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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.

Latest Articles


Everything about TDS Return Filing

Income Tax : Learn about TDS return filing: who must file, due dates, forms, required documents, penalties, how to check status, revising retur...

May 17, 2024 3882 Views 0 comment Print

Who Should File ITR? Guidelines and Exemptions

Income Tax : Unsure if you need to file your Income Tax Return (ITR) for FY 2023-24? Learn about mandatory filing criteria, exemption limits, a...

May 17, 2024 9423 Views 1 comment Print

Waive of Outstanding Income Tax Demand of earlier years

Income Tax : The CBDT implements the interim budget's historic announcement of waiving old tax demands up to specified amounts for certain fina...

May 17, 2024 1353 Views 0 comment Print

Essential Tips for Hassle-Free Filing Income Tax Returns like a Pro

Income Tax : Learn essential tips for hassle-free filing of income tax returns like a pro. Maximize deductions and minimize errors with these e...

May 17, 2024 2988 Views 0 comment Print

Is Your Income Tax Return Defective? What to Do Next

Income Tax : Learn what happens if your income tax return is deemed defective and how to rectify it. Understand Section 139(9) and your options...

May 16, 2024 894 Views 0 comment Print


Latest News


Real-Time Feedback Monitoring in Annual Information Statement introduced

Income Tax : CBDT, has introduced a new feature in Annual Information Statement (AIS) accessible via compliance portal on Income Tax Department...

May 14, 2024 2619 Views 0 comment Print

Guidance Note on Inventory Valuation under Income Tax Act 1961

Income Tax : Learn how to prepare Inventory Valuation Reports under Section 142(2A) of the Income Tax Act, 1961 with our comprehensive Guidance...

May 10, 2024 1485 Views 0 comment Print

Live Course on Section 43B(h) by CA Manoj Lamba – Last Few Hours to register

Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...

May 10, 2024 9819 Views 1 comment Print

CBI Arrests Mumbai Income Tax Officer for Bribery, Rs. 4 Lakh Seized

Income Tax : CBI) made a significant arrest today in Mumbai, apprehending an Income Tax Officer caught red-handed accepting a bribe of Rs. 4.00...

May 4, 2024 2142 Views 0 comment Print

Draft Guidance Note on Income-tax Audit Reports under Section 12A/10(23C)

Income Tax : Engage in shaping tax audit guidelines! Direct Taxes Committee invites public comments on the Exposure Draft for Guidance Note on ...

April 29, 2024 1305 Views 0 comment Print


Latest Judiciary


ITAT Directs AO: Delete Addition for Client Code Modification, No SEBI Violation Found

Income Tax : ITAT observed that reasons recorded by AO for reopening assessment did not mention name of assessee's broker or specific details i...

May 19, 2024 99 Views 0 comment Print

Assessments cannot be reopened merely on the basis of a change of opinion without valid grounds

Income Tax : Upesi Ventures Ltd. vs. ACIT: Bombay High Court nullifies reassessment notice for AY 2015-2016. Analysis of stock details reveals ...

May 19, 2024 129 Views 0 comment Print

ITAT Rejects Assessee’s Limited Scrutiny Claim, Citing Lack of Specific Notice

Income Tax : ITAT rejected the assessee's contention of limited scrutiny, stating that the notice under section 143(2) did not specify such lim...

May 19, 2024 111 Views 0 comment Print

20% Pre-Deposit Rule Not Mandatory for Stay of Demand: Delhi HC

Income Tax : Delhi HC directs AO to reconsider the 20% pre-deposit mandate for stay in recovery proceedings, highlighting CBDT instructions. Ca...

May 19, 2024 759 Views 0 comment Print

Issue of Share at Premium: ITAT Deletes Rs. 57.5 Crore Addition

Income Tax : ITAT Kolkata deletes Rs. 57.5 crore addition in ITO vs. Umang Trading Pvt. Ltd., affirming equity investments and explaining sourc...

May 19, 2024 276 Views 0 comment Print


Latest Notifications


Notification: Income Tax Exemption for Tamil Nadu Electricity Regulatory Commission

Income Tax : Ministry of Finance notifies Income Tax Act Section 10(46) for Tamil Nadu Electricity Regulatory Commission, exempting specified i...

