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 : Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and...
Income Tax : Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime sugges...
Income Tax : Learn the importance of show-cause notices, their legal implications, and how to respond effectively to protect your rights. Explo...
Income Tax : Delhi HC quashes reopening of tax assessment, ruling that technical delay in e-filing Form 10 before assessment completion is unju...
Income Tax : Learn about income tax deductions on home loans, including benefits under Sections 24, 80C, 80EE, and 80EEA. Understand eligibilit...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : Delhi HC held that the settlement consideration as received was liable to be recognized as capital gains and the same couldn’t p...
Income Tax : Delhi High Court held that passing of order by the revenue under section 148A(d) of the Income Tax Act on the basis of fresh groun...
Income Tax : ITAT Ahmedabad held that genuineness of transaction, creditworthiness and identity of creditors not proved, hence addition u/s. 68...
Income Tax : ITAT Indore held that rejection of appeal by CIT(A) on the footing of non-payment of advance tax as required by section 249(4)(b) ...
Income Tax : Telangana High Court held that notice issued u/s. 148 of the Income Tax Act must comply with the requirement of the Scheme whether...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...
Notification: S.O.2913 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
It is hereby notified for general information that the Northern India Textile Research Association, Ghaziabad has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961. This notification is effective from 1st April, 1974.
Circular No. 146-Income Tax Attention is invited to the Board’s Circular No. 47 [F. No. 9/100/69-IT(A-II), dated September 21, 1970] [Clarification 3] on the above subject. In this circular, the Board had considered the question as to whether provision made by an assessee in its accounts for estimated service gratuity payable to its employees could be allowed as a deduction even though no approved gratuity fund under the
Amount of the unpaid price cannot be said to be a loan advanced by the non-resident company to the assessee-company nor can be the non-resident company be said to be a lender to the assesse-company so far as that amount was concerned. Since the non-resident company cannot be said to have lent the amount of the unpaid purchase price to the assessee-company either in cash or in kind
Notification: S.O.567(E) This notification contains Amendments (Third Amendment) to Income-tax Rules carried out on 21st September, 1974 not reproduced here as it is already contained in the body of the rules itself
In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Kerala State Textiles Corporation Ltd., Cochin, for the purposes of the said sub-clause
It is hereby notified for general information that the Physical Research Laboratory, Ahmedabad has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961. This notification is effective from 1st April, 1974.
Circular No. 145 – Income Tax Under section 10(6 )(viia), foreign technicians having specialised knowledge and experience in constructional or manufacturing operations or in mining or in the generation of electricity or any other form of power, or in agriculture, animal husbandry, dairy farming, deep sea fishing or ship building enjoy special concession in certain cases. One of the important conditions for availing of the tax concession is that the foreign technician should not have been a resident of India in any of the four financial years immediately preceding the financial year in which he arrives in India.
Circular No.144 – Income Tax Under the existing provisions in section 80T and section 115, long-term capital gains, i.e., capital gains arising from the transfer of a capital asset which is held for more than 60 months from the date of acquisition, are charged to tax on a concessional basis. In the case of taxpayers other than companies the concession is allowed by deducting a specific proportion of the long-term capital gains in computing the taxable income of the
Notification: S.O.2483 It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research, the prescribed authority
