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 how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...
Income Tax : Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, a...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of ...
Income Tax : Bombay HC ruled on Anandkumar Dhanraj Rathod's tax case, addressing natural justice claims and directing him to appeal the assessm...
Income Tax : ITAT Chennai dismisses FLsmidth's appeal, upholding PCIT's order for reassessment due to lack of verification by AO....
Income Tax : ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. Vijay Maneklal Bhansali’s appeal dismissed, citing lack of eviden...
Income Tax : ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made d...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...
Akshata Realtors Pvt. Ltd. Vs ACIT (ITAT Raipur) ITAT held that the Approval granted by the JCIT, Range Central, Raipur under section 153D on ‘presumption’ basis without thoroughly going through the seized material, assessment records etc. as perfunctory, without application of mind, mechanical in nature hence, invalid, bad in law and liable to be quashed. […]
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 31st March, 2023 / Chaitra 10, 1945 (Saka) The following Act of Parliament received the assent of the President on the 31st March, 2023 and is hereby published for general information:— THE FINANCE ACT, 2023 No. 8 OF 2023 [31st March, 2023.] An Act to […]
Explore the comprehensive analysis of UAE Corporate Tax Law, article by article. Understand definitions, imposition rates, exemptions, taxable persons, and more for effective compliance.
It was held that where an assessee claims deduction of interest paid on capital borrowed, assessee had to show that capital which was borrowed was used for business purpose in relevant year and it did not matter either capital was borrowed in order to acquire a revenue asset or a capital asset.
Sale of prepaid sim cards / recharge vouchers by the assessee to distributors cannot be treated as commission / discount to attract the provisions of section 194H of the Act and hence there cannot be any obligation on the part of the assessee to deduct tax at source thereon and consequentially there cannot be any disallowance u/s 40(a)(ia) of the Act.
New Tax Regime: The New Tax Regime shall be treated as Default Regime. The taxpayers shall still have an option to choose from the prior regime (OLD TAX REGIME). Change in Income Tax Exemption Limit: The Tax limit has been enhanced from Rs 5Lakhs to Rs 7 Lakhs that means individual up to Rs 7 Lakh income shall be exempted and need not to make any investment to claim tax slab exemption.
Discover the impactful New Income Tax Rules effective from April 1, 2023. Changes in tax regime, slabs, rebates, standard deduction, surcharge, and more. Stay informed for efficient tax planning in the Financial Year 2023-24.
Learn how to resolve grievances as a deductor on TRACES website. Follow these steps for resolution, tracking, and online correction. Start now!
Learn how to make online corrections to Form 26QB for TDS on property sale in India. Detailed steps and guidance for hassle-free corrections.
Explore essentials of TDS on property transactions (Section 194-IA) & rental income (Section 194-IB) in India. Learn compliance, thresholds, and more.
