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...
28,537 TANs of Government deductors filed their quarterly TDS statement late. 97 Deductors of Income Tax Department have files their quarterly TDS statement late during period from 01.07.2012 to 01.03.2014.
The introduction of the Real Estate Regulation Bill, which foretells the government’s desire to promote the real estate sector, will abort the torment of Indian real estate. Globally REIT is well developed phenomena, serving dual purpose of providing investor with alternative investment avenue. Initially it was introduced in the US in the 1960s.
The National Pension System (NPS) reflects Government’s new effort to find a suitable & sustainable solution to the problem of providing adequate retirement benefits to the people at large. As a first step towards initiating this, Government of India moved from a defined benefit pension to a defined contribution based pension system by making it mandatory for its new recruits (except armed forces) with effect from January 1st, 2004.
The recently appointed Finance Minister of India, Mr. Arun Jaitley, faced with the various challenges of reviving the growth of the ailing Indian economy, ever ballooning fiscal deficit, high inflation and standing to fulfill the promises made by the newly elected NDA government in their election manifesto, appears to have maneuvered the way to spur […]
Information has been received from several quarters that emails are being received by taxpayers claiming to be sent by the Income Tax Department asking the taxpayers to download file containing payable tax details. Such phishing mails are being sent from email addresses like “incometaxindia.gov.india@gmail.com”.
While it could be said that the Union Budget 2014-15, the first of the present Government may be considered as a balanced exercise in the given circumstances, it provides impetus to real estate, infrastructure and social development including improved urban cities.
Under section 40(a)(ia) of the Act, in case of payments made to resident, the deductor is allowed to claim deduction for payments as expenditure in the previous year of payment, if tax is deducted during the previous year and the same is paid on or before the due date specified for filing of return of […]
The Tribunal while upholding the levy of penalty had concluded that the assessee had failed to substantiate that the gift received was genuine. The plea of the assessee that the gift was received due to his financial difficulty was also negated on appreciation of material on record.
Taxpayers would get more from their housing loans. Ceiling of deduction on interest on housing loan is proposed to be increased from Rs. 1.5 lakh to Rs. 2 lakh in respect of self-occupied houses. For those who are paying high amount of interest, the additional tax savings would be up to Rs. 15,450.
Taxability of advance for transfer of a capital asset The existing provisions contained in section 56 of the Act provide that income of every kind which is not to be excluded from the total income under the Act shall be chargeable to income-tax under the head “Income from other sources”, if it is not chargeable […]
