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 : Taxation plays a key role in reducing income inequality through progressive tax policies, redistribution, and public services. Lea...
Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...
Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...
Income Tax : Learn how residential status affects tax liability under the Income Tax Act, 1961. Understand ROR, RNOR, and NR classifications an...
Income Tax : Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR u...
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 Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Income Tax : ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI w...
Income Tax : Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional c...
Income Tax : ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not...
Income Tax : Bombay High Court dismisses Shandilya Properties LLP's petition challenging an income tax assessment order, directing them to exha...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
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...
ITAT Hyderabad held that as assesse failed to appear before AO as well as before CIT(A) despite numerous opportunities, matter remanded back to CIT(A) subject to cost of Rs. 10,000 to be deposited in Prime Minister National Relief Fund.
Merely filing of the affidavit is not sufficient to prove the capacity and source of the persons who has given money to the assessee.
ITAT Bangalore held that charging the income tax on the entire gross receipts without giving effect of the expenditures incurred by the assessee towards earning of the income.
ITAT Bangalore held that no exemption has been claimed by the assessee in the preceding year as application of income on the purchase of fixed assets. Accordingly, addition doesnot survive.
ITAT Ahmedabad held that as per provisions of section 10 General Clause Act, if last working day happens to be a holiday then the authorities concerned have been given power to make the necessary compliance on the next working day.
Madras High Court held that the re-assessment proceedings initiated by the assessing officer beyond four years from the end of the relevant assessment year is legally impermissible.
ITAT Delhi held that expense on Social & Rural Development Programme are revenue in nature, accordingly, allowable under section 37
ITAT Hyderabad held that addition under section 56(2)(viib) of the Income Tax Act sustained as method adopted for determination of FMV of equity shares by the assessee is not as per method prescribed under rule 11UA of Income Tax Rules.
Notification No. 22/2023- Income Tax Dated : 17th April, 2023 – Central Government notifies amendment in notification related to exemption under section 10(46) of Income Tax Act, 1961 to ‘Maharashtra Electricity Regulatory Commission’, Mumbai, a commission established by the State Government of Maharashtra. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification […]
ITAT Mumbai held that reopening of assessment unsustainable as there is no satisfaction of the competent authority before issuance of notice under section 148 of the Income Tax Act.
