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...
Clause 4 of Taxation Laws (Amendment) Bill, 2019 seeks to insert new sections 115BAA and 115BAB in the Income tax Act relating to tax on income of certain domestic companies and tax on income of new manufacturing domestic companies.
Services rendered by foreign concern for introducing a client did not make-available any technical knowledge, experience, skill, know-how or processes to assessee, therefore, related payment did not fall within the realm of “Fees for included services” as envisaged in Article 12 of the Indo-US, DTAA and payment made to foreign concern constituted its business profits within the meaning of Article 7 Indo-USA DTAA, and in the absence of any Permanent Establishment of the said foreign concern in India no taxability arose and, therefore, assessee was not liable to withhold tax under section 195.
Assessee in instant case had purchased three properties on three different dates. This indicated that assessee had purchased the land on piece meal basis. Since value mentioned in each sale deed was less than Rs. 50 lakhs, therefore, section 194-IA would not be applicable to assessee merely because the seller and Khasra number of the three properties was same.
Consideration of 14 flats for giving up related rights in favour of developer was received by assessee within a period of three years from the date of JDA. In such circumstances, concerned flats assumed the character of ‘short-term’ capital asset and gain on such transfer was rightly assessed by AO as STCG.
Ld. CIT acted mechanically in order to discharge his statutory obligation when he merely wrote on the format Yes, I am satisfied. In the case in hand, the Id. CIT has even not written any affirmative sentence or word but has just signed against the column which was pre-typed Yes.
Prohibition imposed by Indian Medical Council against acceptance of gift was on medical practitioner/doctor, and not on pharmaceutical companies, therefore, where assessee incurred expenditure towards gifts, which were bearing logo and name of the assessee, the expenditure were only for sales promotion, therefore, disallowance made by AO in respect of the expenditure was unjustified.
Assessments made in the name of dead person cannot be held to be non-est merely because the procedural requirements of taking on record the legal representative are not complied with. The Assessing Authority is not expected to have knowledge of the fact of the death of Assessee when he passed the orders and therefore, there is an obligation on the legal representative to bring such fact to the notice of the Assessing Authority.
Rojer Mathew Vs South Indian Bank Ltd. & Ors. (Supreme Court) 1. Leave granted. BRIEF BACKGROUND: 2. In the present batch of cases, the constitutionality of Part XIV of the Finance Act, 2017 and of the rules framed in consonance has been assailed. While it would be repetitious to reproduce the pleadings of each case […]
Samsir Uddin Vs State of Assam (Gauhati High Court) In the instant case, the documents made available on record so far as it relates to violation of the provisions of the AGST Act are not being relied upon by the respondents to indicate any such violation of the provisions of the AGST Act. What is […]
If at the time of giving the donation to the research Institute it had a valid registration granted under the Act, subsequent withdrawal of such approval with retrospective effect would not be a reason to deny deduction claimed by the donor under under section 35(1)(ii) for Scientific research expenditure.
