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 Madras High Court held that allegations regarding incorrect or incomplete disclosures in an election affidavit cannot be exami...
Income Tax : The ITAT Ahmedabad held that no disallowance under Section 14A can be made where the assessee did not earn any exempt income durin...
Income Tax : The ITAT Hyderabad held that excess application of income by a charitable trust can be adjusted against subsequent year's income i...
Income Tax : The ITAT Bangalore held that the return of income and Form No. 10DA were filed within the prescribed due date of 30.11.2018. It di...
Income Tax : The ITAT Ahmedabad held that merely describing a transaction as a loan by one party and a purchase advance by the other could not ...
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...
Notification No. 991/2015 – Income Tax G.S. R. 991(E).—In exercise of the powers conferred by the proviso to article 309 of the Constitution and in Supersession of the Ministry of Finance, Department of Revenue, Income Tax Department (Group C Post), Recruitment Rules, 2003 relating to Notice Server except as respects things done or omitted to be done before such supersession, the President herby makes the following rules
A number of legislative measures were introduced through the Finance (No.2) Act, 2014 and similarly, Finance Act, 2015 to promote growth, investment, manufacturing and job creation. These are expected to improve ease of doing business, bring about clarity in tax laws, and resolve disputes.
Income Tax Circular No. 22/2015 W.c.f. 1.4.1988, the settled position is that if the assessee deposits any sum payable by it by way of tax, duty, ecss or fee by whatever name called under any law for the time being in force, or any sum payable by the assesse as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employees, on or before the ‘due date’ applicable in his case for furnishing the return of income under section 139(1) of the Act, no disallowance can he made under section 43B of the Act.
In exercise of powers conferred under section 119 of the Income-tax Act, 1961 read with section 6 and section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (‘Act’), the Central Board of Direct Taxes, with effect from 18th December, 2015 and until further orders, hereby directs that for the purposes of making declaration of undisclosed foreign assets under section 59 of the said Act and matters related thereto, Shri Rahul Navin, CIT(TP)-1, New Delhi shall be the designated Income-tax authority.
ITAT Mumbai held in Goldman Sachs( India) Securities Pvt. Ltd Vs The DCIT that only functionally comparable company should be compared for comparing the margin percentage of the assessee company with comparable company.
ITAT Kolkata held in the case of DCIT Vs Shri Subhotosh Majumder that the amended law of the deduction of tax at source of services which were to be utilized in India would be taxable in India would not have retrospective effect on the tax liability of withholding taxes.
ITAT Mumbai held in Punjab & Sind Dairy Products Pvt Ltd Vs Dy. CIT that in the case of assessee itself in earlier year, ITAT had rejected the books of accounts on the basis that assessee failed to produce books of accounts as demanded by ITAT.
ITAT held in M/s F.C Sondhi & Co.(India) P Ltd Vs The DCIT that the premium paid on the keyman Insurance Policy would be allowed as a business expense because the same had been paid for the growth
In case of DIT (E) Vs. M/s Jasubhai Foundation, BOmbay High Court upheld the decision of ITAT in which it was held that section 10 and section 11, though mentioned in same chapter, but conditions mentioned in both sections are mutually exclusive from each other.
ITAT Delhi held in case of ACIT Vs. PTC Industries Ltd. ITAT held that when expenditure claimed is genuine then penalty u/s 271 (1) (c) cannot be levied. ITAT relied upon the decision of Hon’ble Supreme Court in the case of CIT Vs. Reliance Petro Product Pvt. Ltd. (2010) 36 DTR 449 (SC) wherein it was held that merely because of the assessee’s claim
