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 : Discover the highlights of the Form 3CD amendments effective April 1, 2025, including new clauses for cruise ships and MSMEs....
Income Tax : Mumbai ITAT rules co-ownership doesn’t imply tax liability. Sale proceeds taxed only for the beneficial owner, not co-owner in V...
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 : 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 : ITAT Pune ruled that Section 68 applies only to amounts credited in the relevant year. Addition of ₹10L as unexplained cash cred...
Income Tax : Asha Viren Raj Vs ITO (ITAT Mumbai) The Asha Viren Raj Vs ITO (ITAT Mumbai) case revolves around the contentious issue of reassess...
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 : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
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...
High Court held that reasons provided to the petitioner did not contain any information but it is titled as ‘cash related information detail’ and such information cannot be said to be sufficient for reopening of the assessment.
Section 80GG deduction is to be claimed only in the cases where any residential accommodation is not owned by the assessee or by his spouse or minor child or by Hindu Undivided Family of which he is a member.
Grievances and suggestions with respect to the functioning of Demand Facilitation Center, CPC (DFC) in connection to the outstanding demand
Assessee to satisfy the authority by submitting Crypto currency ledger to verify information as was submitted by him before AO in proceedings under Section 148A
Members may to raise any issues related to Tax Audit where elucidation, clarification or further elucidation is desired at email id taxauditclinic@icai.in
Ensure Compliance: Offering freebies to doctors may lead to serious consequences under Section 37(1) of the Income Tax Act. Any expenditure deemed an offense or prohibited by law is disallowed in income computation. The legal implications and disallowance criteria are clearly outlined. Stay informed with Circular No. 5/2012, emphasizing the inadmissibility of expenses related to freebies provided to medical practitioners.
Office Order No. 204 of 2022, Dated: 19.09.2022 transfer/postings of 155 officers in the grade of Principal Commissioner of Income Tax/ Principal Director of Income Tax (Pr. CIT/Pr. DIT). F.No.A.22011/4/2022-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Office Order No. 204 of […]
Denial of pension is a continuing wrong. This Court cannot also be oblivious to the difficulties of a retired employee in approaching the Court, which could include financial constraints.
Office Order No. 203 of 2022-Income Tax Dated: 19.09.2022 on transfer/postings of 83 officers in the grade of Chief Commissioner of Income Tax/ Director Generals of Income Tax (CCIT/DGIT). F. No. A-22011/3/2022-Ad-VI (Pt.I) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Office Order […]
ITAT held that merely for not producing the cash creditors before the Ld. AO even when all the necessary documents as required to prove the identity, creditworthiness and genuineness of the cash creditors are furnished by the assessee, cannot be a reasonable basis to make addition for unexplained cash credit u/s 68 of the Act.
