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 : Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, rega...
Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...
Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Tribunal observed that even in ex parte proceedings, the CIT(A) must adjudicate issues through a speaking order. The matter wa...
Income Tax : The ITAT Delhi held that no notional rent could be charged for the period during which unsold commercial units remained stock-in-t...
Income Tax : Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). T...
Income Tax : Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE withou...
Income Tax : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Understand TDS on Rent and TDS on Commission with this comprehensive summary. Learn about the provisions, rates, and thresholds for deducting TDS on these payments.
Exemptions from tax, also known as non-taxable income, refer to the income that is not subject to income tax. This income may be exempt from tax for a variety of reasons, such as being below a certain threshold or being earned through certain sources. In this article, we will delve deeper into the concept of non-taxable income and the types of income that are exempt from tax.
Discover the details of Corporate Tax in the United Arab Emirates (UAE) under Federal Decree-Law No. (47) of 2022. Learn about its impact on businesses, tax rates, and compliance for UAE companies and foreign entities operating in the region. Stay informed about the latest developments in the UAE’s Corporate Tax landscape.
Residence and tax liability are two concepts that are intrinsically linked in the world of taxation. As a resident of a country, you are generally liable to pay taxes on your worldwide income, while non-residents are typically only required to pay taxes on the income they earn within that country’s borders. In this article, we will delve deeper into the concept of residence and how it affects your tax liability.
Understand the taxation of Long Term Capital Gains (LTCG) on the sale of listed equity shares or units of equity-oriented mutual funds under Section 112A of the Income Tax Act, 1961. Explore the tax rate of 10%, exemptions up to Rs 1,00,000, and the calculation of the cost of acquisition. Learn about the basic exemption limit benefit, treatment of deductions and investments, and the rebate on tax for residents earning total income up to Rs 5,00,000. Note that this information is for informational purposes and not solicitation.
ITAT Raipur held that there is no bar on an individual to join a partnership firm in his representative capacity of a firm being represented by him. In short, partnership firm can be formed by partners represented by their respective firms.
Explore the computation of profits and gains of business on a presumptive basis under Section 44AD of the Income Tax Act, 1961. Understand the eligible criteria, conditions for presuming business profit at 6%, and the types of businesses that qualify. Know who is an eligible assessee, what constitutes an eligible business, and the provisions for continuity. Learn about the exceptions, implications of discontinuation, and the documentation and auditing requirements for eligible assesses.
It has been proposed that investments in mutual funds on or after 01/04/2023 where not more than 35% is invested in equity shares of an domestic companies (i.e. debt funds, international funds and gold funds) will now be deemed to be short term capital gains like Market Linked Debentures i.e. it will be liable to be taxed as per slab rate.
ITAT Delhi held that unless there was specific material collected to rebut the submissions of assessee then merely on basis of inference from the circumstances, the purchase could not have been held to be bogus.
Bombay High Court held that only reason for re-assessment proceedings under section 148 of the Income Tax Act is adoption of different opinion on the question of valuation as against the one adopted by petitioner. Accordingly, such re-assessment proceedings is liable to be quashed and set aside.
