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 ITAT Hyderabad held that payments made for Google AdWords constitute advertising contracts under Section 194C and not fees for...
Income Tax : The ITAT Mumbai held that penalty under Section 270A cannot be sustained where the show cause notice and assessment order fail to ...
Income Tax : The ITAT Lucknow upheld deletion of the addition after finding that the cash deposits represented business receipts arising from d...
Income Tax : The ITAT Delhi deleted the addition under section 69A after finding that the assessee had substantiated the source of the jeweller...
Income Tax : The ITAT Raipur upheld the disallowance of 12.5% of disputed purchases after finding that the assessee failed to establish the act...
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...
Rules to The Finance Act, 2016 states that with effect from July 1, 2016, equalization levy @ 6% should be deducted by a resident or non-resident (having permanent establishment in India) on the amount of consideration paid or payable to the non-resident not having permanent establishment in India.
The Income Declaration Scheme, 2016 is a part of the Finance Act, 2016. This scheme provides an opportunity to persons who have not paid taxes in full for previous years to declare their undisclosed income for such previous years and pay taxes thereon. The said tax payment has to be made to the Government Account using INCOME DECLARATION SCHEME, 2016 CHALLAN (Challan No./ITNS 286).
The word ‘tax’ troubles every salaried individual and business person, equally. Nobody likes when a portion of their income gets deducted in the form of tax. Therefore, individuals that fall in the tax bracket, choose certain tax-saving schemes like PPF, Mutual Funds, and tax-saving FDs, life insurance, Mediclaim policy or property investmen
CBDT notifies 9 districts in the State of Telangana, 11 Districts in the State of West Bengal and 17 Districts in State of Bihar as backward areas under the first proviso to clause (iia) of sub-section (1) of section 32 and sub-section (1) of section 32AD of the Income Tax Act 1961
CBDT has amended Income Declaration Scheme Rules, 2016 to amended form 1 related to deceleration of undisclosed Income and incorporated option to file Revised Return under the scheme. In case of revised return the declerant has to mention Receipt No. and Date of filing original Form-1 and Reason for Filing Revised Form 1.
The date on or before which the tax and surcharge is payable under section 184, and the penalty is payable under section 185 in respect of undisclosed income shall be as follows, namely:- (a) the 30th day of November, 2016, for an amount not less than twenty-five per cent. of such tax, surcharge and penalty;
Interest income on investments of Service Co-operative Banks is business income eligible for deduction u/s 80P(2)(a)(1) and not income from other sources. SC decision in Totgar case not applicable in this case.
Show cause notice under section 274 not spelling out the specific ground on which penalty under section 271(1)(c) was sought to be imposed, was defective and, therefore, penalty was deleted.
The following postings / transfers in the grade of Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders vide Order No. 135 of 2016
F.No. A-22011/5/2016-Ad-VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi-110 001. Date: 20.07 2016 Order No. 134 of 2016 The following postings / transfers in the grade of Principal Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:- Corrigendum to […]
