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 advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Receiving an income tax notice can be disconcerting, particularly for individuals who are not well-versed with tax laws and compli...
Income Tax : Discover key highlights of India's Income Tax Bill 2025, effective April 2026, featuring simplified tax structures, revised slabs,...
Income Tax : Supreme Court clarifies the applicability of TOLA to reassessment notices under the Income Tax Act, addressing the interplay with ...
Income Tax : Penny stocks, often associated with small, illiquid companies, have been a subject of concern due to their susceptibility to price...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : Gauhati High Court held that addition merely on the basis of retracted statement without any other relied upon evidence/ material ...
Income Tax : ITAT Jaipur quashes addition of suppressed school fees for Pushpa Vidya Niketan, stating survey statements lack evidentiary value...
Income Tax : ITAT Mumbai rules that the 10% tolerance limit under Section 50C/56(2)(x) is curative and applies retrospectively, impacting prope...
Income Tax : ITAT Bangalore upheld CIT(A)'s acceptance of additional evidence in local language, dismissing AO's addition under Section 69A. Re...
Income Tax : ITAT Bangalore set aside penalty orders under Section 271B due to improper notice delivery to an unrelated email ID and failure to...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
Assessee in respect of premium paid to insurance company could not be brought to tax subject to the fact that assessee should not avail deduction u/s 80C of Act in respect of premium paid towards that insurance policy.
In this case AO has not applied his own mind before issuing notice and to arrive at conclusion that assessee has escaped an income and made addition on the basis of report submitted by Investigation Wing. So, Learned AO issued notice purely on borrowed satisfaction. In our considered opinion, in such case addition cannot be made.
CBDT specifies that for deciding deferment of appeals before Appellate Tribunal or jurisdictional High Court by AO under section 158AB of Income Tax Act, a Collegium shall be constituted
Forms 1042, 1042-S, and 1042-T are U.S I.R.S taxation forms dealing with dealings with foreign persons, including non-resident aliens, foreign entities, etc. Forms 1042 and 1042-S need to be filed separately. The main difference between these forms is that form 1042-S is concerned with payments made to foreign nationals, while form 1042 is concerned with […]
Article explains What is Double Taxation Avoidance Agreement (DTAA), and how DTAA helps, types of relief under DTAA, Benefits of DTAA, How to claim DTAA benefits in India and What are the documents required for an NRI to claim DTAA benefit. What if you currently reside in the UK, have invested in India, and are […]
Many non-resident Indians (NRIs) came to India just as COVID-19 had started to spread and were stuck in India for a longer period. The main concern after the pandemic was regarding the treatment of their tax liabilities. However, the government has come up with various rules about the residential status of these people. Benefits In […]
Gain a comprehensive understanding of transfer pricing regulations with this informative article. Learn about Section 92A to 92F and Rules 10A to 10E.
Discover the FAQs on issues in filing Tax Audit Report Form 3CA-CD/3CB-CD. Learn about prerequisites, process, and more.
Information received from Directorate of Income tax (investigation) cannot be considered to be information received from an external source.
Books were never rejected by Assessing Officer and thus business loss cannot be disallowed without taking cognizance of all relevant aspect of matter
