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 : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
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 Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : Bangalore ITAT held that allegations of capitation fee collections could not justify denial of exemption under Sections 11 and 12 ...
Income Tax : ITAT Pune held that reassessment proceedings were invalid because the approval under Section 151 was granted by the Principal Comm...
Income Tax : ITAT Delhi held that Section 56(2)(viib) could not be invoked where shares were allotted at a premium to a 100% holding company. T...
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...
Computer Assisted Scrutiny Selection (CASS) 2020 Cycle for ITRs of A.Y. 2019-20 for the current year has been finalized. The Board has approved the parameters for selection of cases and cases are visible to the Assessing Officers.
Vijay Mohan Harde Vs ACIT (ITAT Pune) A copy of the notice issued u/s 274 of the Act has been placed in the appeal folder, from which it is discernible that the AO did not strike off either of the two limbs viz., concealed the particulars of income or furnished inaccurate particulars of such income, […]
Article on Reopening of Assessment Beyond Period of Four Years when Assessment Already Finalised Under Section 143(3) and All Material Facts Disclosed During Assessment Proceedings It is a trite law that when a statute provides a particular thing to be done in particular manner then the same has to be done in that manner only […]
If you want to sell your house property there are certain income tax implications that will help you to save your tax and help to build a better decision about selling your house. 1. If a property is sold within three years of buying it, any profit from the transaction is treated as a short-term […]
This is my 1st article and I covered very interesting topic ‘Old Vs New Tax regime‘ because after becoming Chartered accountant my relatives and friends ask which tax regime they should choose. Here we covered the following points – 1. Applicability 2. Tax Rate Structure 3. Exemptions & Deductions 4. Other Points 1. Applicability :- […]
Case Analysis on Cairn v. India: International Commercial Arbitration with special reference to United Kingdom-India Bilateral Investment Treaty Background On January 20th 2012, the Supreme Court of India gave its verdict in the Vodafone case. The case was regarding tax invasion in regards to capital gains in lieu of sale of shares. The court held […]
The Central Government introduced the Faceless Assessment Scheme to provide greater transparency, efficiency and accountability in Income Tax assessments. All provisions introduced under Faceless Assessment, under the Income Tax Act, 1961, are introduced to- (a) Eliminate the interface between the Assessing Officer and the assessee during the course of proceedings, to the extent that is […]
ACIT Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (Supreme Court) Assessment order or an intimation u/s 143(1) of the Income tax Act , 1961 as it stood prior to amendment wef 1.4.1989 and thereafter and further amendments made . A broad analysis has been extracted from the judgement of the Hon’ble Supreme Court of India […]
Tax compliance season for Income Tax Return filing of A.Y. 2021-22 is on the way and thus, it is pertinent to note key amendments made in the Finance Act, 2021 which are applicable with effect from Assessment Year 2021-22. We have discussed some key amendments introduced in the Finance Act, 2021 in this article; which […]
Messrs Mehta Parikh & Co vs The Commissioner Of Income-Tax, Bombay (Supreme Court of India), Date Of Judgment: 10/05/1956, Equivalent citations: 1956 AIR 554, 1956 SCR 626 Bench: Natwarlal H. Bhagwati | Sudhi Ranjan Das (CJ) | T.L. Venkatarama Aiyyar Income-tax-Income from undisclosed sources-Assessment. Assessee’s explanation based on accounts supported by affidavits Accounts accepted as […]
