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Income Tax : Learn how gifts and benefits received in business, like non-cash items, are taxed under Section 28(iv) of the Income Tax Act. Unde...
Income Tax : Learn about the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). Find out how to access them and what in...
Income Tax : Understand agricultural income rules under Section 2(1A) and Rule 7. Learn about income eligibility, deductions, and tax treatment...
Income Tax : Learn about the Faceless Income-Tax Proceedings, including e-Proceedings features, differences from manual assessments, and how to...
Income Tax : Learn about the compounding of offences under direct tax laws, including eligible offences, competent authorities, and the process...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : This petition under Article 226 of the Constitution of India assails the Assessment Order dated 27 March, 2024 passed by Responden...
Income Tax : ITAT Rajkot held that each partner is owner of the assets to the extent of his share in the partnership, hence, exemption u/s 54G ...
Income Tax : The assessee is a co–operative credit society, registered under Maharashtra co–operative society Act, 1960 and is engaged in p...
Income Tax : Delhi High Court held that department need to comply with the order of the Tribunal in passing a fresh assessment order within the...
Income Tax : ITAT Chennai held that invoking the revisionary powers under section 263 of the Income Tax Act without giving any reasoning for se...
Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...
Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Notification No. S.O.939-Income Tax In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Mazhileeswarar and Sri Ponnachiamman Temple, Perunthalaiyur, Tamil Nadu, to be a place of public worship of renown throughout the State of Tamil Nadu
Notification No. S.O.938-Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The Lotus Trust for the purpose of the said section for the period covered by the assessment years 1982-83 to 1984-85.
Notification: S.O.937-Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Jamnalal Bajaj Foundation for the purpose of the said section for the period covered by the assessment years 1978-79 to 1981-82.
Notification No. S.O.936-Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The C. P. Ramaswami Aiyar Foundation for the purpose of the said section for the period covered by the assessment years 1979-80 to 1982-83.
Notification No. S.O.1159-Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shri Lakshmi Narasimhaswamy Devasthanam, Kadiri, for the purpose of the said section for the period covered by the assessment years 1979-80 to 1983-84.
Notification: S.O.1158-Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Malankara Mar Thoma Syrian Church of Malabar, for the purpose of the said section for the period covered by the assessment years 1981-82 to 1983-84.
Notification No.S.O.1157-Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Muslim Orphanage Committee, for the purpose of the said section for the period covered by the assessment years 1981-82 to 1983-84.
Circular No. 322-Income Tax Section 13(1)(d ) provides that subject to the provision of section 13(1)(bb ) a trust/institution for charitable or religious purposes will lose the exemption under section 11 for assessment year commencing from the assessment year 1982-83 if any funds of the trust or institution are invested or deposited or continue to remain invested or deposited for any period during any previous year commencing on or after April 1, 1981 in any of the forms or modes other than those specified in section 13(5).
Circular No. 321-Income Tax The present procedure is that life insurance premium receipts which are produced by the assessees in support of their claim under section 80C are made a part of income-tax records. It has been suggested to the Board that policy-holders are frequently required by the LIC to show the original receipts towards proof of the payment of the premium.
Notification No. S.O.935-Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Maratha Mandir for the purpose of the said section for the period covered by the assessment years 1978-79 to 1981-82.