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 how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...
Income Tax : The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and ...
Income Tax : This article examines conflicting judicial views on whether capital gains exemption is available when a new residential house is p...
Income Tax : This guide explains how Section 43B(h) defers tax deductions where payments to Micro and Small Enterprises remain unpaid beyond th...
Income Tax : The case highlights denial of TDS credit after an incorrect TAN was reported in the income tax return, even though the correct TDS...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : The ITAT Mumbai held that cash deposits during the demonetization period could not be treated as unexplained where the assessee's ...
Income Tax : ITAT Bangalore held that TDS credit cannot be denied merely because it was omitted in the original income tax return. The Tribunal...
Income Tax : ITAT Bangalore held that an assessment order passed in the name of an amalgamated bank after it had ceased to exist is void ab ini...
Income Tax : The Tribunal ruled that filing a return in response to Section 148 does not cure the failure to file the original return within th...
Income Tax : ITAT Bangalore held that Section 154 cannot be invoked to make a fresh disallowance of an asset write-off claim that was never exa...
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...
CBDT has notified new ITR form for AY 2020-21 vide notification No. 31/2020 dated 29.05.2020. This article explains Form ITR-1 Sahaj Applicability and additional disclosure required compared to previous year Form ITR-1. This Form ITR-1 Sahaj can be filed by an individual resident (other than not ordinarily resident) having total income up to Rs. 50 […]
Article explains Major Changes In Income Tax Law for Assessment Year (AY) 2020-21/ Financial Year (FY) 2019-20 and AY 2021-22/FY 2020-21 which includes changes in Tax Rates, TDS Rates, Depreciation Rates, Widening of Scope of Form 26AS, Changes in the provisions related to NRIs, Tax Treatment of Dividends Changed, Fresh Registration of Trust and Educational […]
PCIT Vs Junjab National Bank (Delhi High Court) Merely because additions made by the Assessing Officer have been partially upheld by the CIT (A), would not confer the ground to initiate proceedings under Section 271(1)(c) of the Act of imposition of penalty, unless it is found that there is concealment of material facts, or furnishing […]
The issue under consideration is whether A.O. and CIT is correct in making an addition u/s 69 for cash found during search in bank locker?
Mahle Filter Systems Pvt. Ltd. Vs Add. CIT (ITAT Delhi) The issue under consideration is whether A.O. is correct in treating the ‘rental income’ as ‘income from other sources’? The assessee has disclosed rental receipts from its factory building and after deducting 30% as per provisions of section 24 of the Act, income from house […]
26AS Form in new format under I-Tax Rule 114-I have been notified wef 1.6.2020. Please note all the information in it is auto populated and earlier it was mainly providing information wrt Tax (TDS, TCS, Advance Tax etc) alongwith Gross Income only. But now new 26AS form shall be a complete profile of taxpayer’s financial […]
Abolishment of Dividend Distribution Tax [Advantageous To Multinational Companies (MNCs)] This article is focused on one of the key amendments proposed in union budget 2020 i.e. abolishment of Dividend Distribution Tax. We have analysed here the impact of DDT abolishment on resident as well as overseas shareholders with the help of facts & findings. Presently […]
THIS HRA CALCULATOR GIVES AN IDEA ABOUT – a) How is Exemption u/s 10 (13A) given? b) What are the requirements for claiming deduction u/s 10 (13A) and who is eligible? c) What are the TDS requirements in respect of rent paid? d) Format of Rent Receipt and Declaration to be given by landlord who […]
Section 194M related to deduction of TDS on Payment of certain sums by certain individual or Hindu undivided family was introduced by the Finance Act 2019. As per Section 194M any person being an individual or HUF making payment to any resident for carrying out any work in pursuance of contract, by way of commission […]
Income Tax Returns Forms 1 to 7 for A/Y 2020-21 Notified. 6 key changes in ITR forms for the AY 2020-2021: 1. Passport One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, it will be made mandatory in other […]
