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 revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...
Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...
Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...
Income Tax : This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section ...
Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
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 Delhi ITAT sustained the addition arising from the sale of listed shares after finding discrepancies in purchase records, incl...
Income Tax : ITAT Lucknow held that derivative losses incurred by a spouse using funds gifted by the assessee can be clubbed and set off under ...
Income Tax : While recognising that earlier judgments had invalidated JAO-issued notices, the Court avoided passing orders that would make the ...
Income Tax : The Delhi ITAT held that where purchases are reflected in accepted sales and closing stock, the entire purchase amount cannot be d...
Income Tax : The Delhi ITAT held that repeated non-compliance with statutory notices transformed the reassessment into a best judgment assessme...
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...
Issue – Assessee in this appeal had sold a residential house at Film Nagar, Hyderabad, during the relevant previous year, for a sum of Rs. 6,50,00,000/-. After deducting indexed cost of acquisition, the long term capital gain came to Rs. 5,98,25,430/-.
Notification No. 49/2013 – Income Tax In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961) the Central Government hereby notifies for the purposes of the said clause, the Himachal Pradesh Electricity Regulatory Commission, a Commission established by the Central Government of Himachal Pradesh, in respect of the following specified income arising to that Commission, namely:-
Notification No. 48/2013 – Income Tax (a) amount received in the form of Government grants; (b) amount received as licence fee from licensees in electricity; (c) amount received as application processing fee; and (d) interest earned on Government grants and fee received.
Income Tax Department has released Income Tax Return (ITR ) 7 as Applicable for persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) for e-filing of Returns for A.Y. 2013-14 of Financial Year 2012-13. ITR form can be downloaded from the website https://incometaxindiaefiling.gov.in/ .
What is Dividend Distribution Tax? Section 10(34) of the Income Tax Act, 1961 declares that in addition to the income tax paid by a domestic company against the total income for any assessment year, any amount declared, distributed or paid by such company in form of dividends, is subject to additional tax known as Dividend Distribution Tax. DDT is also applicable to debt mutual funds and is the tax that debt funds pay on the dividend distributed to retail investors.
Where a return of income could not be filed by the assessee due to unavoidable circumstances, and assessee proved to have a bona fide belief , coupled with the voluntary payment of tax liability, the Chief Commissioner was not justified in declining the benefit of a waiver of interest to assessee under section 234B.
a. Number of assessment units (AtJs) to be increased by 1080 from 3420 to 4500. for strengthening the tax-administration. b. Expected net additional revenue of Rs. 25,756.04 crores per annum against expenditure of Rs. 449.71 crores per annum c. Each Range to have one more Assessing Officer.
his Sub-Committee shall, after considering the creation of 20,751 additional posts, 1080 additional assessment/other units, and consequent requirement of existing infrastructure, be responsible for Assessing the existing infrastructure, and infrastructure gaps in the Department. Working out and recommending arrangements to meet the interim requirements of infrastructure based on the creation, deployment and filling of posts in various Regions until the long term arrangements are made. Recommending long term infrastructure requirements to dovetail with the plan for location and phasing of posts and offices, Working out the requirements of other supporting infrastructure for the offices and Preparing an infrastructure plan with its implementation schedule and financial implications.
This Sub-Committee No. 6 known as the Sub-committee on RRs for Group B & C Cadres shall be responsible for the following: identifying requirements for amendments in RRs as a result of restructuring and the Model RRs, examining the issue such as the merger of posts like STA, Steno Gr 1. OS as Executive Assistant, and the consequent changes in promotion channels; and making recommendations for suitable amendments in the RRs. examining recruitment/promotion related problems in these posts faced in different regions, and recommend any required amendment in the RRs resolve the same.
5. This Sub-Committee shall: look into the existing issues in the RRs for IRS recommend RRs for the new scales/posts in accordance with the model RRs, and considering RRs of other Services with Apex Scale in their cadre prepare consolidated RRs taking into account the amendments already proposed, and amendments required as a result of Cadre Restructuring, and assist in the speedy amendment of the RRs for the IRS
