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 : Rule 46(8) mandates daily backups of electronic books on servers located in India, strengthening digital tax compliance and data i...
Income Tax : CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing f...
Income Tax : Explore income-tax rates applicable over the last ten assessment years for individuals, companies, firms, LLPs, HUFs, and co-opera...
Income Tax : Learn how business and professional income is computed under the Income-tax Act after the Finance Act, 2026. This guide explains t...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
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 : ITAT Jaipur held that exemption under Section 11 cannot be denied merely because Form 10B was filed late when it was already avail...
Income Tax : Bombay HC admitted the Revenue's appeal on AMP expenditure and payments to doctors, holding both require judicial examination. It ...
Income Tax : ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition ...
Income Tax : NCLAT held that a single application covering multiple years and company officers is maintainable in the absence of any statutory ...
Income Tax : ITAT held that Section 87A rebate cannot be denied on tax payable under Section 111A where the assessee qualifies under the prescr...
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...
Recently Income Tax department issued one after one circular making amendment in provisions related to TDS. Department has made so many amendments that we even lost the counts of amendments made in TDS laws during the last few months, Department has not only made the amendments in rules/sections governing TDS law but they also amended the forms related to TDS certificate
Amid mounting global pressure on Swiss banks to act against clients having illicit wealth, the country’s financial market regulator has found loopholes in the banks’dealing with the foreign political figures. In one of the first-of-its-kind initiative against any hoarding of illicit wealth and money laundering through Swiss banks, the Swiss financial market supervisory authority FINMA has conducted an audit on dealings of all Switzerland-based banks with PEPs (Politically Exposed Persons).
The Draft Real Estate (Regulation & Development) Bill, 2011 seeks to establish a regulatory oversight mechanism to enforce disclosure, fair practice and accountability norms in the real estate sector, and to provide adjudication machinery for speedy dispute redressal. This Act is in pursuance of the powers of Parliament to make laws on matters enumerated in the Concurrent List namely, transfer of property other than agricultural land; registration of deeds and documents, and contracts including partnerships, agency, contracts of carriage, and other special forms of contracts, but not including contracts relating to agricultural land.
Kumari Selja, Minister of Housing & Urban Poverty Alleviation and Minister of Culture,has issued the Draft Model Property Rights to Slum Dwellers Act, 2011′ and Central Legislation for Street Vendors for public discussion in New Delhi. The main features of the drafts are as follows: Draft Model Property Rights to Slum Dwellers Act, 2011 The Ministry of HUPA proposed the strengthening […]
The Income Tax Department, Chennai would like to prepare two separate panels of Junior Standing Counsels and Senior Standing Counsels for representing its cases before the Hon’ble Madras High Court. Practising advocates as well as the retired officers of the Income Tax Department with Law degree are eligible for empanelment. The qualification, schedule of fees and allowances and the proforma application in which the application has to be made, have been prescribed by the Central Board of Direct Taxes, New Delhi vide its Instruction No.8/2007 dated 30.08.2007, a
The Union Finance Minister Shri Pranab Mukherjee said that India today is among the fastest growing economies and widely believed to be steadily on the course to occupy a place among the top three economies of the world by the year 2050. However, the Finance Minister Shri Mukherjee cautioned that the recent developments in Euro-zone have heightened uncertainty in financial markets through-out the world. As a result, India’s short-term growth prospects have also been impacted, the Minister added. The Finance Minister Shri Mukherjee said that the post-global financial crisis, the world has seen most major economies facing an uphill task in engineering their recovery.
rtment of Revenue, Ministry of Finance has, vide office order Nos. 299 to 303, all dated 8.11.2011 notified the appointments of Ombudsman at Bangaluru, Ahmedabad, Mumbai, Lucknow and New Delhi. OFFICE ORDER NO.303/2011-Ad.I (appointment of I.T. Ombudsman at New Delhi) -Dated : 08/11/2011
Vipul Medcorp TPA Pvt Ltd & Ors v. CBDT (Delhi High Court)-The High Court held that payments made by the insurance company or the TPAs could be in the nature of business expenditure as per accounts/books maintained by them. However, tax has to be deducted under Section 194J of the Act if the payment is made to a resident person towards fees for professional services. Further, the nature of payment in the hands of the payee/recipient is relevant and that determines whether tax needs to be deducted or not. Section 194J of the Act does not specify that the payer must have availed and taken benefit of the professional services.
ITO V. M/s. S-Net Freight (India) P. Ltd. (ITAT Chennai) – The Tribunal order has recognised that beneficial ownership and legal ownership could be different and for the purpose of section 79 of the Act, the beneficial ownership was relevant. Accordingly, share transfers by nominees or trustees of the beneficial owner would not trigger the provisions of section 79 of the Act while the beneficial ownership did not change beyond 51 percent.
Now a days, during transfer pricing assessment , the TPO are coming with unique ideas like valuation of intangibles , corporate guarantees, ratings provided by CRISIL etc. this all leads to corporate in a mysterious situation. Below are the summarized form of the latest judicial pronouncements on transfer pricing which will help corporate in better benchmarking of their international transactions with their foreign associate enterprises.
