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...
Section 194O of the Income Tax Act, 1961 (Act), introduced by the Finance Act, 2020, effective from October 1, 2020 mandates the following, which warrants a definite relook into the provisions for appropriate amendments/deletions thereof :-
Considering the recent amendments in Income Tax Act, distribution to shareholder / promoter has become challenging, specifically post introduction of section 2(22)(e). The most viable options to distribute / pull out funds for promoter are incentive pay-out, dividend distribution and buy-back. It is worthwhile to note that dividend income is now taxable in hands of […]
Assessee produced all books of account, vouchers, bills and other documents but AO without pointing out any mistake and error in the bills/vouchers and without rejecting books of account, made addition @8%. On basis of suspicion and conjectures that assessee might be inflating its expenses and showing net profit ratio at a very low rate. Therefore, ends of justice would be met, if net profit rate of 2.50% was adopted.
As we know that the amended section 87A of Income Tax Act 1961, applicable for the FY 2019-2020 provides COMPLETE tax rebate to those having income less than 5 lacs. It raises concerns for those having income around 5 lacs. The worst hit are those having income just above the prescribed limit, say, 5,01,000 because […]
The issue under consideration is whether decision based on a debatable point of view can be treated as a mistake apparent from the record?
The issue under consideration is whether the provisions of deduction of tax at source (TDS) would be applicable in case of payments made to non-resident Indian for the purchase of raw materials?
Applicability, rate of tax & Tome of Deduction for TDS under Section 194IA on Sale of Immovable Properties -Any transferee responsible for paying any sum of consideration to a resident transferor on transfer of immovable property (other than agricultural land) -Need to deduct TDS on such sum. -Rate of Tax – 1% -TDS is need […]
The issue under consideration is whether the assessee is entitled to claim exemption u/s 54F of the Income Tax Act in respect of investment made in the house property in USA?
Infosys Ltd. Vs The ACIT (ITAT Bangalore) The issue under consideration is whether the stay application seeking an extension of the stay approve by the Tribunal? In the present case, the assessee submitted that the appeal had been fixed for hearing on January 20, 2020, when the earlier stay order was passed. Thereafter, the case […]
The issue under consideration is whether the CIT(A) is correct in upholding IDC receipts as normal trading receipts ignoring that the money belongs to state government?
