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 : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...
Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...
Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
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...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
In view of spread of Novel Corona Virus (COVID-19) and challenges faced by taxpayers in meeting the compliance requirements under various provisions of income tax act the following measures have been taken by the Govt. Tax related measures announced by FM on 13th May 2020 1. Reduction in Rates of Tax Deduction at Source (TDS) […]
The issue under consideration is whether extra realization made in rupees for export sale proceeds in foreign exchange due to adverse exchange rate of rupee would be part of the export turnover in the year of receipt and qualify it for deduction u/s Section 80-HHC ?
Article contains updated TCS Rate Chart for For Assessment year 2020-21 (Financial year 2019-20) and Assessment year 2021-22 (Financial year 2020-21) updated with latest changes made by press release dated 13th May, 2020 and Finance Act, 2020. It further explains newly inserted TCS Provisions of Section 206C(1G)(a) – TCS on foreign remittance through Liberalised Remittance […]
Q 1. Why this post? Ans: Economic package announcements have been made by the Finance Minister of India by addressing a press conference on May, 13th 2020 in relation to Direct taxation amongst others. Thus this post is to analyse those aspects and specially with respect to TDS provisions. Q 2. What are the key […]
Article explains Taxation of Online Advertisement Prior to Equalisation Levy, Introduction of Equalisation levy at 6 % for online Advertisement, Exception to Equalisation levy on Online Advertisement, Equalization levy at 2% on E- Commerce Transaction, Exception to Equalisation levy on Ecommerce transaction, Exemption under Income Tax Act for Transaction subject to equalisation levy and TDS […]
ANALYSIS OF SUPREME COURT CASE BASIR AHMED SISODIA V. ITO. CIVIL APPEAL NO. 6110 OF 2009 dated 24th April 2020. The referred judgment of Supreme Court is one of its kind wherein the deletion of penalty has led to deletion of quantum addition. The important facet their lordships observed was fundamental tenet of taxation that […]
TDS Rate Chart For Assessment year 2021-22 /Financial Year 2020-21 As we all are aware that yesterday our Honourable Finance Minister has conducted press release. In that press release she declared that The TDS rates for all non-salaried payment to residents, and tax collected at source rate will be reduced by 25 percent of the […]
When the company got back its funds on the same day, it cannot fall into the definition of the deemed dividend.
In this article, we have tried to explain the difficulties or challenges that tax officials or taxpayers are facing in the current crises. Article explains Residential status of Internationally Mobile Employees, Residential Status of companies (Place of Effective Management), Risk of creation of Service Permanent Establishment (PE), Extension of statutory filing due dates and Transfer pricing Implication
Ministry of Finance Reduction in rate of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS) Posted On: 13 MAY 2020 In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates of Tax Deduction at Source (TDS) for […]
