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 confirmed the Section 69A addition after the assessee failed to produce evidence identifying the alleged farmers or explainin...
Income Tax : ITAT remanded the matter after holding that the CIT(A) passed a non-speaking order without giving reasons or properly considering ...
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 : 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...
Prudential Assurance Company Ltd. (Prudential) is a foreign company incorporated in United Kingdom and is engaged in the business of Insurance. Prudential registered with the Securities and Exchange Board of India as a sub-account of a Foreign Institutional Investor (FII).
The High court agreed with the position taken by the appellate authorities that the security deposit did not constitute a loan since it was paid to the respondent in his capacity as the owner of the accommodation and in pursuance of a lease agreement. Further, the court agreed with the observation of the ITAT that the respondent did not get undue benefit / advantage as the terms of the lease were similar to the earlier agreement though he had not received the additional guarantee.
The Tribunal has held that a simple maintenance of stock of goods by the foreign enterprise at the customer?s location for standby use may not constitute a PE, while keeping the issue open with regard to royalty on use of equipment.
The draft Direct Taxes Code (DTC) along with a Discussion Paper was released on 12 August 2009 for public comments with the intention to simplify direct tax legislation in India. Subsequently, comments were solicited from the public and examined by the Government. A Revised Discussion Paper which is meant to respond to the major concerns and comments of stakeholders has now been released on 15 June 2010.
The new Citizens’ Charter will be a guiding rule book for the I-T department and its officials.Taxpayers whose premises have been searched or raided by the Income Tax (I-T) department can now expect to get possession of their sealed properties and assets in two months as compared to the usual duration of over a year.
Bollywood superstar Shah Rukh Khan received a setback on Friday when a petition filed by him under the Income Tax Act, 1961, was dismissed by the Bombay high court. A division bench of justices DY Chandrachud and JP Devadhar dismissed Khan’s petition challenging an order passed by the Income Tax Appellate Tribunal (ITAT) for alleged tax evasion of Rs. 9 lakh.
If one wishes to use the service of a TRP for filing I-T returns one can use the helpline started for the purpose. The tax return preparers (TRPs), who were brought in by the Income Tax (I-T) department about two years back to help tax payers file their I-T returns, can be contacted through a helpline — 1800 102 3738. This is a new helpline started by the department.
Long-term capital gains :-If shares are held by the tax payer for more than 12 months, then gains arising from their sale/transfer are treated as long term capital gains. If the period of holding is lower, then such gain is treated as short term capital gains.
The Jharkhand High Court on Thursday barred non-tax payers from filing a public interest litigation (PIL). “A division bench of Acting Chief Justice Sushil Harkauli and DN Patel set the parameters for filing a PIL. The parameters include a term that only tax payers having a PAN (permanent account number) can file PIL,” Rajiv Kumar, a high court lawyer, said.
authorise the said Commissioners of Income Tax, to issue orders in writing for the exercise of powers and performance of functions by all or any of the Income-tax authorities who are subordinate to them in respect of such territorial areas, or such persons or classes of persons, or such income or classes of income, or such cases or classes of cases, as may be specified in their orders, including orders transferring the areas/persons or classes of persons, incomes or classes of incomes, cases or classes of cases from one Range to another Range or from one Assessing Officer to another Assessing Officer.
