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 introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Principal Chief Commissioner of Income Tax, (UP), East, Lucknow hereby notify that the following jurisdictional Principal Commissioner of Income Tax/ Commissioner of Income Tax as specified in column (2), having their headquarters at the place specified in the corresponding entries in column (4) shall be the ‘designated authorities’ under the Direct Tax Vivad Se Vishwas Act, 2020
e-TDS/TCS Return Preparation Utility Ver. 3.1 for Regular & Correction quarterly e-TDS/TCS statements from FY 2007-08 Key Features – Return Preparation Utility (RPU) version 3.1 1. Addition of new column in Form 26Q & 27Q New column “Amount of cash withdrawal in excess of Rs. 1 crore as referred to in section 194N” is added […]
After Assent by President of of Direct Tax Vivad se Vishwas Act, 2020, CBDT notifies Direct Tax Vivad Se Vishwas Rules 2020 alongwith Relevant Forms which includes Form 1 to Form 5. vide Notification No. 18/2020-Income Tax Dated 18th Mach, 2020. Also Read- Corrigendum to Form-3 of Direct Tax Vivad se Vishwas Rules, 2020 MINISTRY […]
One-time Relaxation to those Employers who did not file ESI contribution for the contribution period April, 2019 to September, 2019 within 42 days.
Section 68 had no application when the shares were allotted by the assessee-company under a barter system as the respective parties did not receive cash nor did pay any cash, there was no real credit of cash in the cash book and the question of inclusion of the amount of the entry as unexplained cash credit could not arise.
CIT (A) upheld the reopening of the assessment by recording the reasons on incorrect facts. Hence in the facts and circumstances of the case, we find that the reopening of the assessment by the AO is without application of mind and simply going by the information received as per AIR Data. Hence the reopening of the assessment is quashed being invalid.
NEWS DIRECT TAX 1. CBDT notify the rules for making permanent account number inoperative. [Ref: Notification No.11/2020/F.No. 370149/166/2019-TPL] 2. Procedure of PAN allotment through Common Application Form (CAF) along with registration of Foreign Portfolio Investors (FPIs) with SEBl under Department of Economic Affairs and KYC for opening Bank and Demat Account. [Ref: Notification No.11/2020/F.No. Pr. […]
Salary is the remuneration received by or accruing to an individual, periodically, for service rendered as a result of an express or implied contract. The actual receipt of salary in the previous year is not material as far as its taxability is concerned. The existence of employer-employee relationship is the sine-qua¬non for taxing a particular receipt under the head salaries.
Agricultural income is exempt from Income Tax under section 10(1) of the Income Tax Act, 1961. However, its included, for rate purposes, in computing the Income Tax Liability if following two conditions are cumulatively satisfied: Net Agricultural income exceeds INR 5,000/- for P.Y. 2014-15, and Total income, excluding net Agricultural income, exceeds INR 2,50,000/-.
Article explains How to Download TRACES PDF Generation Utility, Procedure to install TRACES PDF Generation Utility and Procedure to convert text file into PDF. Article also provides link from where such Utilities can be downloaded. Article explains how TRACES PDF Generation Utility should be used to convert text file for Form 16 / 16A into […]
