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 : Section 50AA overrides the normal holding period rules and deems gains from specified assets as short-term capital gains, even if ...
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 : 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 : Receipts earned by a German resident individual from rendering managerial, consultancy and business development services outside I...
Income Tax : The Tribunal ruled that proceedings initiated under the old Section 153C framework after the Finance Act, 2021 amendments were leg...
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 : 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 assessees must be given an opportunity to file response or reply and the reply will be considered and examined by the Assessing Officer before any direction for adjustment is made. The process of issue of prior intimation and service thereof on the assessee will be as per the law. The assessees will be entitled to file their response before the Assessing Officer mentioned in the prior intimation.
The Directorate of Income-tax has informed vide letter dated 27.08.2012 that the Finance Minister has approved utilization of 1% incremental revenue earned during F.Y. 2009-10 amounting to Rs, 80.63 crore. The amount has to be utilized for enhancing organizational efficiency, infrastructure and wherewithal. The Officers have been requested to forward their suggestions for utilization of the funds by 15th September, 2012. It has been clarified that the funds will be used for schemes that result in enhancing organizational efficiency, infrastructure and wherewithal of Income Tax Department and not for welfare schemes of employees.
Admittedly, assessee was in the business of selling jewellery and it was also purchasing old gold and old diamonds from its customers, who wanted to exchange their old jewellery with new jewellery. Contention of the assessee that it was not effecting any cash purchase from its customers, has not been effectively rebutted. Case of the assessee is that it was effecting purchase of old jewellery from customers who were willing to buy new jewellery from the assessee
Letter[F.No.187/12/2010-ITA.1] The present criteria for jurisdiction is based on CBDT Instruction No. 1/2011 dated 31.01.2011 read with Instruction No 6/2011 dated 8.4.2011 and subsequent clarification dated 8.12.2011. A view was expressed to suitably revise the same so that equitable distribution of workload could be ensured among the Assessment Officers. The hon’ble FM, during the deliberation had desired that the field authorities should send their recommendations to CBDT without delay so that the needful could be done.
Free eBook on Audit, Inspection & Enforcement under Delhi Value Added Tax, 2004. This Book deals with Section 58 to 65 (amended upto 18-06-2012) of DVAT Act, 2004 read with Rules 22, 23, 41, 43 and 46 of DVAT Rules, 2005. These give power to the department for proper enforcement of the Act, audit of the accounts of the dealer, inspection of records, power to enter premises and seize records and goods, power to stop, search and retain goods and deals with the custody and release of records, disposal of goods, goods vehicle and security.
eBook covers various complex topics such as Tax Audit, TDS, HUF and Capital Gains. Book provides brief analysis of various complex issues falling under the above mentioned topics duly supported by latest relevant judicial pronouncements and provisions of law.
In eBook on Survey, Search & Seizure under Income Tax Act, 1961 author has made every effort to compile all the latest developments in the field of Survey, Search & Seizure, which includes the prevalent law, its analysis, gist of significant judicial pronouncements of various courts, Frequent Asked Questions (FAQs), Performa’s of Panchnama & various forms and Important Circulars/ Notifications/ Press Notes, in updating the law. The book covers the following Topics.
Free Handbook covers the following Topics – 1. Introduction 2. Evolution and Growth of Charitable Organisations in India 3. Meaning of Charitable Organisation 4. Laws governing Charitable Organisations in India 5. Formation and Registration of the various forms of Charitable Organisations
Meaning of Charitable Purpose – Section 2(15). Income from Property held for Charitable Religious Purpose – Section 11. Capital Gains deemed to be Applied for Charitable /Religious Purpose – Section 11(1A). Consequences if Income not applied for Specific Purpose – Section 11(1B). Exemption if Income accumulated for Specific Purpose – Section 11(2). Application of Income Outside India.
Dividend General Meaning – • ’Dividend’, in its ordinary connotation, means the sum paid to or received by a shareholder proportionate to his shareholding in a company out of the total sum of profit distributed. • Section 2[22] of the Act, fictional provision envisaging 5 different situations. • Provisions attracted only where there is ‘accumulated profits’
