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 : Learn about Section 87A rebate applicability on short-term capital gains under the new tax regime for FY 2023-25. Explore legal ch...
Income Tax : Explore the Principal Purpose Test (PPT) in international tax law, its impact on treaty benefits, legal uncertainty, and potential...
Income Tax : Budget 2025 introduces tax reliefs, higher TDS thresholds, and urban housing reforms, impacting real estate growth while raising c...
Income Tax : Income tax updates effective 1st April 2025 include higher TDS thresholds, extended startup benefits, increased rebates, and simpl...
Income Tax : Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the I...
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 Jaipur quashes PCIT order revising assessment of Auro Iron, citing insufficient inquiry and overreach on reassessment grounds...
Income Tax : ITAT Jaipur held that assessee just needs to establish that the amount has come from the bank account of the cash-creditors. Asses...
Income Tax : ITAT Kolkata held that issuance of notice under section 143(2) of the Income Tax Act by non-jurisdictional Assessing Officer rende...
Income Tax : Gujarat High Court held that refund entitled to assessee on the basis of order passed by CIT(A) cannot be unjustifiably adjusted a...
Income Tax : Bombay High Court dismisses revenue's appeal in PCIT Vs Umesh Ishrani case, citing lack of corroboration for loose paper evidence ...
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...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Shri Rajasugumar Subramani Vs ITO (ITAT Bangalore) Provision in section 54F comes w.e.f. 01.04.2015 according to which it was clarified that the residential house is to be acquired only in India meaning thereby before this amendment it was not clear as to whether the benefit of section 54F can be given to residential house acquired […]
It has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions.
This Article explains how to save tax in a private limited company. It explains various legally permissible ways in which you end up saving a lot of income tax. Company is an artificial person created by law. it is clothed with many rights, obligations, powers and duties prescribed by law. What is a Private limited […]
e-Assessment – Electronic assessment, also known as e-assessment, online assessment, computer assisted/mediated assessment and computer-based assessment, is the use of information technology in various forms of assessment. Electronic assessment under Income Tax have certain Advantages and Disadvantages. Advantages of Electronic assessment under Income Tax includes Faceless assessment reduces chances of corruption, Saves time and efforts, […]
The Income Tax department has notified the Income tax Return (ITR) Forms for F.Y. 2019-20 on January 3, 2020. Here’s a list of the 6 key changes introduced in the ITR1 for financial year 2019-20. ♦ Passport details In this year’s ITR-1, taxpayers will have to provide their passport number (if they have one). This […]
The income tax department in its grapple to make GST regime an ideal tax mechanism has launched many reforms like single indirect tax mechanism, completely faceless/digital tax compliance, simple TDS deduction system, and a lot more. Apart from that, if any inconvenience in tax compliance is witnessed by the government then due dates for the […]
The Central Board of Direct Taxes (CBDT) has recently notified two Income Tax Return (ITR) forms for the assessment year 2020-21. Usually, the tax department issues new ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old tradition, it has notified two ITR forms ITR-1 and […]
CIT Vs Endeka Ceramics (India) Pvt. Ltd. (Karnataka High Court) Admittedly in the instant case, the industrial undertaking of the appellant-assessee is not located in the Industrial Backward District, which has been mentioned in the Notification issued by the Central Government. It is pertinent to note here that the first Notification was issued by the […]
During the past year 2019, CPC (TDS) released a host of useful utilities at TRACES, including the following- 1. DIN Verification Functionality on TRACES Homepage wherein taxpayer can verify communication received from the department. 2. Aadhar based authentication in CPC (TDS) as additional authentication mode for TRACES users. 3. Form 16 – Part B generation […]
Stay updated with the latest income tax changes for December 2019. Learn about Form No. 10DA and claiming deductions under section 80JJAA.
