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 case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...
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 Delhi ITAT held that additions made on transactions unrelated to the reasons recorded for reopening were beyond the Assessing ...
Income Tax : The ITAT Chandigarh held that once registration under Section 12AB had been directed to be granted, the primary basis for rejectin...
Income Tax : The Delhi ITAT found that the Assessing Officer lacked legal authority to reopen assessment years lying outside the ten-year block...
Income Tax : ITAT Chennai restored the matter to the Assessing Officer after finding that the assessment and appellate proceedings were conclud...
Income Tax : ITAT Kolkata upheld the deletion of disallowance relating to brought forward losses of an amalgamating company after finding that ...
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...
Income Tax Department conducts searches in Mumbai The Income Tax Department carried out a search and seizure operation on 28.07.2022 on an ex-fund manager and chief trader of equities of a prominent mutual fund house along with related sharebrokers, middlemen and entry operators. The search action covered more than 25 premises, spread across Mumbai, Ahmedabad, […]
Understanding the retrospective and prospective application of amendment in Section 14A of the Income-tax Act.
Notices, Orders, Reports etc. Issued by Income Tax Department on or After 1st Oct,2019 without mentioning Computer Generated DIN are Invalid
Bharatkumar Somabhai Patel Vs ITO (ITAT Ahmedabad) The assessee is in appeal before us filing the above appeal with a delay of 2985 days. Even before this Tribunal, 10 opportunities given to the assessee. The assessee is not responded to the hearing notices. The present Affidavit filed by the assessee is without material on record […]
CBDT notifies sovereign wealth fund, namely, Qatar Holding LLC vide Notification No. 93/2022-Income Tax | Dated: 5th August, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 93/2022-Income Tax | Dated: 5th August, 2022 S.O. 3707(E).—In exercise of powers conferred by sub-clause (vi) of clause (b) of the Explanation […]
CBDT specifies conditions for exemption to money received from employer or other person in Covid cases by family of deceased ide Notification No. 92/2022-Income Tax | Dated: 5th August, 2022. Clause (XIII) of the first proviso to clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 provides that where any sum […]
Held that addition u/s. 68 and 69A unsustainable as evidences relating to cash deposited submitted and not doubted by AO and also books of account of the assessee are also not rejected u/s 145(3).
Clause (XII) of the first proviso of clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 provides that any sum of money received by an individual, from any person, in respect of any expenditure actually incurred by him on his medical treatment or treatment of any member of his family in […]
CBDT specifies Document to be submitted by employee to claim exemption on sum received for COVID-19 treatment vide Notification No. 90/2022-Income Tax, Dated: 05.08.2022 Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification No. 90/2022-Income Tax | Dated: 5th August, 2022 S.O. 3703(E).—In exercise of the powers conferred by sub-clause […]
Held that as per section 21(2) of Deposit, Insurance and Credit Guarantee Corporation of India all the funds realized by Bank under liquidation are diverted at source. Such funds are not available to the assessee as income and hence such income is not taxable in the hands of the assessee.
