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...
From the desk of Chairman,- CBDT S.N. 50 /May 31,2011 With profound humility, I bow in reverence & express my gratitude to each & every member of Ayakar Pariwar for their good wishes & support in my humble attempt to serve our great Nation. Even a small gesture of concern and care from me towards my Pariwar members has invariably elicited an overwhelmingly loving response, leaving me mesmerized, speechless & making me more & more humble.
The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the United Republic of Tanzania for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 27th May, 2011 at Dar-es-Salaam. The Agreement was signed by Shri K V Bhagirath, High Commissioner of India on behalf of the Government of India and by Mr Pereira Ame Silima, Deputy Minister of Finance on behalf of the United Republic of Tanzania in the presence of the Prime Minister, Dr Manmohan Singh and the President of Tanzania Mr Kikwete.
The expenditure is to be fully allowed in the year in which the same is incurred provided it fulfills the test laid down under s 37, and only in exceptional cases can the expenditure be allowed to be spread over, that too, when the assessee chooses to do so as held by Delhi High Court in CIT v Citi Financial Consumer Finance Ltd — In favour of : The Assessee ; ITA Nos. 1820, 1974/2010 and 5/2011.
The provisions of section 153C are analogous to section 158BD and, therefore, decisions rendered with reference to the provisions of section 158BD would apply with reference to the cases falling u/s 153C unless the context requires otherwise. The Apex Court in the case of Manish Maheshwari (supra) after considering the provisions of section 158BD held that:
In an effort to curb the use of black money in the electoral process, the Election Commission now plans to ask political parties to conduct their finances in a corporate fashion by getting their accounts audited and publishing their audited finance sheets annually. The EC has received a host of such recommendations from the country’s auditing regulator — the Institute of Chartered Accountants of India (ICAI) — and will notify the official guidelines to political parties and financial enforcement agencies like the Income Tax department and the Enforcement Directorate (ED) soon.
Planning Commission’s Deputy Chairman Montek Singh Ahluwalia today said the issues like cash subsidy and PPP, especially raised by Bihar, would be addressed prominently in the approach paper to 12th five year plan. ‘We will give thrust on ensuring faster and inclusive growth and sustainability,’ Mr. Ahluwalia said.
Notification No. 29/2011 – Income Tax The President of India is pleased to approve the creation of the Directorate of Income-tax (Criminal Investigation), to be known in short as DCI, in the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, with immediate effect.
The next time an Income Tax team raids your business premise they will not seize anything but instead leave the name and contact number of their boss with you. The I-T team will do so even before they begin the raid and the step has been taken to do away with any grievance related to harassment or corruption by I-T officials under the garb of such operations.
Ministry of Finance, Government of India has commissioned an in-depth and fresh study, engaging three top national level institutions for estimation of unaccounted income and wealth held within and outside India. This study will bring out the nature of activities that encourage money laundering and its ramifications on national security. The study has already commenced in March, 2011 and is expected to be completed within a period of 18 months.
Facing shortage of experienced hand, the government has relaxed the criteria for selection of Chairman and Managing Director (CMD) of public sector banks , a decision that would make several executive directors eligible for elevation as CMD. Under the new criteria, a bank executive director (ED) with a minimum experience of 6 months would also be eligible to become CMDs.
