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 : Explore India's digital taxation measures like Equalization Levy, Significant Economic Presence, and GST on online services. Learn...
Income Tax : Learn about ITR-U, a form for updating income tax returns. Understand eligibility, filing process, deadlines, and additional tax i...
Income Tax : This article explores the evolution of digital taxation, its implications for businesses and economies, the challenges associated ...
Income Tax : In this blog post here, we would like to address the impact of progressive taxation on income inequality in India with regard to t...
Income Tax : This blog compares the Old Tax Regime and New Tax Regime in detail, highlighting their key features and helping taxpayers make an...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
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 : ITAT Surat remands penalty case under Section 271B to AO, ruling that bank transactions alone cannot determine turnover. Fresh con...
Income Tax : ITAT Mumbai restores MITC Metals case for fresh adjudication, ruling that assessment order was not void ab-initio despite ongoing ...
Income Tax : Explanation to Section 14A has only a prospective effect from April 1, 2022, and cannot be retrospectively applied to earlier asse...
Income Tax : ITAT Ahmedabad dismisses Somnath Kelavni Mandal's income tax appeal due to continuous absence in proceedings. Case pertains to une...
Income Tax : ITAT Delhi held that provision of section 43A of the Income Tax Act not invocable when there is only reinstatement of fluctuation ...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
In his Budget three years ago, the Finance Minister announced the introduction of the New Direct Taxes Code (‘DTC’) and a draft of the same was also circulated for comments and discussion. Thereafter, based on the inputs from various lobbies; the revised draft was constructed and the DTC Bill was introduced in the Parliament in August 2010.
Section 193 of the Act- Tax deduction at source from payment of interest on debentures, Section 194E of the Act – Tax deduction at source from payment to non-resident entertainer, sports person etc., Section 194J of the Act – Tax deduction at source from payment to director, Section 194J of the Act – Tax deduction at source from payment to director, Section 194LAA- Tax deduction at source from payment for immovable property in certain cases, Section 194LC- Tax deduction at source from payment of interest to a non-resident by an Indian company- New provision, Applicability of Section 195 of the Act on non- resident -Amendment in Section 197A of the Act – Reduction of the eligible age for senior citizens for certain tax reliefs, Section 201- Assessee in Default- Amendment – S. 201 Deemed date of payment of tax by resident payee is date of furnishing of return of income, Section 154 of the Act – Rectification of mistake in intimation with respect to TDS statement – Intimation after processing of TDS statement
Income Tax Rates Chart cum Calculator covering AY 2013-14 (proposed rates in Budget 2012), AY 2012-13 and 2011-12. Contributed by- http://www.meraconsultant.com- Download File- Simple Income Tax Calculator for for AY 2013-14, AY 2012-13, AY 2011-12
The Finance Bill, 2012 has proposed to amend provisions regarding AMT contained in Chapter XII-BA in the Income-tax Act to provide that a person other than a company, who has claimed deduction under any section (other than section 80P) included in Chapter VI-A under the heading C – Deductions in respect of certain incomes” or under section 10AA, shall be liable to pay AMT in the same manner as has been prescribed under the Act with respect to LLPs.
It is proposed that TCS provisions shall be made applicable on sale of minerals being coal or lignite or iron ore at the rate of 1%. In other words, seller of minerals being coal or lignite or iron ore shall be required to collect TCS @1% at the time of debiting the amount receivable from the buyer or at the time of receipt of such amount from the said buyer in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier
CA Avinash V. Rawani As we all know finance Minister has presented Union Budget 2012-13 on 16th march in parliament. The budget has made several amendments in direct tax provisions like imposition of TDS / TCS on certain Income and Expenses, Increase in tax Audit limit, Several measure to Curb Black money, Change in Income […]
Whether where substantial investment has been made and the new plant and machinery is installed in the newly constructed building it can be said that assessee has set-up a new industrial undertaking and it is not the expansion of earlier unit and hence the depreciation of such unit is not to be set-off with the income of that unit which enjoys deduction u/s 80I.
We have uploaded below the Income tax Calculator for the Assessment year 2013-14 or Financial year 2012-13 for Salaried person. the calculator is been prepared after considering the recent amendment by Union Budget 2012-13. Automated TDS / Income tax Calculator for Financial Year 2012-2013 or Assessment year 2013-14 Developed by- Pranab Banerjee ALSO READ S.NO. […]
The rates are for the previous Year 2012-13: 1. Income Tax Rates 1.1 For Individuals, Hindu Undivided Families, Association of Persons and Body of Individuals
General Anti-Avoidance Rules (GAAR) proposed to be introduced in the Income -tax Act, 1961 to check aggressive tax planning. Earlier, the Direct Taxes Co de Bill, 2010 had proposed to introduce GAAR. • Transfer pricing provisions proposed to be introduced in respect of specified domestic transactions exceeding the prescribed threshold. • Clarifications in sections 9 and 195 in the context of judicial decisions to tax gains from off-shore transactions where the underlying assets are located in India.
