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 : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...
Income Tax : This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exem...
Income Tax : This article explains why ELSS redemption gains are taxable despite offering tax deductions at the time of investment. It highligh...
Income Tax : Learn how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...
Income Tax : The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and ...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : ITAT Delhi held that cash deposits arising from recorded and accepted cash sales cannot be added as unexplained cash credits under...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures cannot be equated with call options and that no option premium arose fro...
Income Tax : ITAT Bangalore held that RBI's classification of compulsorily convertible debentures as equity for FDI purposes cannot determine t...
Income Tax : ITAT Delhi held that no disallowance under Rule 8D(2)(ii) could be made where investments yielding exempt income were financed fro...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures retain their character as debt until conversion into equity. It deleted ...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
ITAT Mumbai held that income from shareholders account is to be taxed as a part of life insurance business as assessee is carrying on only life insurance business.
Activities concerning goods come under the definition of business whereas activities concerning services can come either under business or under profession. It is important to note that under the Income Tax regime, the definitions of ‘business’ and ‘profession’ are inclusive. This means that the Income Tax Act does not have clear-cut guidelines which categorises the services under business or profession.
Explore the complexities of Capital Gain Tax on the sale of properties. Learn about Long Term Capital Gain (LTCG), Short Term Capital Gain (STCG), and exemptions under Income Tax Act, 1961. Understand the significance of indexation, Cost Inflation Index (CII), and conditions for claiming exemptions like Section 54. Discover how tax implications can be reduced through proper planning and adherence to statutory requirements.
ITAT in Piyushbhai Mangalbhai Patel Vs ITO has deleted the addition of Rs. 12,70,000/- observing that personal savings of government employees could not be suspected for several years.
ITAT Kolkata held Long Term Capital Gain (LTCG) for sale of equity shares as bogus and accordingly not eligible to exemption u/s. 10(38) of Income Tax Act, 1961.
ITAT Hyderabad held that expenditure incurred for construction/acquisition of new facility which was subsequently abandoned at work-in-progress stage was allowable in year of write off as incurred wholly and exclusively for purpose of business.
ITAT Bangalore held that as the additional income offered is considered as business income, remuneration u/s. 40(b)(v) of the Income Tax Act is available on the same.
ITAT Pune held that as the business of amalgamating company continues uninterruptedly by amalgamated company, the benefit of carry forward and set off earned by amalgamating company is available to amalgamated company.
Held that there is no concept of deferred revenue expenditure but the assessee is entitled to depreciation on the assets so capitalized and put to use for the software services related to health care.
Office Order No. 274 of 2022 – Transfer/postings of 48 officers in the grade of Commissioners of Income Tax/Directors of Income Tax
