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 whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Explore major income tax updates for FY 2025-26, including revised tax slabs, TDS/TCS rules, rebates, and benefits for startups. S...
Income Tax : Analyzing if increased TDS thresholds and reduced rates enhance taxpayer liquidity or just shift tax payments to advance tax. Read...
Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...
Income Tax : Recent changes in India's income tax structure, particularly the introduction of rebates, have led to some confusion among taxpaye...
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 Pune held that delay in filing audit report in Form 10CCB due to technical problem is justifiable and hence denial of claim u...
Income Tax : ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable...
Income Tax : Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” ha...
Income Tax : ITAT Nagpur rules in ITO Vs N. Kumar Housing, addressing ₹5.2 crore addition under Sections 41(1) and 68. Liability cessation an...
Income Tax : ITAT Pune rules in Ramchandra Jadhavrao vs. ACIT that no penalty under Section 271(1)(c) applies if income is declared in return p...
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...
ITAT Allahabad held that facts brought to the notice of this Tribunal are relevant and very crucial for deciding the issue under consideration. Since the facts were not produced before earlier authorities impugned order is recalled
Whether forfeiture of gratuity, under Payment of Gratuity Act, 1972, is automatic on dismissal from service, is issue for consideration in this case.
Calcutta High Court held that Income Tax authorities can initiate afresh proceedings if the previous proceeding were invalid as per law.
Stalco Consultancy & Systems Private Limited Vs PCIT (Orissa High Court) HC relied on the Supreme Court judgment in Union of India v. Ashish Agarwal and quashed notices under Section 148 of the Act which were issued prior to 1st April, 2021 but beyond the period of six years after the expiry of the relevant […]
Considering the provision of Section 68 that the assessee has to prove three conditions i.e. (i) identity of the creditor; (2) capacity of such creditor to advance money; and (iii) genuineness of the transactions. If all the aforesaid three conditions are proved, the burden shifts on the revenue to prove that the amount belong to the assessee. However, the assessee cannot be asked to prove source of source or the origin of origin.
Umesh Kumar Vs State Of U.P. And 3 Others (Allahabad High Court) The purpose of inserting the provision under Rule 23 of GST Rules, 2017 as to service of notice upon the assessee is to provide an opportunity to him to move a revocation application so as to save the registration from being cancelled permanently […]
Pramod Kumar Tiwari Vs DCIT (ITAT Allahabad) in the case in hand, the assessee has admittedly filed the return under wrong provisions of presumptive tax under section 44ADA whereas the commission income as reflected in Form 26AS is subjected to TDS under section 194H and is required to be declared in Form ITR 3 as […]
PCIT Vs Karuna Garg (Delhi High Court) PCIT states that ITAT has erred in deleting the additions on account of bogus Long-Term Capital Gain on sale of penny stock company namely M/s Goldline International Finvest Ltd. on the ground that the assessing officer has not made independent enquiry. ITAT held that In the absence of […]
Dr B L Kapur Memorial Hospital Vs CIT (TDS) (Delhi High Court) HC Court is of the view that the requirement of payment of twenty per cent of disputed tax demand is not a pre-requisite for putting in abeyance recovery of demand pending first appeal in all cases. The said pre-condition of deposit of twenty […]
Rajesh Katyal Vs Income Tax Department (Delhi High Court) Supreme Court in judgment of Ganpati Dealcom Pvt. Ltd. Held that offence under Section 53 of Benami Transactions (Prohibition) Amendment Act, 2016 is prospective and would only apply to those transactions which were entered into after amendment came into force i.e., 01st November, 2016. Supreme has […]
