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...
Suppose you are a non-resident Indian (NRI) or a person of Indian origin (PIO) with income sources outside India. In that case, you may wonder how to file your income tax returns in India. This article will explain the basics of e filing of income tax return for international income sources.
ITAT Ahmedabad held that benefit of exemption under section 11 of the Income Tax Act cannot be denied merely on account of delay in furnishing of audit report in Form No. 10B.
Demystify complex taxation terms under the Income Tax Act in India with simplified explanations. Understand key concepts like income, taxable income, deductions, exemptions, assessment year, advance tax, TDS, tax return, tax credit, penalties, tax residency, capital gain, tax audit, tax evasion, tax planning, APA, tax deductible, and GST. Gain insights into the layman’s language definitions to navigate the tax landscape effectively. For personalized advice on tax matters, consult with a Chartered Accountant with over 5 years of experience.
Unravel the tax implications of gifts received during weddings in India. Explore the Income Tax Act’s provisions on gift taxability, exemptions, and specific categories like gifts from relatives and non-relatives. Gain insights into case studies illustrating tax exemption scenarios for gifts during weddings. Learn the importance of documentation and compliance to navigate the tax landscape confidently. Connect with a Chartered Accountant for personalized advice on managing tax implications for gifts during weddings.
ITAT Mumbai held that expenses booked upto the date of survey cannot be treated as bogus only for the reason that the expenses were accounted in the books of account subsequent to the date of search.
ITAT Mumbai held that as per first proviso to section 56(2)(vii)(b), where date of agreement fixing amount of consideration for transfer of property and ate of registration is not same, the stamp duty value on the date of allotment is to be taken.
ITAT Delhi held that benefit of deduction under section 80IA of the Income Tax Act eligible for interest income earned on fixed deposit.
ITAT Delhi held that disallowance of genuine claim of depreciation merely because the depreciation figure is not reflected in column no. 45 of ITR is unsustainable in law. Action of lower authorities of disallowing the genuine claim of depreciation on a very flimsy reason is unjustified.
CBDT notifies the Cost Inflation Index for the financial year 2023-24, i.e., Assessment Year 2024-25, at 348, vide Notification No. 39/2023 Income-Tax, dated 12th June 2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 39/2023 Income-Tax | Dated: 12th June, 2023 S.O. 2571(E).— In exercise of the powers conferred by […]
CBDT notifies e-advance rulings (Amendment) Scheme, 2023 which amend e-advance rulings Scheme, 2022. Amendments are related to Board for Advance Rulings and notified vide Notification No. 38/2023 Income-Tax Dated: 12th June, 2023. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 38/2023 Income-Tax | Dated: 12th June, 2023 S.O. 2569(E).—In exercise of […]
