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 : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Tribunal ruled that contributions to workers’ educational institutions under NCWA are statutory obligations and not voluntary expenses. Disallowance under Section 40A(9) was deleted. Issues on TDS, Section 43B and double disallowances remanded to AO for verification.
ITAT Jaipur deletes ₹6.26 Cr. addition u/s 68, stating it would be double taxation. Tribunal also rules that the CIT(A) exceeded jurisdiction by remanding the case for verification of already submitted documents.
ITAT Hyderabad upholds PCIT’s Section 263 order as AO failed to verify 99% subcontract expenses; reassessment directed for unverified GST-linked subcontract claims.
The ITAT Raipur has set aside an addition under Section 68 on a salaried employee’s demonetization cash deposit, citing a lack of evidence by the CIT(A).
ITAT Hyderabad partly allows Revenue’s appeal in Net Net Ventures case. Rs.7 Cr addition deleted; Rs.1.47 Cr and Rs.1.73 Cr issues remanded for verification.
The ITAT Pune restores a case for fresh assessment after an updated tax return was filed with errors by a consultant, ruling that a taxpayer cannot be taxed on income they did not earn.
ITAT Chandigarh restored an AO’s assessment order, quashing a PCIT’s revisionary order that doubted agricultural income despite adequate inquiry and documentary evidence.
A summary of the Sachin Notified Area vs. PCIT tax case. The ITAT Surat remanded the issue for fresh adjudication, citing a prior ruling in the assessee’s favor.
ITAT Chennai invalidates reassessment under Section 148 as notice issued by Jurisdictional AO post 29.03.2022 violated faceless procedure.
ITAT Hyderabad held that levy of late filing fee u/s. 234E of the Income Tax Act for 1st, 2nd, and 3rd quarter TDS return in Form 26Q not justified since all the 3 quarter returns filed on or before due date of filing 4th quarter return and reasonable cause shown. Accordingly, appeal allowed.
