax Rules, 1962 vide Notification No. 36/2018 Dated 31st of July, 2018.
