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 Tribunal held that reopening completed scrutiny assessments beyond four years is invalid when reasons do not allege failure to disclose material facts. The key takeaway is that Section 147’s first proviso is mandatory and cannot be bypassed.
The Tribunal held that reassessment notices issued by the jurisdictional officer violated the mandatory faceless regime under Sections 144B and 151A. Non-compliance with the prescribed faceless procedure renders the entire reassessment void ab initio.
The Court found that the explanation regarding dividend income was on record but not examined. Reopening based on an incorrect recording of facts was held to be invalid.
High Court quashed the adjustment made in the intimation under Section 143(1) disallowing deduction under Section 10B and declared the rectification order to be null and void as allowability of deduction under Section 10B was examined during regular assessment proceedings and accepted
The Tribunal ruled that professional consultancy services rendered by a UAE resident are protected under Article 14 of the India–UAE DTAA. In absence of a fixed base or sufficient stay in India, exclusive taxing rights rest with the UAE.
The Supreme Court dismissed the Revenue’s appeal due to unexplained delay. This left intact the High Court ruling quashing reassessment based on a rejected share valuation.
The judgment reiterates that valuation must comply with statutory rules and cannot hinge on a single third-party transaction. Reassessment contrary to this principle was quashed.
The Tribunal ruled that non-filing of Form 10B is a curable defect and cannot justify denial of exemption during processing. Section 143(1) cannot be used to decide debatable exemption issues.
The new legislation restructures and simplifies income-tax provisions without altering tax rates. It aims to improve ease of compliance and legal clarity.
The issue was whether a DRP-based assessment passed after the statutory period survives. The Tribunal held the delay fatal and quashed the assessment in entirety.
