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 explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
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 : 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 Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...
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 : 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...
CBDT grants Section 10(46) tax exemption to Credit Guarantee Fund Trust for Animal Husbandry and Dairying on specified income, effective AY 2025–26 to 2029–30.
The Karnataka High Court ruled that an assessee can claim Section 54 exemption for capital gains on more than one house purchased, citing legislative intent and judicial precedents.
The ITAT Cochin ruled that cash received as a final payment during a property registration is not a violation of Section 269SS, waiving the penalty.
The Calcutta High Court invalidates a penalty under Section 271(1)(c) because the show-cause notice failed to specify whether the charge was for concealing or furnishing inaccurate income particulars.
Read the full ITAT Indore order on an assessee’s appeal dismissed for a 3-year delay. The court examined reasons for the late filing and rejected the plea for condonation.
The ITAT Ranchi has ruled that an Assessing Officer cannot reopen an assessment based on “reason to suspect,” distinguishing it from “reason to believe.”
The ITAT Chandigarh ruled that a penalty notice without a specific charge is invalid, leading to the deletion of a penalty under Section 271AAB.
The ITAT Chandigarh deleted additions under Section 153A, ruling that an assessment cannot be reopened without incriminating material found during a search.
The Mumbai ITAT ruled that under Section 50C(3), the stamp duty value prevails over a higher DVO valuation. Learn how this impacts capital gains tax.
The Ministry of Finance has exempted the Kanpur Development Authority from income tax under Section 10(46A) of the Income-tax Act, 1961, effective from AY 2024-25.
