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...
You’ve had a Long Term Capital Gain under the respective Section(s) of the Income Tax Act. Now, you must be wondering as to how you will save yourself from the Tax liability arising as a result of Capital Gain. Well, in order to save tax on Capital Gains, you might be required to do the […]
CBDT issues a Circular for Early and Satisfactory Resolution of Taxpayers’ Grievances Relating to Verification and Correction of Tax Demand Outstanding against them. The Income Tax Department has taken note of grievances of taxpayers arising on account of outstanding tax demand which may be inaccurate due to non-reporting or delayed reporting of TDS by deductors […]
The Union Finance Minister Shri Arun Jaitley, while responding to the discussions on the Finance Bill in Rajya Sabha on 7th May, 2015, had announced the constitution of a Committee headed by Justice A.P. Shah to look into the issue of Minimum Alternate Tax (MAT) on
What is high profit – while determine operating profit for the purpose of TNMM, we have to ascertain the profit earned by enterprise for the basis of comparison. Similarly, we have to ascertain the profit of Compare Company for the purpose of comparison. It is also a part of FAR Analysis.
Calcutta High Court held In the case of The CIT vs. M/s Carrier Air-Conditioning and Refrigeration that provision for warranty based on personal experience and past trends is an allowable expenditure. The division bench judgment in the case of Commissioner of Income Tax v. Majestic Auto Ltd.
CA Umesh Sharma Arjuna (Fictional Character): Krishna, Income Tax Department has introduced the provision of TDS deduction on the Interest of Fixed Deposits of Co-Operative Banks in the Financial Budget of 2015-16. What are its effects and who will they affect? It seems that a lot many people will be in trouble on rural India!
Recently, in the case of Rashmikant Kundalia and another vs Union of India and others, the constitutional validity of the fees being charged u/s 234E for delay in filing TDS returns was upheld by the Court of law, which primarily observed, that fees being charged for delay in filing of returns is in the nature […]
The price charged usually reflects the function that each enterprise performs (taking into account assets used and risk assumed). Comparability analysis of the controlled transaction for the enterprises participating in the controlled transactions provides a basis for characterisation of the controlled transaction to be benchmarked or the characterisation of the tested party Therefore, comparison of the functions
Finance bill, 2015 has received the presidential assent on 14th May 2015 and has now become Finance Act, 2015 (NO. 20 OF 2015) . All the provisions which were due to be effective from the date the Finance Bill receives the assent of the President have now been implemented w.e.f. 14th May 2015.
The High Court held that the assessee was bound to get its accounts audited under section 64 of the Kerala Co-operative Societies Act, 1969, and the delay in audit by the auditor appointed under the Act was not attributable to the assessee.
