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 : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
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 : 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 : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
Notification No. 66/2015 – Income Tax S.O._____ (E). • In exercise of powers conferred by clause (6C) of SeCtiOn 10 of the Income —tax Act, 1961 (43 of 1961), the Central Governmeni hereby specifies that any income arising to Mis Rosoboronexport. the Federal State Unitary. Enterprise, having its registered office at 107076, Moscow, StrOMyTIka Strtxt. 27/3, Russia. by way of royalty or fees for
Notification No. 65/2015 – Income Tax (E)• – exercise of the powers con ferrc„..4 by clause 146) szci ion 10 of the Income-tax Act., 1961 (43 of 1961), the Central Government hereby nolifies for thepurposes of she i f clause, “Telangana Slaw Electsicity Regulatory Commission”, a Commission constituted by the (iovernment of Telangana in respect of the ibllowing
Notification No. 64/2015 – Income Tax Si)………….. (E). – In exercise of the powers conferred by clause (46) of section 10 of the income-tax Act, 1961 (43 of 1962), tic Central Government hereby notifies for the purposes of the said clause, “Karnataka State Rural Livelihood Promotion Society”, a
A careful reading of Section 56(2)(viia) lay down the following essential ingredients for the taxability of unlisted shares received by closely held company or firm or LLP as the case may be: (1). The shares (equity or preference) received, on or after 1-6-2010, are shares of a company in which the public is not substantially interested;
In the present case services were provided by the non-resident individuals so article 15 was applicable but the pre-requisite condition that the each non-resident individual had to be present in India for more than 90 days which was not ascertained.
Delhi High Court has in the case of CIT Vs M/s Bharat Hotels held that If appellant Leasee is having entire control over the building than even though no ownership rights vest him, still he can claim depreciation on the same.
ITAT Delhi has held in the case of Perfect Paradise Emporium Pvt. Ltd vs. ITO that If creditors are found bogus then the amount can be added back to income u/s 68 as unexplained cash credits or us 41(1) as business income.
Claim cannot be denied if sufficient documents are in hand of AO even though the party does not reply to notice issued u/s 133(6); (even though the party confirmation is not available against notice issued u/s 133(6)).
In, the present case the Hon’ble High Court held that the deposit of tax before the initiation of penalty proceedings will not help Assessee in escaping the penalty proceedings u/s 221. Also, the point of Financial hardship, diverse locations and lack of computerization will not give any relief to the assessee.
In the present case the Hon’ble High Court while accepting the Writ filed by the assessee, restored the matter back to the Tribunal by observing that the Judicial Functions should not be performed in the arbitrary manner.
