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 : Explore the concept of agricultural income under Income Tax Act 1961, including definitions, exemptions, and conditions for income...
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 : 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...
Section 206C(1H) of Incoem Tax Act, 1961 is already applicable from 01-10-2020 and Section 194Q will be applicable from 01-07-2021 Article explains Section 206C(1H) and Section 194Q considering confusions prevailing currently in industry regarding TDS & TCS under both these sections. Article also contains PICTORIAL FLOW CHART OF INTERPLAY BETWEEN Section 194Q VS Section 206C(1H). […]
The Income Tax Department is going to launch its new e-filing portal www.incometax.gov.in on 7th June, 2021. The existing portal of the Department at www.incometaxindiaefiling.gov.in would not be available to taxpayers as well as other external stakeholders for a brief period of 6 days i.e. from 1st June, 2021 to 6th June, 2021. Taxpayers would […]
Salaried individuals are issued form 16 from their employersat the end of financial year. The details mentioned thereon are helpful in filing income tax return. This article attempts to explain everything a tax payer should know about form 16 before filing income tax return. It is to be noted that form 26AS is of utmost […]
Prima Facie some material is required not sufficiency or correctness for valid reopening u/s 147 We have only to see whether there was prima facie some material on the basis of which the Department could reopen the case. The sufficiency or correctness of the material is not a thing to be considered at this stage. […]
The Hon’ble Gujarat High Court in Trust For Reaching The Unreached Through Trustee v/s CIT [R/Special Civil Application No. 8977, 9370, 9760 of 2020 dated December 22, 2020] quashed and set aside the order rejecting the application for condonation of delay filed for exemption and held that an assessee being a public charitable trust who […]
Depreciation is calculated on the asset which is used for the purpose of business and/or profession. For claiming depreciation assessee should be the owner of asset. If such asset is partially owned then proportionate amount of depreciation is allowed to the assessee on the basis of his share in the asset. Depreciation is allowed if […]
Dharmendra Kumar Vs State of NCT of Delhi (Delhi High Court) A single judge bench of the Delhi High Court today directed that no authority shall stop any advocate in the NCT of Delhi from movement during the curfew period without an e-pass, ‘if he/she produces a valid identity card’ proving that he/she is […]
Shree Lakadipool Vitthal Mandir Vs CIT (Exemption) (ITAT Pune) In the present case, the objects of the trust are not doubted by the Department and they have also not disputed the charitable nature of the activities conducted by the assessee trust. Meaning thereby, all the relevant records were submitted before the Ld. CIT(Exemption) and he […]
The primary question sought to be dealt with in this article is whether an unregistered gift pertaining to immovable property is a valid gift in the case of Mohammedans. To answer this, relevant provisions of the Transfer of Property Act, 1882, the Registration Act, 1908, Mohammedan Law and judgments of various courts have been examined […]
After getting RAP from M.P. High court for extension of due date for complete disregard to Supreme Court order CBDT clarifies that for the purpose of counting the period(s) of limitation for filing of appeals before the CIT(Appeals) under the Act, the taxpayer is entitled to a relaxation which is more beneficial to him and […]
