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 : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...
Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...
Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...
Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...
Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...
Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
TDS is not applicable on the scrap value retained by the job worker in the given scenario. The payment subject to TDS should be based solely on the invoice value, as the work involved is the cutting of material into small pieces and the payable/payment is equivalent to the invoice value.
Taxpayers can claim a deduction under Section 89 of the Income Tax Act when they receive any part of their salary in advance or arrears. This rule also applies to arrears of family pensions. What is the relief under Section 89 of the IT Act? When employees receive back pay or compensation along with their […]
Explore the concept of Inverted Duty Structure on the Textile Industry under GST. Learn about the governments efforts to rectify the situation, its impact on manufacturers, and the process of claiming GST refund for Inverted Tax Structure. Get insights into the required forms and steps involved in filing a refund application, along with the formula for calculating the refund amount. Understand how addressing Inverted Duty Structure contributes to a favorable business environment, encourages investment, and promotes the growth of the Textile Industry in India.
In the Finance Act, 2023, an amendment was introduced in this provision to bring the consideration received from non-residents within the ambit of Clause (viib) of sub-section (2) of section 56 of the Income-tax Act, 1961.
Explore the increased tax exemption on leave encashment for non-government employees in India. Learn about the new limit, eligibility, and implications on retirement benefits.
Government vide its notification no. 28/2023 dated 22 May 2023, introduced rule 133 under Income Tax Rules (the Rule) to provide the mechanism of calculation of the net winnings. While computing the net winnings following terms have been defined which will be used in formula for computation.
Learn how to file ITR-1 for salaried individuals in India with this step-by-step guide. Understand eligibility, gather required documents, and navigate the e-Filing portal for accurate and efficient income tax return filing.
Understand Toll Collection Rights as intangible assets under Schedule III of the Companies Act, 2013. Explore the legal treatment, taxation, and depreciation benefits for project developers. Clarifications from the Hyderabad Special Bench of the Income-Tax Appellate Tribunal are discussed regarding the nature of toll collection rights as intangible assets, despite CBDT circulars.
Central Board of Direct Taxes, e-Filing Project ITR 4 – Validation Rules for AY 2023-24 – Version 1.0 – 23rd May 2023 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor, Jhandewalan Extension New Delhi – 11 1 Purpose The Income Tax Department has provided free return preparation software in downloads page which are fully compliant […]
Income Tax Department Central Board of Direct Taxes, e-Filing Project ITR 2 – Validation Rules for AY 2023-24 – Version 1.0 – 23rd May 2023 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi – 110055 Document Revision List Document Name: ITR 2 – Validation Rules for AY 2023-24 Version […]
