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 article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
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 sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
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...
The investment options available in the market help you set aside a huge portion during your working years for your long-term needs. Further, these plans also offer tax benefits which make them an apt choice to invest in the present scenario when you are already looking for investment options to save tax. Here are some investment options that not only reap good returns in the long run but also save tax under Section 80C of the Income Tax Act.
Representation On Relaxing The Application Of Section 234F Of Income Tax Act And Extension Of Due Date For Filing Income Tax Returns Of Individuals And Small Businesses
This appeal filed by the assessee is directed against the order of Ld. CIT (Appeals) – 18, Kolkata dated 15.04.2016 and the solitary issue involved therein relates to the disallowance of Rs. 5,00,000/- made by the A.O. and confirmed by the Ld. CIT(A) on account of penalty charges paid to Insurance Regularly and Development Authority (IRDA).
Ld. CIT(A) erred in treating the income offered by the assessee under the head income from capital gains as against under the head income from other sources as assessed by the Assessing Officer treating the same as income from undisclosed sources.
Mere hand written paper could not be construed as books of account or documents in terms of section 153C and such documents having no signature of assessee-company or its employees could not be stated as belonging to assessee, so as to invoke section 153C.
Issue: Whether the TDS provisions are applicable on payment of electricity reimbursement to landlord in case of there is no mark-up? Opinion The opinion is based on the following two questions: Whether the invoice from landlord as same from Electricity Department? Whether the invoice from landlord is composite supply? The first question here is to […]
Hon’ble Supreme Court in the case of Goetze (India) Ltd. held that the Assessing Officer does not have the power to entertain a fresh claim raised before him otherwise than by filing a revised return. However, can this still hold good in view of Article 265 of the Constitution of India.
ITO Vs M/s. Perinthalmanna Service Co-operative Bank Limited (ITAT Cochin) The Assessing Officer in the impugned orders had disallowed the claim stating that the assessee could not be treated as a primary agricultural credit society as it is engaged in the business of banking and in view of insertion of section 80P(4) with effect from […]
The issue of notice under section 143(2) in reassessment proceedings, prior to finalizing re-assessment order, cannot be condoned by referring to section 292BB and it was fatal to the order of reassessment.
It cannot be concluded on the basis that the assessee had not filed its income tax returns in earlier years that the activities of the assessee were not genuine. There was no dispute that the objects of the assessee-society were not charitable or the activities of assessee were not being carried on in accordance with the stated objectives of imparting education for which it was established. Mere generation of surplus from year to year could not be basis to hold that assessee existed for the purpose of making profit. Therefore, denial of registration was not justified.
