#income tax act 1961
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Revised return which is a defective return filed under any of the provisions of the IT Act can be rectified

Audit of Co-Operative Housing & Credit Societies in Maharashtra

AAR on importance of the transfer pricing provision over the capital gains provision

Notification No. 47/2009 – Income Tax Dated 1/6/2009

Section 54F exemption cannot be availed if there is a house in existence on the date of transfer

AAR on tax liability of a partnership firm to be formed in Canada by a Canadian company for executing its PSCs in India

Expenses reimbursed cannot be excluded from the amount defined in section 44BB(2)

New TDS and TCS payment and information reporting system

ITAT notification on result of appeal

Notification No. 37/2009 – Income Tax Dated 21/4/2009

40A shall also be attracted where cash payments made to a single party exceeds twenty thousand rupees in a day.

Tax losses need to be carefully evaluated during acquisition

ACIT or DDIT can act as AO of an assessee only when they are conferred with such jurisdiction by CBDT

Payment for transfer of right to use software loaded on hardware – not royalty
Explore the latest income tax act 1961 updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
