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 : IT Dept scrutinizes political donations ₹5L+ for tax fraud. Learn about Section 80GGC/80GGB, penalties, and steps to ensure comp...
Income Tax : Why does tax evasion still thrive despite all the efforts to stop it? And more importantly, what can be done to fix it? This blog ...
Income Tax : Through tax laws on Virtual Digital Assets (VDAs) like cryptocurrencies and Non-Fungible Tokens (NFTs), India has initiated the pr...
Income Tax : Explore evolution of tax laws from ancient times to the modern era, highlighting key changes, global trends, and challenges shapin...
Income Tax : Received an IT notice on political donations? Understand why, what to do, and avoid penalties. Expert advice to respond effective...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
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 : ITAT Pune remands the appeal of Mula Parisar Serva Seva Sangh regarding TDS refund claim for 2018-19, citing past precedents....
Income Tax : ITAT Chennai sets aside CIT(E)’s rejection of 80G registration for SKNNSM Society, citing inadequate time for response. Case sen...
Income Tax : ITAT directed AO to verify Factory Premises rental income and compute taxability under section 57, allowing proportionate expense...
Income Tax : Delhi High Court directs NFAC to expedite pending appeals, expressing concern over prolonged delays in taxpayer cases, including a...
Income Tax : Delhi ITAT rules Section 56(2)(viib) of the IT Act does not apply to transactions between holding and subsidiary companies, quashi...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
1) Who is responsible to deduct tax under section 194LD of Income Tax Act, 1961? Any person who is responsible for paying to a person being a Foreign Institutional Investor or a Qualified Foreign Investor any income by way of interest. 2) Nature of Payment a) Interest payable on or after the 1st day of […]
1) Who is responsible to deduct tax under section 194LC of Income Tax Act, 1961? If an Indian company or a business trust pays income by way of interest to non-resident (not being a company) or foreign company, has to deduct TDS under this section. 2) Nature of Payment Interest payable by an Indian Company […]
1) Who is responsible to deduct tax under Section 194LBC of of Income Tax Act, 1961? Any person who gives income to an investor with respect to investment in securitization trust is required to deduct tax under this section. 2) When to Deduct TDS under Section 194LBC? The time of deduction is earlier of, the […]
1) Who is responsible to deduct tax under section 194LBB of Income Tax Act, 1961? Any person who gives an income (as referred u/s 115UB) to a unit holder in respect of units held in an investment trust has to deduct tax under this section. 2) When to Deduct TDS under Section 194LBB? The time […]
Section 194J of Income Tax Act, 1961 Every person other than individual/HUF who are not required to do tax audit in preceding year, who is responsible for paying to a resident any sum by ways of :- A. Fees for Professional fees or B. Fees for technical services or C. Remuneration paid to directors excluding […]
Learn about the 9 new big income tax reliefs for 2021. From PAN Aadhar linking to Section 54 LTCG investment, stay up to date with the latest tax changes.
The Finance Act, 2021 has enacted special provisions namely Section 206AB and Section 206CCA, for deduction and collection of tax at source applicable to deductees who were non-filers of income tax returns, effective from 1st July 2021. While Section 206AB specifies the rate of deduction of tax applicable to a person who has been defined […]
Hello friends, here we discussed Section 9B, Section 45(4), & Section 48 of the Income Tax Act SECTION 9B OF INCOME TAX ACT Finance Act 2021, introduced a new section, section 9B under income tax act which specifies the provision related to transfer of Capital Assets or stock in trade on Reconstitution or Dissolution of […]
It was well settled position, before the amendments made by Finance Act 2021, that the depreciation can be claimed on ‘Purchased Goodwill’ under the Income tax Law and it was also supported by the decision of Hon’ble Supreme Court in the case of Jogta Coal Co. Ltd. v. CIT 36 ITR 521 where the treatment […]
International Management Vs National Faceless Assessment Centre (Delhi High Court) 1. The basis of addition was not furnished to the petitioner. He emphasizes that no draft assessment order was issued which is mandatorily required under the Faceless Scheme. 2. In a similar case being Smart Vishwas Society vs. National Faceless Assessment Centre Delhi (Earlier National […]
