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 : ITAT Pune remands Dnyanagan Education Society's case for fresh consideration after the rejection of its Section 12AB registration ...
Income Tax : ITAT Ahmedabad held that fresh assessment is necessary in case of taxability of interest earned from Fixed Deposit from compensati...
Income Tax : Delhi High Court held that Section 260A of the Income Tax Act refrains from incorporating a specific provision permitting the fili...
Income Tax : In the present case, recovery or repayment of fraudulent income does not qualify as an allowable expense. Allowing deductions for ...
Income Tax : ITAT Ahmedabad held that as per the provisions of Section 167B of the Income Tax Act, Maximum Marginal Rate (MMR) is applicable on...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
Income Tax : Income Tax offices across India will remain open on March 29-31, 2025, for pending work, as per CBDT order under Section 119 of th...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Corporate India today serves global needs and brings in overseas income which is chargeable to Indian tax net as a resident of India. Flip side of this paves way for claim for taxes paid at foreign jurisdiction based on the source of income.
Avoid the fatal consequences of non-compliance with ITR-V form. Learn the three important steps for individual/HUF taxpayers to complete their income tax return.
Order under section 138(1)(a) of the Income-tax Act, 1961 for sharing of Information between CBDT and FIU-IND for effective processing of Cash Transaction Reports F.No.225/349/2019/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 16th July,2020 Order under section 138(1)(a) of the Income-tax Act,1961 In exercise of […]
Problem in software issue in allowing Full and proper interest allowable u/s 244-A of Income TAx Act, 1961 while processing Income Tax returns for AY 2019-20
In its notification on July 13, the Income Tax Department has allowed one-time relaxation to the taxpayers for such one- time relaxation for the taxpayers under the verification of tax-returns that are pending due to non-filling of the Form ITR-V. The relaxations have been given those pending due to the non-filling of the form of ITR-V Form and […]
In January 2020 the CBDT has notified the amendment to Rule 12 and new ITR Forms (ITR 1 and ITR 4) for the assessment year 2020-21. The amended Rule 12 provided that ITR-1 cannot be used by a person falling under the two categories, namely person who owns a house property in joint-ownership and another […]
Recently there has been changes brought up in Section 194N of Income Tax Act,1961 which is for TDS applicability on cash withdrawal. Section 194N for TDS on cash withdrawals exceeding the threshold limit was introduced in the Finance Budget 2019 to discourage cash transactions and promote digital payments. Upto 30.06.2020, banks (private or public sector), […]
The matter of whether Form 15CB is required for making payments to the Indian Bank account of a non-resident / foreign company is a grey area in the Income-tax law. Various entities have not been filing Form 15CA / 15CB while making payments to Indian Bank account of non-residents / foreign companies, since paying bank does not insist on the same while other entities are regularly filing Form 15CA / 15CB while making payment to a non-resident / foreign companies in their Indian bank accounts.
Understanding the mandatory filing of ITR for high-value transactions. Even if your income is below the taxable limit, learn about the new provision and its implications.
Return of Income Sec 139 (1) of the Income Tax Act, 1961 This Section provides the compulsory return filing, on or before the due date, for the following category of person:- ♣ Every Company OR a partnership Firm (PF) OR a Limited Liability Partnership Firm (LLP). As per 3rd Proviso, they have to mandatory file […]
