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 : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
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 Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
Income Tax : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The ITAT Pune held that the CIT(A)/NFAC cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on mer...
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...
Under pressure to unearth blackmoney, the Income Tax department has tracked down over 50 high-value defaulters, who had declared their assets to be zero, with tax liability of over Rs 10 crore.
Notification No. 107/2011 – Income Tax In exercise of the powers conferred by clause (a) of sub-section (1) of section 3 of the Minimum Wages Act, 1948 (Central Act XI of 1948) read with sub-section (2) of section 5 thereof, the Government of Kerala after considering the objections and suggestions received on the draft proposal previously published under Notification No. 10690/E1/2007/LBR, dated 13-12-2010 in the Kerala
The Income Tax Department entertains queries for all assessees regarding the refunding of income tax through the Tax Information Network (TIN). The SBI has been appointed as the refund banker, which processes refunds and routes them to the assessees’ bank accounts. If the assessee does not choose direct credit, a cheque is sent. This facility also helps track the status of the parcel that has been despatched by speed post. All refunds are handled by the Central Processing Centre (CPC) at Bangalore. Visit https://tin.tin.nsdl.com/oltas/refundstatuslogin.html for checking the status of your income tax refund. You can do so by indicating your PAN, relevant assessment year and then clicking on ‘submit’.
Anil Batra Vs CCIT (Delhi High Court)- Whether when assessee has already been convicted for two AYs and the complaint filed for the third year u/s 276B, any revision of the compounding guidelines and an intimation to the assessee in this regard would mean that compounding is allowable even after the complaint is filed?
These three appeals being ITA No. 310/09, 1115/10 and 358/11 are preferred against the orders passed by Income Tax Appellate Tribunal („the Tribunal‟ for short) dated 22/08/08, 17/06/2009 and 16/07/2010 relating to assessment years 2003-04, 2005-06 and 2007- 08 respectively.
Teracom Ltd. Vs ACIT (Bombay High Court)- Tribunal has failed to appreciate that the term “begins to manufacture or produce articles or things” has been interpreted to mean the manufacture or production for the purpose of commerce and not for the purpose of testing.
CIT vs. Yokogawa India Ltd (Karnataka High Court)- The High Court had to consider two issues for AY 2001-02 & onwards: whether (i) the loss incurred by a non-eligible unit & (ii) the brought forward unabsorbed loss & unabsorbed depreciation of the eligible unit has to be set-off against the profits of the eligible unit before allowing deduction u/s 10A/ 10B.
ACIT Vs S.K.M. Construction Pvt. Ltd. (ITAT Mumbai)- Land which forms part of investment in balance sheets is capital asset and hence profit derived from it is taxable under the head capital gain. Mere presence of profit motive not enough to decide the head of income.
Union Finance Minister has said that there would be no difficulty to bring Direct Tax Code, DTC into operation from 1st of April next year. Mr. Pranab Mukherjee expressed hope that the Parliamentary Standing Committee will submit its report by Winter Session of Parliament. Speaking at a function in New Delhi, the minister said, since the Bill is still with the Standing Committee, stakeholders have time to give their views.
Housing and Urban Dev Corp Ltd. Vs JCIT (Supreme Court of India)- On submission of counsel that assessee intend to make application before CBDT, the SC permitted assessee to make a representation to the CBDT, within fifteen days under s 119(2) either for the waiver of interest or to condone the delay in filing the rectification application under s 154 on account of a mistake, the interest income was offered to tax and the tax was also paid on it.
