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 article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 : ITAT Delhi quashed a ₹65 lakh penalty under Section 271D after finding that no assessment was made for the relevant year and no ...
Income Tax : The Tribunal examined whether reassessment proceedings could be initiated after the NCLT declared a moratorium under the Insolvenc...
Income Tax : The Tribunal examined whether unsecured loans could be accepted solely on the basis of loan confirmations. It held that confirmati...
Income Tax : The Tribunal examined whether donations made as part of CSR obligations could qualify for deduction under Section 80G. It held tha...
Income Tax : The Court upheld deletion of the LTCG addition after finding that the Revenue relied on assumptions rather than evidence. Document...
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...
ITAT Chennai held that since there was sufficient own funds to make investment/advances to its subsidiary, the interest disallowance under section 36(1)(iii) was not warranted. Accordingly, AO directed to delete the addition.
Court held that exemption under Section 10(23BBA) applies only to bodies constituted under State enactments, not to temples or deities whose income is separately taxable. Temples must seek relief under Sections 11–12 instead.
Court held that dividend remains income of the shareholder and DDT is an additional income tax covered under Article 2, restricting India’s taxing rights to 10% under Article 11 of the India–UK DTAA.
ITAT Mumbai held that courses not having any approval or affiliation with any authority cannot be ground to hold that the purpose is not charitable. Accordingly, benefit of exemption under section 11 of the Income Tax Act granted since activity of imparting education within meaning of section 2(15).
The Gujarat High Court held that information seized from a third party without a direct nexus to the petitioners cannot sustain a Section 153C notice. The AO’s action was quashed.
The Tribunal held that late filing of Form 10-IC does not bar concessional tax benefits under Section 115BAA. The assessing officer was directed to allow relief once conditions are met.
Tribunal clarified that the Section 251 amendment uses the term ‘may set aside,’ meaning it is discretionary. Since the issue was already resolved in remand, addition was deleted.
The Court held that the tax authority wrongly dismissed a delay condonation plea without considering the assessee’s serious medical condition. The ruling emphasizes that genuine hardship must be evaluated liberally under Section 119(2)(b).
Assessments on foreign-sourced income were deleted after the ITAT confirmed the assessee’s Non-Resident status under Explanation 1(a) of Section 6(1).
The Gujarat High Court held that the assessee disclosed all material facts and the reopening notice under section 148/147 was a change of opinion, lacking jurisdiction.
