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 : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
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 : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
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...
Excel based Challan Utility for ITNS 280 and ITNS 281 – The utility given below will fill your Income Tax Challan No. 280 (For Payment of Income tax) and Income Tax Challan No. 280 (Related to Payment of TDS/TCS). With the excel utility files we attached one help file in word format which can be referred to understand how to use both the utilities.
Hon’ble High Court held that making of an incorrect claim would not tantamount to furnishing inaccurate particulars of income when Assessee has made full disclosure of relevant Facts and of Claim Made as held by Hon’ble Supreme Court in the case of CIT vs. Reliance Petroproducts Pvt. Ltd. 322 ITR 158.
The assessee had made payments to non-residents on account of interest, royalties and fees for technical services and the same were subject to withholding under Section 195 of the Act. The assessee in accordance with provisions of Section 90(2) deducted tax on such payments as per the beneficial rates prescribed in the DTAA with respective countries.
Further, it is not the case of the assessing officer that the assessee has indulged in accounting of bogus purchases. When the assessee submitted that he could not have effected the sales without making corresponding purchases, the AO has taken the view that the assessee could have effected purchases in the grey market, which conclusion is, in fact, not supported by any material.
The Central Bureau of Investigation has arrested Chief Commissioner of Income Tax PK Sharma, Jodhpur & an Income Tax Officer Shailendra Bhandari, Jodhpur and a private person(resident of Paota, Jodhpur) in an alleged bribery case of Rs.15 lakhs.
In this case AO has made the addition as some of the suppliers of the assessee were declared Hawala dealer by the Sales tax Department. This may be a good reason for making further investigation but the AO did not make any further investigation and merely completed the assessment on suspicion
AO was not justified in making the addition on the basis of statements given by the third parties before the Sales Tax Department, without conducting any other investigation. In the instant case also, the assessing officer has made the impugned addition on the basis of statements given by the parties before the Sales tax department.
Approval of the competent authority is conveyed for posting of the following officials for posting in Directorate of Systems for setting up of “Project Insight”/CPC-Compliance Management (CPC-CM) under provisions of CPC-Staffing Scheme by diversion of posts with
This article is primarily meant for interest earners wherein they earn interest income from Fixed deposits and etc. other interest bearing instruments. While putting money in Fixed deposits and etc. other interest bearing instruments, quite some number of us do not give a duly filled and signed Form 15G for lower/non-deduction of Tax Deducted at […]
Calcutta High Court held In the case of Late Sushil Modi vs.CIT that the contention of the assessee that he need not prove his case and the assessing officer is bound to find corroboration by making independent enquiry is neither based on law nor is supported by reason.
