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...
CIT Vs Paville Projects Pvt. Ltd. (Supreme Court of India) Supreme Court allows Revenue’s appeal quashing the Bombay High court order that had set aside CIT’s revisionary order passed under section 263 of Income Tax Act, 1961. CIT in exercise of the powers u/s 263 and in exercise of the revisional jurisdiction, set aside the […]
Section 192 of the Income Tax Act, 1961 is applicable to all employers who are responsible for deducting tax at source from the salaries of their employees. This section applies to all types of employees, including full-time, part-time, and contractual employees, as long as they are earning a salary.
Ensure sufficient time for compliance with Section 143(2) notice and the mandatory issuance of valid notices under Section 142(1)(ii). Understand the legal implications and the possibility of nullifying the assessment if proper procedures are not followed. Stay informed to protect your rights in tax assessments.
Delhi High Court directed the concerned officer to revisit the application preferred under section 197 of the Income Tax Act as the concerned officer simply by-passed the Supreme Court judgement in Engineering Analysis by observing that revenue has preferred a review petition. Such approach of officer is untenable.
Stay updated on the recent amendment to Section 43B of the Income Tax Act related to MSME. Explore the impact on expense deductions, payment timelines, and compliance with the MSMED Act, 2006. Ensure timely payments to Micro and Small Enterprises to avoid disallowances and interest implications.
Learn the updated process of filing Form 26QB for TDS on the purchase of immovable property under section 194-IA from April 1, 2023. Understand rates, due dates, and steps for seamless compliance. Stay informed and avoid penalties.
Stay informed about the TDS rates for the Financial Year 2023-24 (Assessment Year 2024-25) in India. Understand the rates applicable to different payments, thresholds, and considerations. Ensure compliance with the TDS Rate Chart for the new financial year.
Notification No. 17/2023-Inome Tax Dated: 6th April, 2023- CBDT notifies revised jurisdictions under sub clause (ii) of clause (D) of the Explanation to clause (6) of rule 114F of the Income Tax Rules 1962 by amending principal notification no. 78/2018 dated 5th November, 2018. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New […]
ITAT Ahmedabad held that penalty under section 271(1)(c) of the Income Tax Act not leviable on account of human error committed by the accountant as the same is not willful attempt to conceal income.
ITAT Delhi CIT(A) directed to accept the additional evidence and submission and pass the order after granting adequate personal hearing as there was reasonable cause of ailment that prevented assessee to supply documents and replies.
