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...
Issue/Justification There are classes of persons who are filing income tax returns but are not declaring their income properly. Either the income is suppressed or various deductions are being claimed which are not legally permissible. With the increase in the work of the Department it is not practicable to scrutinize each and every return. Taking […]
About 72 lakh Self Help Groups(SHGs) of women promoted by NABARD be exempted from service tax for the services rendered by them to small farmers etc, tax benefit limit for health insurance be suitably raised, tax exemption under Section 80C of the Income Tax Act be raised
Who can use this ITR-2 Return Form for Assessment Year 2014-15? This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 201 4-15 includes:- (a) Income from Salary / Pension; or (b) Income from House Property; or (c) Income from Capital Gains; or
Notification No. 31/2014-Income Tax S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income Tax Act, 1961 (42 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August, 1998, namely:-
Allocations projected in the Interim Budget 2014-15, are generally not altered. However, cases of schemes/ decisions which have the effect of raising expenditure commitments, may be sent to the Budget Division for examination. In case the additionality is agreed to by this Ministry, then revised Statements of Budget Estimates (SBEs) would need to be forwarded to Budget Division.
Notification No. 7/2014-Income Tax In partial modifications of earlier Notification No. 1 of 2013(F.No.A32012/6/ 2012-Ad.VI) dated 15t January, 2013, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect
Notification No. 10/2014-Income Tax In partial modifications of earlier Notification No. 04 of 2014(F.No.A32012/ 2/ 2013-Ad.VI) dated 3rd March, 2014, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,60039,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect
Notification No. 8/2014-Income Tax In partial modifications of earlier Notification No. 7 of 2013(F.No.A32012/6/2012-Ad.V1) dated 2l October, 2013, it is clarified that the following Assistant Commissioners of Income Tax (Junior Time Scale) are hereby appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Grade Pay of Rs. 6,600/- in Pay Band-3) with effect
THEN JOINT COMMISSIONER OF INCOME TAX SENTENCED THREE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS. 20,000/- IN A CORRUPTION CASE CBI Press Release- New Delhi, 10.06.2014 The Special Judge, CBI Cases, Patiala (Punjab) has convicted Shri R.L. Channalia, the then Joint Commissioner, Income Tax, Amritsar (Punjab) and sentenced him to undergo three Years Rigorous Imprisonment […]
If no additions made on grounds set for reasons for reassessment, than no addition can be made on other aspects The legal position is fairly well settled on the issue that in a reassessment proceeding, when no additions are made in respect of the income, purportedly escaping the assessment, set out in the reasons for re-opening the assessment, no other additions can be made either.
