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 : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
The High Court held that reinsurance premiums paid to non-residents are not taxable in India and no TDS is required. It upheld Tribunal findings and rejected Revenue’s challenge across multiple years.
The Supreme Court rejected the appeal due to unexplained delay and upheld the finding that the reassessment notice was time-barred. The key takeaway is strict adherence to limitation timelines.
The Court held that reassessment cannot be initiated after expiry of the limitation period under the old regime. The notice issued after six years was declared invalid.
The Court dismissed the appeal after finding that all issues were already settled by earlier rulings. It held that no new question of law arose and affirmed the Tribunal’s order.
Orissa High Court held that assessment order set aside as proceedings under section 148 of the Income Tax Act initiated without serving of statutory notice. Accordingly, matter remitted back to AO to serve notice u/s. 148 as not hit by limitation u/s. 149.
ITAT Mumbai held that rejection of registration under section 12AB of the Income Tax Act treating receipts and income from sale of agro and Gaushala products as commercial without examining the receipts being incidental and ancillary is not justifiable. Accordingly, matter restored to file of CIT(E).
The provision grants full deduction of profits for eligible start-ups for three years. The key takeaway is that structured conditions must be met to claim the benefit.
ITAT confirmed validity of reassessment based on cash deposit information. However, it reduced addition by applying peak credit theory due to withdrawal patterns
ITAT held that failure to record how seized material impacts taxable income invalidates proceedings. All assessments were quashed due to defective satisfaction note.
The Court quashed the Section 148A(d) order for not aligning with binding Supreme Court decisions. It directed fresh adjudication following the principles laid down in earlier rulings.
