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 : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
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 : 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 Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
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...
ITO Vs Shri Udaykumar D. Bhatt (ITAT Ahmedabad) Section 271(1)(c) cast responsibility upon the AO to reach the clear finding with respect to levy of penalty under the specific charge and if the AO fails to do so then the penalty cannot be levied as such penalty order shall not be maintainable in the eyes […]
Taxability of Compensation and interest on compensation received from Govt or Insurance companies Generally compensation is paid by insurance company or Govt on account of any damage to property or human being on an accident or similar incidents. Example of compensation paid by Govt: On compulsory acquisition of land for development of infrastructure or other […]
ACIT Vs Krishan Lal Madhok (ITAT Delhi) A.C.I.T. on the basis of information received from the Government of France under the Double Taxation Avoidance Convention wrongfully assumed that Shri Krishan Lal Madhok was earning an interest at the rate of 4% from his foreign Swiss Bank account, thereby included the same in his income while […]
Taxation Laws (Amendment) Bill, 2021 is introduced in Lok Sabha on 05th August 2021. Bill is further to amend the Income-tax Act, 1961 and the Finance Act, 2012. Bill will benefit Vodafone, Cairn UK who are having capital Gain Tax Disputes. The Bill proposes to amend the Income-tax Act, 1961 so as to provide that […]
Transportation Revenue Vis-A-Vis Sections 44AA, 44AB, 44AD AND 44AE of The Income Tax Act, 1961- A Critical Analysis In this Article, the Author has made an attempt to analyse the provisions of Section 44AA, Section 44AB, Section 44AD and Section 44AE of the Income Tax Act, 1961 in the context of requirements and applicability of […]
Stay informed about the due dates for tax return filing and payment of SA-Tax. Find out how taxpayers are being pushed to the wall with this new tax regulation.
Eko India Financial Services Private Limited Vs ACIT (Delhi High Court) Against an assessment of AY 2017-18 the petitioner assessee filed an appeal u/s 246A of the Income Tax Act, 1961. AO adjusted the entire refund of the assessee pertaining to AY 2019-20 against such demand, which was more than 20% of such demand. Hon’ble […]
Understanding the exceptions to deemed dividend provisions under the Income-tax Act. Learn about the ordinary course of business and substantial part of business.
Nandi Steels Limited Vs ACIT (Karnataka High Court) Facts of the case: In the present case, the assessee is a limited company carrying on the business of manufacture of iron and steel. During the year under consideration, it had earned income from sale of land, building and bore well used for its business purposes. The […]
The present article covers interest provisions as prescribed under section 234B of the Income Tax Act. Notably, section 234B is applicable when the taxpayer defaults in payment of advance tax. Advance tax vis-à-vis interest payable thereon- In terms of section 208, the taxpayer is liable to pay advance tax during the financial year in which […]
