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...
Add. CIT Vs Ircon International Ltd (ITAT Delhi) When we examine the reasons recorded by the Assessing Officer in the instant case in the light of the decision of the Hon’ble Delhi High Court in the case of Madhukar Khosla (supra), it is evident that the Assessing Officer has merely perused the records available with […]
Assesse was under a bonafide belief that cash medical benefit were only reimbursement of the expenditure incurred by the employees, and as such they could not form part of their income, therefore, no tax could be recovered from the employer on account of short deduction of tax at source under section 192(1), if a bona fide estimate of salary taxable in the hands of the employee was made by the employer.
In this article I wish to give some suggestions to the Finance Minister to make the taxation of capital gain more rational by removing some anomalies. Here are my suggestions. Rebate available under Section 87 A for capital gains Section 87 A allows a resident Individual a tax rebate tax upto Rs. 12,500/- if his […]
The Income Tax Department carried out search and survey operations on 19.01.2021 in Jaipur on three groups, involving one jeweller and two real-estate colonizers and developers. Co-ordinated search operation was conducted at 20 premises and survey was conducted at 11 premises.
The Income Tax Department carried out search and survey operations on 12.01.2021 in the cases of leading builders located in Borivali-Mira Road-Bhayander Area of Thane.
According to Section 37 of the Income Tax Act, 1961, any expenditure not being the expenditure allowed under Sections 30 to 36 and not of capital or personal nature and which are expended exclusively for the purposes of the business or profession are allowed while computing the income from business or profession. Conditions laid out […]
1. A taxpayer may have received an e-mail informing that his return has been processed and the refund amount will be credited to the pre-validated bank account. He must be wondering even after so many days why the amount has not been reflected in his account. 2. The Income Tax department has initiated a new […]
Deduction available towards expenditure on specified business under section 35AD of the Income Tax Act is briefly explained in the current article. Article explains Provisions of section 35AD of the Income Tax Act, Conditions for claiming deduction under section 35AD, Amount of deduction available under section 35AD and List of specified business covered under section […]
Lack of declaration in Form No.10 regarding specific purpose for which funds were being accumulated by the assessee trust would not be fatal to the exemption claimed u/s.11(2) of the Act.
Sumeru Enterprises Vs ITO (ITAT Jaipur) It is the case of the assessee that it had cancelled the allotment of certain flats in its commercial complex as the allottees/debtors refused to pay the outstanding amount towards the interest, complex maintenance charges and electric installation charges and the same were reversed and written off in respective […]
