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 : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
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 : 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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
The ITAT in Kolkata ruled that tax claims cannot be denied on technicalities when documentation is on record. The case of Ambika Metaliks highlights the importance of fairness.
In a key decision, ITAT Ahmedabad set aside a ₹6.51 crore tax demand against a government-funded educational society, holding that procedural lapses do not defeat a substantive right to exemption when all eligibility conditions are met.
In the case of Chandrakant Atmaram Acharya, the ITAT deleted a Rs.10.80 lakh addition for unexplained investments but imposed a Rs.5,000 cost on the taxpayer for non-cooperation with the tax department.
Understand EPF withdrawal taxability and TDS rules. Covers service period, exemption cases, and PAN/Form 15G requirements for correct tax compliance.
The Chartered Accountants Association requests a tax deadline extension to November 30, 2025, due to ITR utility delays, portal glitches, and floods.
Nagpur Chamber of Commerce requests a two-month extension for audit assessees’ income tax returns, citing delayed ITR forms, portal issues, and upcoming festivals.
The Income Tax Appellate Tribunal in Agra has deleted a tax addition against Ankur Rice Industries Pvt. Ltd., ruling that salary payable is a genuine business liability.
The ITAT Ahmedabad ruled that the amendment to Section 11(3)(c) by the Finance Act 2022, which reduced the accumulation period for trusts, is prospective. The court granted relief to Sarangpur Talia’s Pole Punch Trust, confirming its right to a six-year window for pre-amendment accumulations.
The ITAT Ahmedabad bench has set aside an order by the CIT(E) that denied 80G approval to a charitable trust, ruling that the matter requires fresh examination.
The ITAT Mumbai ruled in the case of Motilal Oswal Financial Services that while the AO had validly recorded satisfaction for invoking Rule 8D, the disallowance under Section 14A cannot exceed the actual exempt income, setting a crucial precedent for income tax assessments.
