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 revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...
Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...
Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...
Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...
Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...
Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Stay informed about the latest notification u/s 10(46) for Yamuna Expressway Industrial Development Authority. Find out the specified income and conditions outlined in the notification. Retrospective effect explained.
Explore the provisions of TDS U/S 194Q and its applicability to Kachha Arahitias in selling crops on behalf of farmers. Understand the objections raised by CPC and the relevant circulars issued by CBDT.
Ministry of Finance has released provisional figures of Direct Tax collections for the fiscal year 2023-24. The data reveals a consistent and significant growth trend in the collections up to 9th July, 2023.
ITAT Jaipur held that capital gain not computable in respect of sale deed executed in favour of daughter-in law as it is only a gift to close relative and not a sale.
ITAT Pune held that onus of proving the genuineness of transaction of receipt of donation not discharged. Accordingly, held that all cash donation transactions are sham, a make believe story, a device adopted created to sleeve undisclosed income through anonymous donations.
Bombay High Court held that as per clause (xiii) of section 144B(1), reply can be filed by the assessee on the date and time as specified or within the extended time. Accordingly, shutting down the window before completion of extended time limit is unjustified. Hence, assessment order liable to be quashed.
In present facts of the case, the ITAT observed that Guess work or estimation or extrapolation of income is not permissible unless there are strong evidences to suggest otherwise. The additions are to be based solely on tangible material and not on the basis of estimations or extrapolation theory
ITAT Chennai held that there is no obligation to deduct tax at source u/s 195 of the Income Tax Act as payment made to sister concern in USA is purely reimbursement of expense and does not involve any element of income.
Learn about the taxation of virtual digital assets (VDAs) and the set-off of losses on the sale of one VDA against the profit on the sale of another VDA. Explore the provisions under section 115BBH, the confusion surrounding set-off rules, and the implications for Bitcoin transactions. Gain insights into the classification of VDAs, the treatment of NFTs, and key considerations for taxation.
Learn the method to calculate the Net Annual Value (NAV) of a house property for income tax purposes. Understand the steps to compute the Gross Annual Value (GAV), deductions for rental income, and major points to consider when dealing with let-out house properties.
