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 : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...
Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...
Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...
Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
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 : ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being hear...
Income Tax : Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Comm...
Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...
Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...
Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
CBDT notifies ‘E Settlement Scheme, 2021’ vide Notification No. 129/2021-Income Tax Dated: 1st November, 2021. ‘E Settlement Scheme, 2021’ shall be applicable to pending applications in respect of which the applicant has not exercised the option under sub-section (1) of section 245M of the Act and which has been allotted or transferred by Central Board […]
Goutam Roy & Anr. Vs The State Of West Bengal & Ors. (Supreme Court of India) Supreme Court held that There cannot be complete ban on firecrackers. Strengthen mechanism to supervise and implement (Supreme Court’s earlier directions). FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER 1. SLP (C) No.17994/2021 @ Diary No.26789/2021 and SLP (C) Nos. 1799597/2021 @ […]
The power to levy income tax is available with the central government vide Entry 82 of the Union list of the Seventh Schedule to the Constitution of India. Tax is nothing but money that people have to pay to the government, which is then used by the government to provide public services. Tax is not […]
Federal Mogul Goetze (India) Limited Vs ACIT (Delhi High Court) It is our view that, the power available to the Tribunal under subsection (2) of Section 254 of the Act is not limited to a mistake committed by the Tribunal. The amendment to the order of the Tribunal can also be made, if it is […]
Confederation of Pharma Dealers Association Vs CIT (ITAT Raipur) Section 12A Registration cannot be denied merely for Leasing of Developed Plots to Members and Object beneficial to a section of public is also an object of general public utility It is evident that the objects of the assessee trust meant for benefit of pharma dealers […]
Smt. Smrutisudha Nayak Vs Union of India (Orissa High Court) Orissa High Court held that assessment proceedings cannot be initiated if no incriminating materials are seized at the time of the search. Smrutisudha Nayak (Petitioner”)filed the petition challenging the initiation of the assessment proceedings under Section 153A of the Income Tax Act, 1961 (IT Act). […]
Smt. Bhavana Jain, Prop. M/s Akash Metal Vs ITO (ITAT Delhi) The assessee’s explanation with regard to interest in the loose sheet i.e. blue diary found during the course of search was that it was for the purpose of memory and the addition could not have been made solely on the basis of loose paper […]
Shreeji Investment & Advisory Services Vs National Faceless Assessment Centre (Bombay High Court) As regards draft assessment order, the impugned order does not state that any draft assessment order was given but in the affidavit in reply filed by one Sreekala S. Nair affirmed on 21st September 2021, it is stated that the show cause […]
PCIT Vs Sonu Realtors Private Limited (Bombay High Court) Wrong deduction claimed which resulted in reduction of Tax liability can’t amount to concealment of income Pr. Commissioner of Income Tax (Appellant) filed the appeal being aggrieved against Order dated July 20, 2016 passed by Income Tax Appellate Tribunal (ITAT) in which the order of Appellant […]
Action Construction Equipment Ltd. Vs DCIT (ITAT Delhi) The Assessing Officer has not given any reason as to why he dropped the penalty in Assessment Year 2010-11 and sustained the imposition of penalty for Assessment Year (AY) 2009-10 under the same set of facts. Moreover, in the impugned penalty order, the Assessing Officer has stated […]
