#income tax act
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FM likely to drop the proposal to tax religious trusts

“DHARMADA” or Charity Amount not part the assessable value under the Central excise Act

Comments on New Direct Tax Code

Income Tax department will send notice to companies who paid lesser advance tax

Foreign Foreign companies or individuals, including FII can enjoy lower capital gain tax

CBDT withdrawn circulars related to taxability of foreign companies and non-residents, engaged in specified business activities

Taxability of LLP and Income tax provisions governing them

Validity of re-opening when no concealment of income and department applied higher tax rate of tax for framing re-assessment

Only simple interest on refund of TDS/Advance tax if refund is paid along with interest within the prescribed time period

Construction activity is not manufacturing u/s. 35D of the Income Tax Act, 1961

Section 14A of IT Act applicable in respect of share of profit from partnership firm

Section 132 of the Income-tax Act, 1961 – Search & seizure – Empowerment of authorities

Income tax department considering publishing the names of tax defaulters

Contractors cannot claim deduction on profits from infrastructure project
Explore the latest income tax act 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.
