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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.

Latest Articles


Form 10 IE Or Form 10 IEA: Which Form Is to Be Filed and By Whom?

Income Tax : Confused about which form to file for tax regime choice? Understand the differences between Form 10IE and Form 10IEA, filing dates...

March 29, 2024 3 Views 0 comment Print

Analysis of Karnataka Compulsory Gratuity Insurance Rules, 2024

Income Tax : Understand the nuances of Gratuity - eligibility, exemptions, tax implications for employers & employees, and recent regulatory ch...

March 29, 2024 48 Views 0 comment Print

Practical Intricacies of Section 43B(h)

Income Tax : Explore the practical implications of Section 43B(h) of the Income Tax Act, its applicability, disallowance scenarios, and complia...

March 29, 2024 96 Views 0 comment Print

Residential Status of Individuals under Income Tax Act

Income Tax : Learn why determining residential status matters for income tax in India. Explore the categories, tests, and implications for ind...

March 29, 2024 159 Views 0 comment Print

Transfer Pricing – Part 2 – Compliance and Assessment Procedures

Income Tax : Learn about Transfer Pricing compliance and assessment procedures, including ALP determination, TPO reference, DRP mechanism, APAs...

March 28, 2024 384 Views 0 comment Print


Latest News


24X7 Control Room to monitor cash movements for General Elections 2024

Income Tax : Ministry of Finance sets up a 24X7 Control Room for Lok Sabha Elections 2024 in Delhi to monitor cash movements. Toll-free number:...

March 20, 2024 411 Views 0 comment Print

Direct Tax Collections Surge: FY 2023-24 Records Remarkable Growth

Income Tax : Ministry of Finance reveals impressive growth in India's direct tax collections for FY 2023-24, with net collections up by 19.88%,...

March 20, 2024 3804 Views 0 comment Print

Income Tax Dept admits Inconsistencies in Securities Market Data (SFT-17)

Income Tax : Income Tax Department has identified certain inconsistencies in the Statement of Financial Transactions (SFT-17) data related to s...

March 12, 2024 390 Views 0 comment Print

Ministry of Finance Launches e-Campaign for Advance Tax Compliance

Income Tax : The Income Tax Department, under the Ministry of Finance, is set to initiate an e-campaign aimed at enhancing taxpayer compliance ...

March 10, 2024 483 Views 0 comment Print

Guide to Filing Updated Returns Under Section 139(8A)

Income Tax : Learn how to file updated returns under Section 139(8A) of the Income Tax Act within 24 months from the assessment year end. Know ...

March 9, 2024 1578 Views 0 comment Print


Latest Notifications


Changes in ITR form V and Acknowledgement for A.Y 2024 25

Income Tax : Explore amendments in ITR form V & Acknowledgement for A.Y 2024-25 as per Income Tax Act, 1961 & Rules, 1962. Understand filing pr...

March 28, 2024 10239 Views 0 comment Print

Notification No. 36/2024: Income Tax Exemption- National Mission for Clean Ganga

Income Tax : Explore Notification No. 36/2024 by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, concerning the ...

March 26, 2024 225 Views 0 comment Print

CBDT notifies ‘Principal Secretary, Planning Department, UP U/s. 138(1)(a)(iii)

Income Tax : Stay informed with Ministry of Finance Notification No. 35/2024. Learn about the latest specification of 'Principal Secretary, Pla...

March 22, 2024 402 Views 0 comment Print

Corrigendum to Income Tax Notification No. 27 of 2024

Income Tax : Understand the implications of the corrigendum to Income Tax Notification No. 27 of 2024. Get insights into the changes and their ...

March 19, 2024 2592 Views 0 comment Print

CBDT Amends India-Spain Double Taxation Avoidance Agreement (DTAA)

Income Tax : Explore the Notification No. 33/2024 on the agreement between India and Spain for tax exchange. Understand its implications and ch...

March 19, 2024 402 Views 0 comment Print


How To Register Legal Heir on Income Tax Portal?

March 16, 2023 19890 Views 2 comments Print

Learn how to register as a legal heir on the Income Tax portal and file returns for a deceased person. Follow these steps and ensure compliance with tax obligations.

Absolute power corrupts absolutely

March 16, 2023 1491 Views 0 comment Print

Discover the implications of sections of the Income Tax Act, 1961, and articles of the Constitution of India in tax assessments and recoveries. Learn from a recent judgment how timely appeals and payments can protect taxpayers’ rights.

One-time Opportunity to submit ITR for FY 2019-20 & FY 2020-21

March 16, 2023 28365 Views 1 comment Print

Discover the one-time opportunity to submit your Income Tax Return (ITR) for FY 2019-20 & FY 2020-21 now. Learn about the ITR-U form and updated deadlines.

Reference to DVO for correct fair market value mandatory if requested by assessee

March 16, 2023 3321 Views 0 comment Print

ITAT Mumbai held that even after request from assessee to refer DVO for correct fair market value of the subject property, AO was duty-bound to refer the same to DVO. Accordingly, matter remanded back with a direction to refer the matter to DVO and decide the issue.

Income Tax Deduction in respect of Contribution to Political Parties

March 16, 2023 5928 Views 1 comment Print

Discover tax deductions for contributions to political parties under Sections 80GGB & 80GGC of the Income Tax Act, 1961, including eligibility criteria and quantum of deductions.

Must-Know Tax Planning Strategies for Indian Business Owners

March 16, 2023 5823 Views 0 comment Print

Discover essential tax planning strategies for Indian business owners, including choosing the right entity, maximizing deductions, and utilizing tax-saving schemes to minimize tax liability.

TDS u/s 195 not deductible as payment doesn’t qualify under fees for technical service

March 16, 2023 2106 Views 0 comment Print

ITAT Bangalore held that payment made towards service charges to CGTM France doesnot fall under the category of fees for technical service. Accordingly, TDS u/s 195 of the Income Tax Act not deductible.

Assessee being in tea plantation business, post disallowance of EPF, 40% will be taxable as per rule 8(1)

March 16, 2023 1302 Views 0 comment Print

ITAT Kolkata held that post disallowance of employee contribution to PF, only 40% will be taxed as business income in terms of applicable provisions of rule 8(1) of Income Tax Rules, 1962 as assessee is engaged in tea plantation business.

Cost of improvement based on valuation report of registered valuer duly allowable

March 16, 2023 2451 Views 0 comment Print

ITAT Jaipur held that cost of improvement cannot be rejected on the reason that building plan approval, property tax, etc. not provided as no building approval is required for construction area of 870 Sq. Fts and property tax was not leviable on the residential house property. Cost of improvement allowable as valuation report submitted.

Addition u/s 69A via rectification order u/s 154 based on surmises and conjectures unsustainable

March 16, 2023 1572 Views 0 comment Print

Pawan Raj Goyal Vs DCIT (ITAT Delhi) ITAT Delhi held that addition of unexplained money under section 69A of the Income Tax Act via rectification order passed under section 154 stating there was mistake apparent from record is based on surmises and conjectures and hence unsustainable. Facts- Assessee has preferred the present appeal contending that […]

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