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...
The Special Judge for CBI Cases, Coimbatore has convicted Shri N.Gopalsamy, then Income Tax Officer and Shri C.U.Ashokan, Income Tax Inspector, Tirupur and sentenced them to undergo two years Rigorous Imprisonment in a bribery case.
In the last few years the Government of India has taken many steps in order to strengthen the Transfer Pricing (Taxation) regime in India. A series of amendment has been introduced in order to enhance the ambit of tax base and consequent increase in the revenue. The latest step in this direction was the extension […]
Petitioners have prayed to declare the newly inserted proviso to Section 115JB(6) and 115-O(6) of the Income Tax Act in the second schedule to the Special Economic Zones Act 2005 as ultra vires, arbitrary, unfair and violative of Article 14 of Constitution of India.
It has been decided with the approval of the Competent Authority to revise allocation of subjects amongst the five Branches of Investigation Division. The revised work allocation chart is enclosed herewith. (Nikhil Varma) Under Secretary to the Government of India
As advised by Income Tax Department: TIN will accept TDS/TCS statements only pertaining to Financial Year 2007-08 and onwards. Statements for Financial Years upto 2006-07 will not be accepted at TIN. Acceptance of ‘Y’ type of correction TDS/TCS statements have been discontinued at TIN The above is with effect from July 1, 2013.
ICAI has released the Revised Guidance Note on Tax Audit u/s 44AB of the Income-tax Act, 1961- Revised 2013 Edition on 09th July 2013. The last edition of this Guidance Note was brought out in the year 2005. Thereafter, a number of amendments were made in the Income-tax Act, 1961 which had a great bearing […]
The CBDT issues instructions with respect to processing of Income-tax returns and giving credit for TDS thereon in the case of TDS mismatch. A few of the instructions on this subject issued in previous years are Instruction No. 1/2010 (25-2-2010) for returns pertaining to A.Y, 2008-09; Instruction No. 05/2010 (21-7-2010), Instruction No. 07/2010 (16-8-2010) and Instruction No. 09/2010 (9-12-2010) for returns pertaining to AY. 2009-10; Instruction No. 02/2011 (9-2-2011) for returns pertaining to A.Y. 2010-11; and Instruction No. 1/2012 (2-2-2012) and Instruction No. 04/2012 (25-5-2012)
Assessee, owner of a residential property, entered into a development agreement for construction of flats with a developer. Under agreement, assessee received 7 flats towards his share. He claimed exemption u/s 54F on the entire amount of capital gain.
CA Sudhir Halakhandi We have been given some of the very important rights by our law makers in recent years such as Right to information, Right to education and the newly introduced right to food (Recent Food security Bill). These all are recently introduced fundamental right of the citizens of the country. In a democratic […]
Assessee has sold/transferred a lease hold landed property at 36, SSGT road, Industrial area, Ghaziabad at a consideration of Rs.3,25,00,000/- to Sara exports Ltd. The said lease hold property was acquired by the assessee way back in 1971 as per the original elase deed dt. 26.8.71
