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 Chennai ITAT held that payments received by a UAE resident could not be taxed as Fees for Technical Services in India because ...
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 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...
Though the issue raised in these connected appeals filed by the Revenue stands decided in favour of the assessees by Division Bench judgment of this court in SOUTH INDIAN BANK LTD. V. COMMISSIONER OF INCOME-TAX reported in 262 ITR 579, the department while arguing these appeals before a Division Bench of this court canvassed against the correctness of the said judgment and the Division Bench on being prima facie satisfied, referred the matter for decision by Full Bench and hence the matter is before us.
The Assessing Officer can invoke the provision of section 80-IA(10) only when there is a close connection between the assessee carrying on eligible business and any other person or for any other reason, the course of business between them is so arranged that the business transacted between them produces to the assessee more than the ordinary profits.
Where the agreement was executed outside India and the delivery of the vessel also took place outside India, by reason of the mere presence of the vessel in India without the volition of Vessel Providing Companies, the source of income cannot be said to be located in India
Mohanlal Parekh. The appellant firm entered into a development agreement on 25.4.2003 with Hickson & Dadajee P.Ltd a company duly incorporated under the Companies Act, 1956 to develop property situated at Village Pahadi, Goregaon (E) owed by M/s Hickson & Dadajee P.Ltd In pursuance of said development agreement, the assessee firm undertook to construct residential building viz., “Acmee Armay” to be residential area constructed at 60,000 sq.ft. approx. comprising 200 flats in 7 wings in ground plus upper floors to be approved. The said residential building has to be constru
The transfer of equity shares in Indian company would not be regarded as transfer within the meaning of section 45 read with section 47(iv) of the Income-tax Act and hence the gains if any arising on transfer would not be taxable in India The applicant has no liability to pay capital gains tax under section 45 and minimum alternate tax under section 115JB of the Ac
Where the supervisory activity of each project of the assessee-company was for less than 75 days, the income from the supervision and installation of the plant cannot be treated as income of the PE; since there was no PE of the assessee, there is no question for treating the income towards supervision, erection and commissioning of a plant as an income of the assessee taxable in India
Tribunal was not justified in coming to the conclusion that the amount to be reduced under clause (iv) of Explanation 1 to Section 115JB in respect of the profits eligible for deduction under Section 80HHC has to be computed with reference to the net profits in the profit and loss account and not according to the profits of the business computed under the head of profits and gains of business or profession
If the `flower bouquet’ is an arrangement of cut flowers, such arrangement of cut flowers by itself would not convert the said flowers into a different commercial commodity nor will it amount to and activity which would have an impact on the nature of the goods and will therefore not fall within the definition of the word “manufacture”
During the year, the assessee paid Rs.2,83,43,188 to various contractor. The AO noticed that the payment of TDS was not made within the statutory period in respect of payments of the contractors and therefore, it required to be disallowed u/s 40(a)(ia). The assessee claimed before the AO that the entire payment was made in the month of March 2005 and tax was deducted in the month of March 2005 only Therefore, the tax deposited on 21.09.2005 is within the statut
The amount receivable by the assessee, who is a share broker, from his clients against the transactions of purchase of shares on their behalf constitutes debt which is trading debt; the brokerage/commission income arising from such transactions very much forms part of the said debt and when the amount of such brokerage/commission has been taken into account in computation of income of the assessee of the relevant previous year or any earlier year, it satisfies the condition stipulated in section 36(2)(i) and the assessee is entitled to deduction under section 36(1)(vii) by way of bad debts after having written off the said debts from his books of account as irrecoverable.