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 : Understand the updated TDS rates for FY 2025-26 (AY 2026-27). Comprehensive chart covering salary, interest, dividends, rent, and ...
Income Tax : Budget 2025 revises income tax slabs, making ₹4,00,000 tax-free. New rates range up to 30% for income above ₹24,00,000. Key de...
Income Tax : Income tax bill, 2025 aims to replace Income Tax Act, 1961, simplifying tax laws. Questions arise about its impact on revenue, lit...
Income Tax : Income Tax Bill 2025 introduces changes to TDS, TCS, and LRS provisions, raising threshold limits and reducing compliance burdens....
Income Tax : CIT International Tax- 1 Vs Expeditors International of Washington INC (Delhi High Court); ITA 202/2022; Dated: 13/02/2025 In a si...
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 : 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 : Bombay HC rules in CIT vs. Nitish Chordia that agricultural land distance must be measured by road, not aerial view, impacting cap...
Income Tax : ITAT Surat rules that for capital gains tax on agricultural land, municipal limits are determined by notification in force at the...
Income Tax : ITAT remands case regarding taxability of interest income earned before business commencement, citing need for fresh adjudication ...
Income Tax : Bombay High Court rules reassessment proceedings against Alok Industries invalid post-resolution plan approval under IBC, citing S...
Income Tax : ITAT Jaipur dismisses Bansi Lal's appeal, upholding additions for unexplained bank deposits and interest income. Tribunal cites l...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
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...
Tax authorities will not take legal recourse in cases where the disputed amount is below a certain threshold, as the government looks to reduce unproductive litigation. The new rules are in sync with a national litigation policy that seeks to make the government an efficient and responsible litigant.
After telecom giant Vodafone, it is now the turn of another cross-border merger involving Indian assets to have landed in a tax tangle. Sanofi-Aventis, which picked up a majority stake in the unlisted Hyderabad-headquartered pharma major Shantha Biot
More trouble seems to be in store for telecom minister A Raja, with the income-tax department resuming a probe on whether his ministry was involved in any irregularity while allocating the 2G spectrum to new players. According to an official of the
Worried over reports of alleged corruption especially in issuing refunds to taxpayers, the Income Tax Department has brought its own officials under strict vigilance scanner and has issued instructions to the top brass to constantly monitor the proce
An analysis of India’s latest tax report card throws up some new leaders in terms of growth rates. Lucknow has emerged ahead of past leaders like Guwahati and Bhopal as the region with the highest all India growth rate. Kolkata is the most impressive
Taxpayers can now look forward to a faster redressal of grievances related to refunds and returns without the many visits to Income Tax offices as the department is all set to bring a number of its services online. The department is in the process of
Q of S. 40A (2) not examined as exercise is “revenue-neutral”. Transfer Pricing Provisions should be extended to domestic transactions to “reduce litigation” The assessee did not have any employee other than a company secretary and all administrative services relating to marketing, finance, HR etc were provided by Glaxo Smith Kline Consumer Healthcare Ltd (“GSKCH”) pursuant to an agreement under which the assessee agreed to reimburse the costs incurred by GSKCH for providing the various services plus 5%. The costs towards services provided to the assessee were allocated on the basis suggested by a firm of CAs. The AO disallowed a part of the charges reimbursed on the ground that they were excessive and not for business purposes which was upheld by the CIT (A). However, the Tribunal deleted the disallowance on the ground that there was provision to disallow expenditure on the ground that it was excessive or unreasonable unless the case of the assessee fell within the scope of s. 40A (2). It was held that as it was not the case of the Department that s. 40A (2) was attracted, the disallowance could not be made (see 290 ITR 35 (Del) for facts). The department challenged the deletion. HELD dismissing the SLP
Net direct tax collections in the first seven months of the current fiscal crossed the mark of rupees two trillion and stood at Rs. 2,04,351 crore as on 31st October 2010 (April-October, 2010). This is up from Rs. 1,73,447 crore collected during the
Deductors’ Manual for quarterly returns Dos and Don’ts for Deductors/Collectors B. Forms Form 24Q Form 26Q Form 27Q Form 27EQ Form 27A C. Data Structure For statement pertaining to FY 2010-11 and onwards File Format for Form 24Q (1st, 2nd & 3r
Supreme Court has asked the finance ministry and Central Board of Direct Taxes (CBDT), the apex body in charge of administering India’s taxation system, to amend transfer pricing, or TP, laws if it wishes to bring domestic transactions under their ambit.
