Income Tax - Page 2

Notice Received U/s Section 133 (6) of Income Tax Act, 1961? An Eye Opening Case Study

Discover an eye-opening case study about a taxpayer's experience with Section 133 (6) of Income Tax Act, 1961. Learn lessons on handling tax notices effectively....

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Criminal Charges for delayed tax payment Persist Despite Vivad Se Vishwas Scheme: SC

PCIT Vs Macrotech Developers Ltd. (Supreme Court of India)

Supreme Court decision: Criminal charges for late self-assessment tax payment to persist despite Vivad Se Vishwas Scheme approval. Get insights into the ruling....

‘Non-cooperative attitude’ alone cannot justify penalties: ITAT Delhi

Alankit Imaginations Ltd Vs DCIT (ITAT Delhi)

Explore the case of Alankit Imaginations Ltd vs. DCIT (ITAT Delhi), where penalties were challenged. Learn why a 'non-cooperative attitude' alone cannot justify penalties....

Section 194A TDS on Interest to NBFCs: Compliance and Challenges

Non-Banking Financial Companies (NBFCs) play a crucial role in providing financial support to businesses. However, what many businesses may not realize is that there are Tax Deducted at Source (TDS) obligations associated with interest payments made to NBFCs. This article explores Section 194A of the Income Tax Act, shedding light on the ...

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Capital Gain Tax Exemption – Date of Acquiring New Property

Learn about date of acquiring a new property and its impact on capital gain tax exemption under Section 54 of Income Tax Act. Explore legal cases and guidelines....

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1 अक्टूबर 2023 से टीसीएस के नियमों मे बदलाव

1 अक्टूबर 2023 से टीसीएस के नियमों में हुए बदलावों का प्रभाव। नए नियमों के तहत विदेश में खर्च और लेनदेन पर टीसीएस का प्रभाव और उनकी वि...

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Consultancy service involving substantial technical skill cannot be treated as FIS

Bain & Company Vs Deputy/ACIT (ITAT Delhi)

ITAT Delhi held that as per India-USA DTAA provision of consultancy services cannot be treated as FIS merely because the service provider while providing consultancy services had used substantial technical skill and expertise....

Services rendered outside India but used in India is taxable in India

Metso Outotec OYJ Vs DCIT (ITAT Kolkata)

ITAT Kolkata held that the assessee has no permanent establishment in India and these services were also rendered outside India but the services has been used in India and, therefore, it is taxable in India....

Employee Stock Option Expense Disallowance Unsustainable as it is revenue in nature

DCIT Vs Cleartrip Private Limited (ITAT Mumbai)

ITAT Mumbai held that disallowance of employee stock option expenses alleging it to be capital expenditure is unsustainable in law in as much as such expenditure are revenue in nature and hence allowable....

CBDT notifies National Farmers Welfare Program Implementation Society: section 10(46)

Notification No. 85/2023-Income Tax, [S.O. 4282(E).] 29/09/2023

CBDT's recent notification (No. 85/2023) outlines tax exemption for the 'National Farmers Welfare Program Implementation Society.' Discover the income sources covered and conditions here....

Latest Income Tax News

Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.

Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.

Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars.

At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.

Find all the latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning work plan. We keep updating our portal regularly so that you don’t miss out on anything.