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...
If you want to sell your house property there are certain income tax implications that will help you to save your tax and help to build a better decision about selling your house. 1. If a property is sold within three years of buying it, any profit from the transaction is treated as a short-term […]
This is my 1st article and I covered very interesting topic ‘Old Vs New Tax regime‘ because after becoming Chartered accountant my relatives and friends ask which tax regime they should choose. Here we covered the following points – 1. Applicability 2. Tax Rate Structure 3. Exemptions & Deductions 4. Other Points 1. Applicability :- […]
Case Analysis on Cairn v. India: International Commercial Arbitration with special reference to United Kingdom-India Bilateral Investment Treaty Background On January 20th 2012, the Supreme Court of India gave its verdict in the Vodafone case. The case was regarding tax invasion in regards to capital gains in lieu of sale of shares. The court held […]
The Central Government introduced the Faceless Assessment Scheme to provide greater transparency, efficiency and accountability in Income Tax assessments. All provisions introduced under Faceless Assessment, under the Income Tax Act, 1961, are introduced to- (a) Eliminate the interface between the Assessing Officer and the assessee during the course of proceedings, to the extent that is […]
ACIT Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (Supreme Court) Assessment order or an intimation u/s 143(1) of the Income tax Act , 1961 as it stood prior to amendment wef 1.4.1989 and thereafter and further amendments made . A broad analysis has been extracted from the judgement of the Hon’ble Supreme Court of India […]
Tax compliance season for Income Tax Return filing of A.Y. 2021-22 is on the way and thus, it is pertinent to note key amendments made in the Finance Act, 2021 which are applicable with effect from Assessment Year 2021-22. We have discussed some key amendments introduced in the Finance Act, 2021 in this article; which […]
Messrs Mehta Parikh & Co vs The Commissioner Of Income-Tax, Bombay (Supreme Court of India), Date Of Judgment: 10/05/1956, Equivalent citations: 1956 AIR 554, 1956 SCR 626 Bench: Natwarlal H. Bhagwati | Sudhi Ranjan Das (CJ) | T.L. Venkatarama Aiyyar Income-tax-Income from undisclosed sources-Assessment. Assessee’s explanation based on accounts supported by affidavits Accounts accepted as […]
The concept of TDS was introduced with an aim to collect tax from the very source of income. Currently there are 36 provisions in the Income Tax Act which require TDS deductions from various payments. There is a recent insertion of section 194Q vide Finance Act 2021. With introduction of Section 194P and 194Q, there […]
Cash Deposit Out of Cash Sales treated as Undisclosed Income Under Section 68 & 69A of Income Tax Act, 1961 On the night of 8th November 2016 the honorable Prime Minister of India announced that Rs. 500.00 and Rs. 1000.00 notes will no longer be legal tender. No fresh transaction could be done using these […]
The Tribunal has jurisdiction to examine a question of law which arises from the facts as found by the authorities below .and having a bearing on the tax liability of the assessee . Where the tribunal is only required to consider a question of law arising from the facts ,we fail to see why such […]