May 8, 2024 387 Views 0 comment Print

Guidelines for Compulsory Income Tax Scrutiny for FY 2024-25

Income Tax : Understand the guidelines set by the Indian Ministry of Finance for the compulsory selection of returns for complete scrutiny duri...

May 3, 2024 12642 Views 0 comment Print

CBDT Extends Due Dates: Form No. 10A/10AB Filing upto 30th June, 2024

Income Tax : Get insights on Circular No. 7/2024 issued by CBDT, extending due dates for filing Form No. 10A/10AB under the Income-tax Act, 196...

April 25, 2024 23370 Views 0 comment Print

Section 10(46) Notification: Kerala Autorickshaw Workers Welfare Fund Scheme

Income Tax : Explore Notification No. 41/2024-Income Tax regarding Kerala Autorickshaw Welfare Fund Scheme, Kollam. Analysis, impact, and impli...

April 24, 2024 261 Views 0 comment Print

CBDT Circular No. 6/2024: Relief for TDS Deductors on PAN-Aadhar Linkage

Income Tax : Learn about CBDT Circular No. 6/2024 offering relief to TDS deductors for transactions up to March 31, 2024, when PAN becomes oper...

April 23, 2024 51405 Views 2 comments Print


Latest Posts in Income Tax

ITAT Directs AO: Delete Addition for Client Code Modification, No SEBI Violation Found

May 19, 2024 99 Views 0 comment Print

ITAT observed that reasons recorded by AO for reopening assessment did not mention name of assessee’s broker or specific details implicating assessee in fraudulent CCM transactions. Information provided did not establish a direct link between assessee and alleged tax evasion practices.

Assessments cannot be reopened merely on the basis of a change of opinion without valid grounds

May 19, 2024 129 Views 0 comment Print

Upesi Ventures Ltd. vs. ACIT: Bombay High Court nullifies reassessment notice for AY 2015-2016. Analysis of stock details reveals no income escape. Full judgment here.

ITAT Rejects Assessee’s Limited Scrutiny Claim, Citing Lack of Specific Notice

May 19, 2024 111 Views 0 comment Print

ITAT rejected the assessee’s contention of limited scrutiny, stating that the notice under section 143(2) did not specify such limitation.

20% Pre-Deposit Rule Not Mandatory for Stay of Demand: Delhi HC

May 19, 2024 759 Views 0 comment Print

Delhi HC directs AO to reconsider the 20% pre-deposit mandate for stay in recovery proceedings, highlighting CBDT instructions. Case: Centre for Policy Research vs DCIT.

Issue of Share at Premium: ITAT Deletes Rs. 57.5 Crore Addition

May 19, 2024 276 Views 0 comment Print

ITAT Kolkata deletes Rs. 57.5 crore addition in ITO vs. Umang Trading Pvt. Ltd., affirming equity investments and explaining source of funds.

IT Support Payments Not FTS under Article 12 of India-Netherlands DTAA

May 18, 2024 153 Views 0 comment Print

In a landmark ruling, ITAT Mumbai provides relief to Shell IT, asserting that payments for IT support aren’t considered FTS under India-Netherlands DTAA.

No addition on account of loss on forward premium account treating it as speculative in nature

May 18, 2024 108 Views 0 comment Print

DCIT Vs  J. K. Techno soft Ltd (ITAT Delhi) Conclusion: Forward mark contracts on foreign currency was incurred during the normal course of business and the losses incurred were the part and parcel of the business activity of assessee, which were allowable as business expenditure and not speculative in nature, thus any expenditure incurred for […]

Everything about TDS Return Filing

May 17, 2024 3882 Views 0 comment Print

Learn about TDS return filing: who must file, due dates, forms, required documents, penalties, how to check status, revising returns, and claiming TDS credit.

Who Should File ITR? Guidelines and Exemptions

May 17, 2024 9423 Views 1 comment Print

Unsure if you need to file your Income Tax Return (ITR) for FY 2023-24? Learn about mandatory filing criteria, exemption limits, and key thresholds in this comprehensive guide.

Section 115JB Allows Deduction of profit of sick industrial company in book profit computation

May 17, 2024 249 Views 0 comment Print

Since, appellant company is a sick industrial company for impugned assessment year, any profit derived from said industrial companies can be deducted while computing book profit.

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