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...
In the case of Vikas Road Carriers Ltd. v. ITO [2010-TIOL-417-ITAT-MUM] the Mumbai Bench of the Income-tax Appellate Tribunal (“the Tribunal”), ruled that, in light of the very typical facts of the case, no disallowance could be made under section 40(a)(ia) of the Income Tax Act, 1961 (“the Act”), for non-withholding of tax since the payments to the transporters were less than Rs. 20,000 each, and less than Rs. 50,000 in a year to any party and hence did not attract the withholding tax provisions of section 194C of the Act. The Tribunal relied very heavily on the fact that while the assessee had given details of expenses incurred, the revenue authorities were unable to dispute the assessee’s statement that the expenses in question did not exceed the limit of Rs. 20,000 per payment, and Rs. 50,000 per payee per year.
Recently, the Delhi bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of ACIT Vs M/s Toshiba India Private Limited (2010-TII-14-ITAT-DEL-TP) has rejected the Assessing Officer’s approach of cherry picking the comparables and proposing an arbitrary Transfer Pricing adjustment.
Section 80IA(4)(i) of the Income-tax Act, 1961 (the Act) provides for a tax holiday to an undertaking engaged in developing, or operating and maintaining, or developing, operating and maintaining any infrastructure facility subject to satisfaction of certain conditions mentioned in the Section.
Under Section 80CCF, any individual or Hindu undivided family can invest up to Rs 20,000 in infrastructure bonds and avail of tax benefits. This will be over the Rs 1-lakh deduction allowed under Section 80C. So, an investor in the tax bracket of 30
THE Delhi high court has ruled that the tax authorities cannot initiate assessment proceedings simply on belief of escapement of tax, or belief that some income has escaped tax, effectively curbing powers of the revenue department to open past cases.
The CIT is primarily responsible to submit the proposal in time. He cannot merely point out delay by the AO or Counsel. He has to explain action taken by him against officers responsible for delay and steps taken by him to prevent recurrence of such delay in future.
The Income Tax department is preparing a family tree of all senior officials, individuals and their relatives who have bagged Commonwealth Games contracts and also of consortiums which entered into joint ventures with foreign entities to float firm
The Income Tax department today issued an order raising a tax demand of Rs.11,217.95 crore on Vodafone International Holdings BV treating it as an assessee in default under section 201(1) of the Income Tax Act, 1961 (the Act) for failure to deduct ta
Rejecting allegations of corruption, public broadcaster Doordarshan today claimed that the Rs 246 crore contract with a British firm to telecast Commonwealth Games was ‘transparent and as per government rules. Having faced brickbats from all quarters
The income tax department chose the softer option of acting on a tax evasion of Rs 29 crore from CWG broadcast firm SIS Live by withdrawing its own order to attach the company’s bank accounts.It rewrote its order attach accounts directly and instead
