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 Income Tax Department has clarified the purpose, contents, and access to the Annual Information Statement (AIS) and Taxpayer I...
Income Tax : The Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under...
Income Tax : The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exempt...
Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...
Income Tax : ITAT Jaipur held that proceedings under Section 153C are invalid where the Assessing Officer merely reproduces information from th...
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 Tribunal affirmed the CIT(A)'s order annulling assessments because the search was not conducted in the assessee's name. It als...
Income Tax : The ITAT held that the Supreme Court’s COVID-19 limitation extension did not apply to statutory timelines for completing income-...
Income Tax : The ITAT Raipur held that estimated gross profit addition on unrecorded sales cannot be sustained when the Assessing Officer has n...
Income Tax : The Karnataka High Court set aside the impugned order after finding that the entire tax demand had been recovered despite an inter...
Income Tax : The ITAT Mumbai held that the assessee's convertible debentures lacked the liability component required for classification as Comp...
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...
HIGHLIGHTS OF THE TAXATION LAWS (AMENDMENT) ORDINANCE, 2019 The President has promulgated an Ordinance dated 20 September, 2019 to amend the Income-tax Act, 1961 and the Finance (No.2) Act, 2019. The Ordinance promulgated is THE TAXATION LAWS (AMENDMENT) ORDINANCE, 2019, hereafter referred to as “the Ordinance”. The Ordinance shall come into force at once unless […]
Analysis of tax implication on ‘The Taxation Laws (Amendment) Ordinance, 2019 dated 20th September, 2019 The CBDT has introduced new section , Sec. 115BAA – Tax on income of certain domestic companies where at the option of the assessee, may compute tax @ 22% plus surcharge and cess (effective tax rate comes to 25.17%) from the […]
Director of Elementary Education, Odisha & Ors. Vs Pramod Kumar Sahoo (Supreme Court) We have heard learned counsel for the parties and find that the distinction between Trained Matric Teacher and Untrained Matric Teacher has not been appreciated by the Tribunal and the same error was committed by the High Court as well. The concession […]
In our recent discussions, we had come across that many of the business people and few of the professionals were not aware/familiar with the Transfer Pricing (TP) provisions and the related compliances. This document is intended to provide the basic knowledge of the same.
Currently, with an aim to promote the electric vehicle market, the Government is coming up with various exemption, deductions and rates cuts. One such step is the insertion of new deduction section 80EEB in the Income Tax Act, 1961. Newly introduced section 80EEB provides deduction in respect of interest paid on loan taken from the financial institution […]
DIRECT TAX HIGHLIGHTS Benefits have been announced by Finance Minister in order to boost the economy. A gist on them has been provided below for your ease of reference: For Existing Domestic Companies Reduce the Corporate tax rate for Domestic Companies from 30% to 22% (excluding surcharge & cess) subject to the condition that they […]
A new column named Assessment Proceedings is provided in List of Assigned Internal Audit Cases grid. Clicking on View hyperlink will open the closed Assessment Proceedings (that is the work item) screen in read-only mode (similar to Assessment Work item being opened from Assessment module Status Monitor screen).
Further extension of time till 31.12.2019 for completion of assessment in OCM cases where no return has been filed in response to notice u/s 142(1) of Income -tax Act, 1961 and the assessments have to be completed u/s 144. F.No.225/363/2017-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Tax ********************** […]
CBDT issued corrigendum to Taxation Laws (Ordinance), 2019 in order to correct typographical errors. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 26 September, 2019 CORRIGENDA In the Taxation Laws (Amendment) Ordinance, 2019 (No. 15 of 2019) as published in a Gazette of India, Extraordinary, part II section 1, dated the 20th September, […]
Seeks to amend Notification No. 51/2019 Dated 22/10/2014 – Jurisdiction of income-tax authorities vide Notification No. 73/2019-Income Tax dated 26th September, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 73/2019-Income Tax New Delhi, the 26th September, 2019 (Income-Tax) S.O. 3469(E).—In exercise of the powers conferred by sub-sections (1) and […]
