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 the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
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 Court rejected the challenge to the search conducted under Section 132 and upheld the legality of the search proceedings. It, ...
Income Tax : The Tribunal held that the reassessment was invalid because the Income Tax Officer lacked pecuniary jurisdiction where the returne...
Income Tax : The Tribunal held that the assessment was invalid because the Assessing Officer having jurisdiction failed to issue the mandatory ...
Income Tax : The ITAT Kolkata held that the reassessment was invalid because the ACIT lacked pecuniary jurisdiction and completed the assessmen...
Income Tax : The ITAT Kolkata held that the assessments were invalid because the ACIT was not shown to have jurisdiction under CBDT Instruction...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
Synthite Industrial Ltd. Vs CIT (Kerala High Court) Admittedly, the assessee purchased the land which was a rubber estate. The land was purchased to utilize it for the non-agricultural purpose of expansion of its factory. The rubber trees in the land were slaughter tapped which is a process that immediately precedes the cutting and removal […]
If second borrowing has really been used to repay the original loan and this fact is proved to the satisfaction of AO, interest paid on the second loan would also be allowed as deduction under section 24.
The Income Tax Appellate Tribunal (ITAT), Hyderabad held that exemption under section 54(2) of the Income Tax Act, 1961 cannot be denied to the assesse for the mere reason that the assesse has invested the capital gain in a normal term deposit account instead of Capital Gain Scheme account.
This appeal by the Revenue is directed against the order of Commissioner of Income Tax (Appeals)-XX, Kolkata dated 28.08.2014. Assessment was framed by ACIT, Range-3, Kolkata u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the Act) vide his order dated 11.01.2013 for assessment year 2007-08. The grounds raised by the Revenue per its appeal are as under
Depreciation on right to collect toll being infrastructure and not on toll road, where cost incurred for development and construction of infrastructure facility was a right in nature of intangible asset falling within purview of section 32(1)(ii). Order of AO in amortizing expenditure over period of facility and allowing the same was reversed. AO was, thus, directed to allow claim of assessee vis-a-vis depreciation on intangible asset under section 32(1)(ii).
Definition of legal representative given in the Code of Civil Procedure, 1908 is inclusive in character and its scope is wide. It is not confined to legal heirs only. It may be a person who may or may not be the heir, competent to inherit the property of the deceased.
S. O. 2829(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, Gujarat Electricity Regulatory Commission, a Commission constituted under the Electricity Regulatory Commissions Act, 1998 , in respect of the following specified income arising to that Commission, namely:-
S.O. 2830(E).—In exercise of the powers conferred by sub clause (i) of clause (18) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, hereby specifies the gallantry awards for the purpose of the said section, mentioned in column (2) of the Table below, awarded in the circumstances mentioned in corresponding column (3) thereof.
S.O. 2826(E).—Whereas the Protocol amending the Agreement, signed at Ha Noi on the 7th day of September, 1994, between the Government of the Republic of India and the Government of the Socialist Republic of Viet Nam for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income
Chairman of CBDT Sushil Chandra said, the government main aim is to eradicate black money, lesser litigations and bring certainty in tax laws, said at an ASSOCHAM event held in New Delhi today.
