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...
DCIT Vs Shree Venkatesh Associates (ITAT Pune) The issue of pro-rata deduction u/s. 80IB(10) for eligible units has been considered by the jurisdictional ITAT, Pune in case of Ramsukh Properties (supra) and M/s D.S. Kulkarni Developers Ltd (supra) and IT AT, Nagpur in case of AIR Developers(supra) and allowed such pro-rata deduction. The ITAT, Mumbai […]
(1) This Act may be called the Indian Medicine Central Council (Amendment) Act, 2020. (2) It shall be deemed to have come into force on the 24th day of April, 2020.
In order to ensure the reforms initiated by the Department to eliminate human interface from the system, the Hon’ble Finance Minister had extended the faceless assessment proceedings to CIT(A) proceedings in the Union Budget 2020. Accordingly, amendments were made in section 250 of the Income-tax Act, 1961 (‘the Act’) in order to enable the Central […]
Shri Bhuwan Goyal Vs DCIT (ITAT Chandigarh) Landmark Chandigarh ITAT order on Section 115BBE on investment made out of undisclosed business income held not to fall in Section 69 & 115BBE (AY 17-18). In the present case it is not in dispute that the assessee surrenderd the income of Rs. 3.64 Crores in the statement […]
Exordium The issue that whether or not ‘Education Cess’ is allowable as deduction under the Income-tax Act, 1961 (‘the Act’) is debatable for a while now. Of late this issue has been decided in favour of the taxpayers by many Tribunals and High Courts. This article succinctly discusses this issue through provisions of the Act […]
Intricacies of TCS on Sale of Goods From 1st October 2020 – Part 1 This video discusses : 1. Analysis of Sec 206C(1H) of Income Tax 2. Effect on Invoicing from 1st October 2020 3. TCS on GST OR GST on TCS 4. TCS on Stock Transfers 5. Buyer Categorization Issue in ERP 6. Probable […]
Whether by virtue of the provisions of Section 196, can TDS under Section 194O be avoided in case the seller or the service provider is the Government.
Taaq Music Pvt. Ltd Vs ITO (ITAT Bangalore) The law provides that, the fair market value may be determined with such method as may be prescribed or the fair market value can be determined to the satisfaction of the Assessing Officer. The provision provides an Assessee two choices of adopting either NAV method or DCF […]
The CBDT is launching the Faceless Assessment in various direct & indirect tax procedures from today as announced earlier as promulgated by Prime Minister Narendra Modi as the income-tax appeals are all set to go faceless from Friday. Further, the income tax department has already enunciated PAN-India faceless assessment facilities for all taxpayers from August 13. The Centre hopes that the faceless system will […]
One of the draconian facet of the amended Prohibition of Benami Property Transactions Act, 1988 is the provisional attachment provided under Section 24 of the PBPT Act. In this piece we will discuss the prerequisites for valid provisional attachment under Prohibition of Benami Property Transactions Act, 1988.
