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 : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
After much hullabaloo the CBDT has issued the circular of extending due date to 31/10/15. What would have happened if the order was not issued in the first place? 1. Contempt of court petition can be filed for states who have got a writ to their favour. What is the penalty? Imprisonment or fine? Who will be imprisoned? Some scapegoat bureaucrat or say chairman of CBDT.
1) Introduction of Electronic mode of filing Form 15G & 15H (Alternate to Paper Form). No procedural rules has been prescribed as regard to filing of Form 15G. However, It seems Form 15G & 15H can be filed using Internet Banking facility or Similar facility for in case of Other institution which are making payment as provided in Section 197(1) or 197(1A) or 197(1C).
ITAT Chandigarh held In the case of M/s Lotus Integrated Taxpark Ltd. vs. The DCIT that the assessee on the basis of the documentary evidence on record has been able to prove that Non Resident Company i.e. M/s Glacis Investment Limited was an existing company
With regard to the said notice for strike, attention is invited to the instructions issued by the DoPT, which prohibit the Government Servants from participating in any form of strike including mass .casual leave, go-slow etc. or any action that abet any form of strike in violation of Rule 7 of the Fundamental Rules. Pay & Allowances is not admissible to an employee for his absence from duty without any authority.
ITAT Delhi Has held In the case of Piyush Developers Pvt. Ltd. & Others vs. ACIT, that despite search and seizure no adverse material was found to substantiate the disallowance made by the A.O. The purchases which are disallowed relate to cement and steel which are essential for the purpose
ITAT Delhi has held In the case of M/s Chemical Sales and Services vs. ITO that the only condition for claiming deduction under section 36(1 )(iii) is commercial expediency of the expenditure incurred and once the said condition is fulfilled
ITAT Delhi held In the case of ITO vs. Hepta Developers Pvt. Limited that notice u/s 148 is foundation of the reassessment proceeding. The notice was sent on wrong address while the correct address was available in the return filed by the assessee.
DCIT vs. M/s Presidency Exports & Industries Ltd. (ITAT Kolkata) We do agree that in a matter of condonation of delay when there is no negligence or deliberate inaction or lack of bonafide approach, the liberal approach has to be adopted to advance substantial justice. In the fact
ITAT held In the case of Das Plaza vs. ITO that the closing stock has to be taken at the end of the year not in the middle of the year. If any addition has to be made that to be made only difference in the value as at the end of the year.
ITAT held In the case of ACIT vs. Raj Kumar Jalan that in view of the proposition laid down by the Honble Delhi high Court in the case of CIT Vs. Bharat Bhusan Jain and others in ITA No.648/09 and 669/2009 etc order dated 08.01.2015
