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 : Explore cryptocurrency taxation in India, including tax rates, GST ambiguities, compliance issues, and the need for a clear regula...
Income Tax : The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This pro...
Income Tax : Tribunal ruled that Section 12AB(4) does not provide powers to cancel Section 12A registrations, and the notices issued were inval...
Income Tax : Explore income tax benefits for senior citizens in India, including tax slabs, exemptions, deductions, and key provisions under th...
Income Tax : One of the most infamous tax evasion cases in India is the Sahara India tax evasion case, which highlights the legal implications ...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that par...
Income Tax : ITAT Delhi rules in favor of the assessee, allowing Section 54F deduction despite builder delays. Revenue’s appeal dismissed cit...
Income Tax : ITAT Raipur held that adding entire bank receipts without inquiries from parties is unjustified. Case remanded for further examina...
Income Tax : ITAT Kolkata remands Mohammad Amjad Ali Sahaji’s appeal on advance tax non-payment, directing fresh consideration by CIT(A) with...
Income Tax : SC refuses to hear NewsClick’s plea under Article 32 but grants one week relief against coercive action in income tax case. Peti...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Delhi High Court ruling on PCIT vs. Dart Infrabuild (P) Ltd. addressing invalid notice, jurisdictional defect, and assessment proceedings for AY 2010-11.
ITAT Delhi held that donations received cannot be considered to be anonymous donations under section 115BBC as details i.e., name, address, PAN, amount of donations of donors provided and not proved to be wrong.
Explore the practical challenges and guidelines of Income-tax Act’s Section 194R introduced in 2022. Learn how to navigate complexities, avoid litigations, and ensure compliance.
ITAT Delhi held that amount advanced to subsidiary companies out of commercial expediency, accordingly, disallowance of interest claimed under section 36(1)(iii) of the Income Tax Act unsustainable.
ITAT Chennai held that only the mistake apparent from record which can be rectified but where two views are possible or there is a debate available, it cannot be rectified u/s.154 of the Income Tax Act.
Deduction under section 80P(2)(d) was allowable on receipt of interest from co-operative bank as a Co-operative Society was only a co-operative society as defined under the Act, be it a Co-operative Society carrying on banking business or Co-operative Society carrying on the other businesses or a Co-operative bank.
The proceedings drawn, admittedly being beyond a period that was prescribed under sub-section (2A) of Section 153 and the consequential orders passed were all beyond the period of limitation prescribed under sub-section (2A) of Section 153 hence, the same being not sustainable, deserved to be and was accordingly set aside/quashed.
Delhi High Court held that disallowance of travel expenditure unjustified as the expenses incurred had a nexus with the business interest of the respondent/assessee and AO has not brought anything on record to prove that the expenditure were of personal nature.
ITAT Chennai held that revision order u/s. 263 unjustified and liable to be quashed as no findings which proves that there is a violation of the proviso to provision of section 2(15) of the Income Tax Act, 1961. Accordingly, exemption u/s. 11 rightly claimed.
Delhi High Court held that notice for reopening of assessment issued u/s. 148 of the Income Tax Act on the last date of the limitation period cannot be said be have been issued beyond the period of limitation.