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...
Learn the procedures to pause and reset the 12A renewal timeline for NGOs under the Income Tax Act. Key deadlines, compliance steps, and challenges explained.
CBDT Circular 9/2025 provides relief from higher TDS/TCS rates for inoperative PANs linked to Aadhaar by specific deadlines, addressing taxpayer grievances.
ITAT Mumbai rules cooperative housing societies can claim Section 80P(2)(d) deduction on interest from co-operative banks. Interest from nationalized banks is not eligible.
In this blog post, I’ll break down what these schedules are, provide real-world examples, and explain how to report them on the Income Tax e-Filing portal. Plus, I’ll touch on the kind of notices you might receive if you miss the mark.
For AY 2025-2026, the CBDT has introduced amendments to Form 3CD, with some impacting Form 3CB indirectly, effective from April 1, 2025. These changes reflect new tax provisions, remove outdated clauses, and introduce enhanced disclosure requirements. Let’s break down the key updates with practical examples.
Income Tax Bill 2025 proposes changes to Section 271B penalty, aiming for proportionality and reduced litigation in tax audit defaults under Section 44AB.
Income-Tax Bill 2025: The Select Committee debated expanding the “accountant” definition. The Ministry of Finance upholds the Chartered Accountant restriction, citing statutory audit roles.
India’s New Income-Tax Bill 2025: Introduced to simplify the nation’s direct tax laws, this bill aims to reduce complexity, enhance readability, and lower compliance costs for taxpayers.
Analysis of the Rajeev Bansal Supreme Court ruling on reassessment approvals, clarifying complexities in Section 151 and its impact on assessing authorities.
ITAT Kolkata ruled a Section 263 revision invalid because the underlying Section 143(3) assessment was based on an improperly formatted Section 143(2) notice, violating CBDT instructions.
