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 : The article explains how taxpayers often wrongly assume that housing loan loss benefits remain available under the new tax regime....
Income Tax : The article explains how seemingly simple questions in ITR-1 can create major confusion for taxpayers. It highlights practical iss...
Income Tax : The ITAT Mumbai held that alleged accommodation entry operators cannot be taxed on the entire turnover amount. The Tribunal ruled ...
Income Tax : AI-driven scrutiny and AIS integration are increasing Income Tax notices where property transactions occur below stamp duty value....
Income Tax : This case highlights that cash paid to builders as “on-money” will not automatically be treated as tax evasion if it originate...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the basis of submissions an...
Income Tax : The ITAT Ahmedabad held that co-operative banks qualify as co-operative societies for purposes of Section 80P(2)(d). The Tribunal ...
Income Tax : The Delhi High Court set aside an assessment order after finding that the Assessing Officer failed to consider the assessee’s re...
Income Tax : The ITAT held that credits received in the assessee’s bank account were repayments of earlier advances and not unexplained cash ...
Income Tax : Tribunal ruled that income tax demands not included in the approved resolution plan were irrevocably extinguished. The decision fo...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
The Tribunal addressed disallowance arising from mismatch between ITR and tax audit report. It held that inadvertent reporting errors require verification, not outright denial of deduction.
The case involved additions for unexplained bank deposits where the assessee later produced authenticated NRE account evidence. ITAT remanded the matter, directing fresh consideration of documents and proper opportunity of hearing.
The Court dismissed the SLP due to a 390-day delay and absence of valid grounds. The ruling leaves intact the finding that interconnect payments are not royalty.
The High Court followed its earlier ruling that interconnect service charges are not taxable as royalty. The Revenues appeal was dismissed due to lack of merit and binding precedent.
The Court declined to interfere after finding no sufficient reason to disturb the High Court’s decision. The ruling reinforces limits on appellate intervention.
The Court set aside Section 148 notices after finding no tangible evidence supporting the existence of a Permanent Establishment. The ruling highlights the need for concrete material in reassessment.
The case examined whether purchases can be disallowed when supported by documents and sales are accepted. ITAT held that estimation without rejecting books or independent evidence is unsustainable.
The new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but compliance requires system updates.
The ruling confirms that in matters of undisclosed foreign assets, the Black Money Act prevails over general tax provisions. This ensures stricter enforcement.
The case clarifies that only specified adjustments can be made while computing book profit under MAT. The ruling limits arbitrary additions by tax authorities. Key takeaway: MAT computation is strictly rule-based.
