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 : India’s upcoming tax law changes could redefine resident status for high-income diaspora. Learn how this reform increases global...
Income Tax : Explains that HRA exemption is not permitted under the new tax regime and is fully taxable. Key takeaway: employees must compare r...
Income Tax : Summary of income-tax rules on cash limits, including disallowance of cash expenditure, restrictions on loans, deposits, receipts,...
Income Tax : Overview of income taxed under other sources, including dividends, winnings, interest, deemed income, forfeited advances, family p...
Income Tax : Overview of how ESOPs are taxed at exercise as perquisites and at sale as capital gains, including valuation rules, holding period...
Income Tax : Net direct tax collections grew by 7% year-on-year, driven by higher corporate and non-corporate tax inflows and a reduction in re...
Income Tax : ICAI proposes tax reforms for Union Budget 2026-27 to enhance ease of doing business and sustainability. Suggestions cover reducin...
Income Tax : CBDT extends the due date for furnishing the Income Tax Return for AY 2025-26 to Dec 10, 2025, and the audit report due date to No...
Income Tax : CBDT’s 2025 Search & Seizure Manual guides tax officers on lawful, tech-driven investigations under Sections 132–132B of the I...
Income Tax : CBDT’s 2024-25 APA report details 174 new agreements, including record bilateral deals, advancing tax certainty and reducing cro...
Income Tax : The Tribunal held that the CIT(A) erred in dismissing the appeal solely for non-payment of advance tax without first seeking clari...
Income Tax : ITAT Raipur set aside an ex-parte appellate order where the CIT(A) dismissed the appeal solely for non-prosecution. The matter was...
Income Tax : The Tribunal dismissed the rectification plea after holding that no mistake apparent on record was shown. It ruled that the assess...
Income Tax : ITAT Chandigarh allowed a delayed appeal of 457 days, holding that the assessee had reasonable cause for delay and the Limitatio...
Income Tax : The Court held that no disallowance under Section 14A can be made when exempt income is not earned in the relevant year. It upheld...
Income Tax : The Finance Ministry notifies the India-Belgium protocol amending the 1993 tax treaty, effective June 26, 2025, updating definitio...
Income Tax : CBDT notifies Ayodhya Vikas Pradhikaran as exempt under Section 10(46A) of the Income Tax Act, effective from AY 2024-25, with ret...
Income Tax : CBDT grants tax exemption to Haryana Building and Other Construction Workers Welfare Board for specific income types under Section...
Income Tax : Notification 157/2025 sets 1% tolerance for wholesale trading and 3% for all other cases for Arm's Length Price variation for AY 2...
Income Tax : Ministry of Finance, CBDT, notifies the Karnataka Housing Board for income tax exemption under Section 10(46A) of the Income-tax A...
15.2 On a careful reading of section 6(1) alongwith the circular cited above we are of the considered opinion that where the individual is resident in the previous year, but was not a resident in India in 9 out of 10 previous years preceding the year or was in India for a total period of 730 days or more in seven previous years then his residential status will be that of resident but not ordinarily resident
21. In view of the above submissions of the assessee and in view of the fact that M/s.Sky Blue Trading & Investment Pvt. Ltd. is sister concern of the assessee, we find no merit in the contentions of the assessee that the transaction between the assessee and M/s.Sky Blue Trading & Investment Pvt. Ltd. fell through because of the non-compliance of the conditions stipulated in the Memorandum of Understanding
10. The core of controversy in this appeal is against the deductibility or otherwise of an interest of Rs. 6,50,236 allowed to the partners which was claimed as deduction. The case of the Assessing Officer is that no deduction on account of interest to partners can be allowed. The learned D. R. submitted that the rental income of Rs. 16.70 lakhs was rightly held to be taxable under the head `Income from other sources’
6.6 There cannot be a straight jacket formula for detection of these defaults of concealment or of furnishing inaccurate particulars of income and indeed concealment of particulars of income and in accurate particulars of income may at times overlap. It depends upon the facts of the each case. In the assessment proceedings the ITO while ascertaining the total income chargeable to tax would be in a position to detect the specific
Any person from or through whom the non-resident is in receipt of any income directly or indirectly can be treated as an agent of the non-resident; the sole requirement of section 163(1)(c) is that only the non-resident should receive income directly or indirectly from or through the person of India.
1. New Users can register their Digital Certificate during registration process 2. During Registration and Forgot Password, Captcha Image needs to be entered by the user for verification. If the image is not clear for the user, they can refresh and get a new image 3. After successful registration of user, User Activation URL sent […]
Bench functioning Notice From 25.05.09 to 29.05.09:- N O T I C E The following benches will not function during the period 25.05.09 to 29.05.09:- “A-1, B-1, E-1, K, L, & SMC “
The notice u/s 143(2) served after the expiry of limitation of time is not valid and the assessment passed in pursuance of an invalid notice is illegal and void. Section 143(2)(ii) clearly stipulates service of notice and not issuance of notice.
According to plain reading of Section 80P(2)(a)(iii) , if a Cooperative Society earns income from marketing of the agricultural produce grown by its members, the deduction in respect of the profits and gains of business which are attributable to that marketing activity would be available under this provision. The main point that needs deliberation is the scope and ambit of the expression “marketing ” occurring in sub -clause (iii) of Section 80P(2)(a) of the 1961 Act.
Commerce department has asked for the removal of fringe benefit tax (FBT) on exporters in its list of key reform proposals to be included in an ambitious package being readied by officials for the new government’s 100-day reform agenda. It has asked for removal of this tax imposed on exporters as it acts as a […]
