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 High Court held that failure to pass the order giving effect within the time prescribed under Section 153 resulted in abatemen...
Income Tax : The Madras High Court held that unexplained trade credits falling under Section 68 cannot qualify for deduction under Section 80-I...
Income Tax : The Tribunal restricted the Section 14A disallowance to exempt income and deleted additions relating to bad debts, tea and coffee ...
Income Tax : The ITAT held that the CPC could not make adjustments under Section 143(1) without first issuing the mandatory intimation to the a...
Income Tax : The ITAT Mumbai held that Fees for Technical Services were taxable at 10% under section 115A(1)(b) since the RBI's automatic appro...
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...
Government accepts the Recommendation of the Justice A.P. Shah Committee to clarify the Inapplicability of MAT to FIIs/FPIs and has decided that an appropriate Amendment to the Income-Tax Act will be carried out; Final Report of the Justice A.P. Shah Committee on Direct Tax Matters Constituted with the Initial Mandate to Examine the Matter Relating […]
Foreign investors will be exempted from paying minimum alternate Tax (MAT) prior to April 2015 following acceptance of AP Shah Committee’s recommendation by the government. The AP Shah Committee report has suggested that there is no legal basis to impose MAT on FIIs
I’m not able to register, as I get an error message Invalid PAN details. What should I do? A: It is possible that you’re typing in the Name details differently from what you have mentioned while applying for PAN card. Please call ASK, 1800 180 1961 and get the correct details and then try registering in the e-Filing application.
In the case of Shri Hasmukh N. Gala vs. ITO, ITAT has held that if assessee has invested substantial amount in new property, also received letter of allotment for new property then AO can’t denied exemption available u/s 54 of the Income Tax Act 1961.
In terms of Section 2(22)(e) of the Income Tax Act, 1961, dividend” includes any payment by a company, not being a company in which the public are substantially interested, of any sum (whether as representing a part of the assets of the company or otherwise) made after the 31st day of May, 1987, by way of advance or loan:
Komal Tyagi ⇒ It extends to whole of India & shall come into force on the 1st day of April 2016. ⇒ Basis of charger – There shall be charged on every assessee for every assessment year commencing on or after 1st day of April’16, a tax in respect of his total undisclosed foreign income […]
In this article we have summarised the status of Writ Petition filed against non extension of Due date of Tax Audit and Income Tax Return (ITR) filing for cases covered under Tax Audit Provisions, filed in various High Courts All over India. Till Date as per our information Writs been filed in Gujarat, Delhi, Jodhpur, Karnataka, Orrisa, Mumbai, Calcutta, Madras, Andhra Pradesh & Telangana and in Punjab & Haryana High Court.
DCIT vs. M/s Garware Polyester Ltd. (ITAT Mumbai) The Assessing Officer does not have the power to tinker with such accounts prepared as per Schedule VI and certified by the Auditors except for the adjustments permissible by Explanation to Sec 115JB to arrive at book profits
The ITAT Bangalore in the case of M/ s Sigma Aldrich Chemicals P. Ltd. held that when short landing of goods is common having regard to the nature of goods and such loss is negligible , then it has to be allowed deduction as business expenditure.
Taxpayers are requested to go to “Profile Settings –> Link Aadhaar” after logging to their account to link their Aadhaar with PAN. This is an optional feature that will enable taxpayers to e-Verify their Income Tax return if their Aadhaar-PAN linking is successful and if they have an valid mobile number registered with Aadhaar. Electronic […]
