#personal income tax
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Addition of income appearing in Form 26AS ,16A, 16 but not included in returned Income

Tax-free withdrawal from NPS to non-employee subscribers

No adjustment if variation between stamp duty value & sale consideration not exceeds 5%

Section 54EC only on Land & Building Transfer: Investment period 5 Years

Budget 2017- New Benefits announced for NPS Subscribers

Threshold limit for maintaining books of accounts for Individual / HUF

5 Budget 2017 Amendments you should know

Budget 2017 proposes penalty on cash receipt exceeding Rs. 3 Lakh

Tax Rate 5% for individual income between Rs 2.5 to Rs 5 lakh

Budget restricts set-off of loss from House property to Rs. 2 Lakh

No Section 10(38) exemption in case of no STT on acquisition

FM Relaxes Income Tax Requirements for small businesses

Shifting base year from 1981 to 2001 for capital gain computation

Immovable property held for 2 Years to be considered Long Term capital asset
Explore the latest personal income tax 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.
