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 Income-tax Act, 2025 has officially replaced the Income-tax Act, 1961 from 1st April 2026. The new law focuses on simplified l...
Income Tax : The Income Tax Act 2025 has overhauled the 1961 law by introducing new section numbers, a unified “Tax Year,” and simplified c...
Income Tax : The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendme...
Income Tax : The ITAT Surat held that agricultural land qualifies as “immovable property” under Section 56(2)(x) since the provision covers...
Income Tax : Businesses now face stricter seller-wise tracking, PAN verification, and reconciliation obligations under TDS on purchase provisio...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The Madras High Court held that membership fees received for long-term time-share agreements could not be fully taxed in the first...
Income Tax : The ITAT Chandigarh held that reassessment proceedings initiated under an incorrect and obsolete PAN suffered from a jurisdictiona...
Income Tax : ITAT Delhi deleted transfer pricing adjustments after holding that retail and after-sales businesses could not be compared with wh...
Income Tax : The Bombay High Court held that penalty proceedings under Section 271-D cannot continue independently when the appeal against the ...
Income Tax : The ITAT Ahmedabad restored reassessment proceedings after the assessee produced documents showing disputed property sales and pen...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
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...
The Calcutta High Court held that Section 263 cannot be invoked merely due to disagreement with the Assessing Officers view. Since the AO conducted proper inquiry and followed CBDT instructions, revision was quashed and LTCG treatment on unlisted shares was upheld.
This analysis explains how employer-leased cars reduce taxable salary since only a prescribed perquisite value under Rule 3 is taxed instead of full lease cost. It highlights significant tax savings despite minor perquisite additions.
Free products, sponsored trips, and non-cash perks are now taxable under Section 194R if their value exceeds ₹20,000 annually. Brands must deduct 10% TDS, and creators must report the income in their ITR.
IRS rules strictly require S Corporations to maintain a single class of stock and comply with passive income thresholds. Violations can trigger termination of S status and reclassification as a C Corporation.
The Supreme Court issued notice on whether delay in filing ITR can be condoned under Section 119(2)(b). The High Court had refused relief, holding that internal director disputes do not constitute genuine hardship.
A doctrinal analysis of unexplained cash credits, investments, and expenditure under Sections 68–69D. Explains burden of proof and strict taxation under Section 115BBE.
The digital tax reform eliminates physical interaction but faces criticism for procedural lapses. Courts stress fairness and adequate hearing in assessments.
Diversifying income into earned, business, and passive streams increases tax complexity. Strategic planning across all three can significantly lower your blended tax rate and boost long-term wealth.
A structured guide to Sections 15–17 covering salary components, perquisites, and deductions. Explains exemptions, TDS rules, and relief provisions clearly.
Draft Income-tax Rules 2026 mandate Form 5 for preliminary expense statements under Section 44 and Form 6 for audit reports under Sections 44 and 51. The rules clarify timelines, formats, and filing authorities to ensure compliance.
