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 : Explore the major amendments in Finance Act, 2025 compared to 2024, covering Income-tax Act changes, compliance updates, tax refor...
Income Tax : A structured comparison of the Income-tax Bill 2025 and Finance Act 2025, covering key provisions, objectives, and changes in tax ...
Income Tax : In this article author analyses main changes made in Finance Bill 2025 as passed by Lok Sabha, along with it’s analysis....
Income Tax : Discover the highlights of the Form 3CD amendments effective April 1, 2025, including new clauses for cruise ships and MSMEs....
Income Tax : Mumbai ITAT rules co-ownership doesn’t imply tax liability. Sale proceeds taxed only for the beneficial owner, not co-owner in V...
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 Delhi rules in favor of Schenker India, allowing CSR donations under Section 80G despite mandatory nature. Read key takeaways...
Income Tax : Delhi High Court held that relaxation of conditions prescribed under rule 9C of the Income Tax Rules is discretionary power and is...
Income Tax : ITAT Mumbai quashes Sec 263 revision in Narayan Rane's case. Holds AO took plausible view, order not erroneous & prejudicial despi...
Income Tax : Bombay High Court dismisses revenue appeal, upholds ITAT ruling on assessment of CD marketing rights expenditure....
Income Tax : Delhi High Court clarifies in Anindita Sengupta case that SC's Ashish Agarwal judgment doesn't mandate reopening concluded income...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
In this article we will be discussing about the precautions to be take care while entering into a real estate transaction. Let us understand this article in the form of short story; There are two brothers namely Pushp kumar sahu and Uday kumar sahu who have entered into a transaction of immovable property worth 48 […]
रिटर्न्स फाइल कर देने के बाद इनकम टैक्स डिपार्टमेंट की ओर से आपको नोटिस मिल सकता है। ऐसे में घबराने की बिल्कुल जरूरत नहीं है। आपको इनकम टैक्स ऐक्ट के जिस सेक्शन के तहत नोटिस मिला हो, उसके मुताबिक ही जवाब तैयार करें। इस काम में हम आपकी मदद कर रहे हैं। इनकम टैक्स ऐक्ट […]
In the matter f Issue of Share at High Premium AO should not resort to rely on circumstantial evidence or on test of human probabilities but on factual evidence of passing of benefit to the shareholders/directors. Hence ITAT remanded the matter back to AO to re-assess whether the assessee was used as a vehicle to pass on the benefit to the shareholder / director.
Assessee is eligible for exemption u/s 54F for the amount invested beyond the prescribed period but before getting the property registered since there was sufficient reason, beyond the control of the assessee, which prevented the assessee from making investment within prescribed time.
Loss on sale of shares held as investment in subsidiary companies is a revenue loss as when holding company invests amounts for business of its subsidiary, it must be held for business expediency.
As per Article 265 of the Constitution of India ‘No tax shall be levied or collected except by authority of law’. In any civilized system, the assessee is bound to pay the tax to the government for which he is liable under the law. The Government on the other hand is obliged to collect only that amount of tax which is legally payable by an assessee.
♣ AMP refers to Advertisement, Marketing and Promotion Expenses.♣ AMP Expenses are usually incurred by the company in for increasing the revenue of the company and enhancing the value of the companies brand value.
Assessee was not liable for penalty under section 271D and 271E for availing cash loans/deposits in violation of section 269SS and 269T as it had availed the facility in order to re-establish itself, and for fulfilment of promises given for the purpose of BIFR which was a reasonable cause foe not levying penalty.
Foreign travelling expenditure incurred by law firm for the pleasure tour by the counsels and their family members was not in relation to any business activity of assessee-firm, therefore, the same was not allowable
Navas M. Meeran Vs ACIT (ITAT Cochin) Conclusion: Lease rent received by assessee by letting out the industrial undertaking was not having any direct connection with the manufacture or production of an article or thing by assessee and the same could not be considered as business income eligible for deduction u/s. 80IB. Held: Assessee had […]
