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 Tribunal ruled that audited books and quantitative reconciliation supported the genuineness of agricultural commodity purchase...
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 : 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...
The Supreme Court on Thursday said the daughters of a male Hindu dying without a will would be entitled to inherit self-acquired and other properties obtained in the partition by the father.
The Income-tax department requires companies to submit a statement of Specified Financial Transactions (SFT). SFT reporting is mandatory for certain reporting entities from Finance Act 2014 by introducing section 285BA followed by additions made in Finance Act 2020 through notification no. 16/2021, dated 12-03-2021. This article focuses on SFT reporting which is applicable to the companies and documents require for reporting such transactions.
Vide Notification No. 10/2022 – Income Tax | Dated: 21st January, 2022 CBDT notifies Tax Exemption to National Skill Development Corporation, a body constituted by Central Government, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 10/2022-Income […]
PCIT (Central) Vs Agson Global Pvt. Ltd. (Delhi High Court) 1. Dismissing a bunch of appeals against deletion of addition u/s 68 towards Share capital/ share premium, bogus purchases and deposit in bank account, the Hon’ble Delhi High Court vide judgment delivered on 19.01.2022 (yesterday) has held that where the ITAT decided the matter based […]
Southern Gujarat Income Tax Bar Association Vs Union of India (Gujarat High Court) In today’s hearing through Video Conference, Mr. Y.K. Singh, DGIT (Systems) and Mr. Krishnamurthy, Additional Director General of Income Tax, also joined in the discussion. We had the advantage of hearing Mr. Singh as well as Mr. Krishnamurthy. Mr. Singh and Mr. […]
Reassessment notice was quashed with liberty to AO concerned to initiate fresh re-assessment proceedings in accordance with the relevant provisions of the Act as amended by Finance Act, 2021 and after making compliance of the formalities as required by the law.
The Developed countries provide for Social Security for it’s Citizens. The citizens who spend their whole life in the service of the country & the society after long hard work do need Social Security. In our country, those in Government & Semi Government jobs get social security through various Government schemes while in service and […]
Tax Bar Association Vs Union of India (Rajasthan High Court, Jodhpur) This public interest petition has been filed by the Tax Bar Association of Jodhpur pointing out various difficulties faced by the assessees on account of the official portal of the income tax department having various glitches. The first and the primary prayer made by […]
Employees’ State Insurance Corporation Vs Union of India (Supreme Court of India) Facts- The ESIC has filed the present appeal against the judgement of Division Bench which rejected the petition filed against the promotion of the contesting respondent to the post of ‘Associate Professor’ under the Dynamic Assured Career Progression Scheme (DACP Scheme). Fact of […]
Cryptocurrency is a virtual currency based on blockchain technology, which enables a peer to peer network without the intervention of a centralized agency. Cryptocurrency gained popularity with the introduction of Bitcoin by a programmer under the name Satoshi Nakatomo. Bitcoin gained significance in light of the collapse of the financial system which culminated in the Great Recession.
