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 : Taxation plays a key role in reducing income inequality through progressive tax policies, redistribution, and public services. Lea...
Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...
Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...
Income Tax : Learn how residential status affects tax liability under the Income Tax Act, 1961. Understand ROR, RNOR, and NR classifications an...
Income Tax : Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR u...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Income Tax : ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI w...
Income Tax : Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional c...
Income Tax : ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not...
Income Tax : Bombay High Court dismisses Shandilya Properties LLP's petition challenging an income tax assessment order, directing them to exha...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Bokaro Power Supply Co. Pvt Vs Addl. CIT Special Range(ITAT Delhi) In the written submissions the assessee has agitated regarding charging of interest of Rs. 48,069/- u/s. 234 A of the Act and submitted that the company has electronically uploaded form 3CEB on 30th November 2015 as well as the Income Tax Return on same […]
ITAT held that provisions of section 56(2)(viia) of are applicable only in cases where purchased share become property in the hands of buyer company and, if shares are of any other company.
If purpose of incentive or subsidy was to enable assessee to set up a new unit or to expand existing unit then receipt of subsidy was of capital in nature.
Nirav Bipinbhai Vaghasiya Vs ITO (ITAT Surat) ITAT find that in the return of income the assessee claimed refund of TDS reflected in his Form-26AS. The CPC denied such refund in its intimation dated 08.10.2018. The assessee filed application for rectification under section 154. In the application under section 154, the assessee claimed such refund […]
When assessee entertained bona-fide belief that its account were not subject to audit u/s 44AB, it would certainly constitute reasonable cause for not obtaining the audit report and, therefore, question of imposing of penalty u/s 271B does not arise.
M. Baskar Vs Commissioner of Commercial Taxes (Madras High Court) Petitioner cannot be held guilty for the alleged charge, in view of the fact that his assessment order passed earlier in his official capacity has once again been re-affirmed in the subsequent assessment order passed pursuant to the directions given by this Court in W.P.Nos. […]
So far as the penalty is concerned on such refundable amount, petitioner is not liable to pay the same since admittedly the respondent/revenue authorities’ own case is that the amount of refund in question was paid to the petitioner due to mistake on their part and for no fault on the part of the petitioner.
Lakshya Vintrade Private Limited Vs Union of India And Ors. (Calcutta High Court) The sole ground by the petitioner for challenging the impugned order under Section 148A(d) of the Act is that the same is not a speaking order and the reasons recorded therein are not well-reasoned and satisfactory which according to me cannot be […]
Adjudication in civil matters is based on preponderance of probabilities whereas adjudication in criminal cases is based on the principle that the accused is presumed to be innocent and the guilt of the accused should be proved to the hilt and the proof should be beyond all reasonable doubt.
Bombay High Court held that CBDT Guidelines dated 14th June 2019 prescribing time limit for application for compounding of offence is contrary to provisions of section 279(2) of the Income Tax Act.
