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 article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
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 : The ITAT Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
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...
Statement under section 132(4) alone cannot be considered as incriminating material unless any corroborating incriminating material is found during the course of search from the premises of the assessee.
Rajputana Stainless Limited Vs Union of India (Gujarat High Court) Facts- A notice alleging clandestine manufacture and clearance of finished goods during the period from 2012-13 to 2015-16 based on various statements recorded under section 14 of Central Excise Act. It included the statement of buyers and some of those buyers denied of having received […]
HOW TO SAVE MONEY WITHOUT INVESTMENT The income tax department have provided various deductions and exemptions to the taxpayers that can be subtracted from the taxable income under chapter VI A under Section 80 to reduce the burden of tax. Among all, There are deductions which you get with investment, but there are also some […]
Every betting and gambling in India is controlled by the Public Gambling Act, 1867, that forbids all form of gambling activities and also betting on games of chance. The Act does not cover any type of provision which is related to online gamble. Also, there is no particular law for online gambling in India. Online gambling can be of any type such as crossword, card games etc.
STRUCTURE OF FORM 26AS: Part A: This part contains all the details of TDS and in this there are Part A1 which contains the details of TDS for Form 15G or Form 15H, then there is Part A2 contains the details of TDS on sale of Immovable Property that is under Section 194(IA).
Explore the ITAT Bangalore case of Anand Sweets vs DCIT. Learn about the disallowance of employees’ contribution, legal arguments, and the victory for the assessee.
t is informed that the functionality in ITBA for passing Give Effect Orders through Web Service on Processing u/s 143(1) of the Income-tax Act’ 1961 for A.Y. 2016-17 was deployed earlier. Now functionality for Give Effect on Assessment through Web service for A.Y. 2016-17 is also live in ITBA w.e.f. 29.10.2021.
CBDT notifies vide Notification No. 134/2021- Income Tax, Dated: 06.12.2021 that Jeevan Akshay-VII Plan of the Life Insurance Corporation of India qualifies for deduction under section 80C of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 6th December, 2021 Notification No. 134/2021- INCOME–TAX S.O. 5056(E).—In […]
The Income Tax Department initiated search action on 24.11.2021 on a taxpayer in Delhi who has created a beneficiary trust and an underlying company in low tax overseas jurisdiction. The residence and business premises of the assessee were covered in the search action.
PCIT Vs Servants of People Society (Delhi High Court) A perusal of the paper book reveals that the assessee/society is running a printing press and publishing a newspaper. The profit so generated is used for charitable purposes and apparently there is no profit motive in the activities of the assessee. As such it cannot be […]
