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taxguru.in-Latest Income Tax News

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taxguru.in-Latest Income Tax News

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  1. Latest Income TaxNews taxguru.in/category/income-tax/ a2zbimaljain 1. Category IncomeTax Income Tax | Get all latest income tax news, act,article, notification, circulars, instructions, slab on Taxguru.in. Checkout excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on incometax. Articles News Judiciary Notifications View More Income Tax Articles Recent Posts in "Income Tax" | Total 38585Posts Assessment Order quashed on ground of Non-Disposal of Objections filedby Assessee The AO reopened the assessment of the Assessee after it was observed that the Assessee had not reflected or explained his investment in a hotel project duringa survey operation. Thereafter, the Assessee filed an application before the CIT(A) challenging the validity of reopening of assessment, which was subsequentlyrejected anddisposed... Read More Posted Under: Income Tax|Articles Genuine issue of Shares to Shareholders not to be considered underAnti-Abuse Provisions of the IT Act Genuine issue of Shares to Shareholders not to be considered under Anti-Abuse Provisions of Income Tax Act, 1961 In Income Tax Officer v. Shri Rajeev Ratanlal Tulshyan [I.T.A. No.5748/Mum/2017 A.Y. 2014-15 dated October 01, 2021] [along with cross objection filed by Shri Rajeev Ratanlal Tulshyan (the Respondent)], the IncomeTax Officer (...

  2. Read More Posted Under: Income Tax|Articles Income Tax Dept conducts searches in Assam, Meghalaya & West Bengal Income Tax Department carried out search and seizure operations on 05.10.2021 in the case of two groups based in the North-East Region and West Bengal. A total of 15 premises were covered in the search action, which was spread across Kolkata,Guwahati, Rangia, Shillong andPatna.... Read More Posted Under: Income Tax|News CBIC Notifies Rate of Exchange of Foreign Currencies wef08.10.2021 editor2 08Oct2021 0comment Lawrence Rebello Vs ITO (ITAT Indore) - Notification No. 80/2021 - Customs (N.T.)- 07/10/2021 CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees witheffect from 8th October, 2021, vide Notification No. 80/2021-Customs (N.T.) | Dated: 7th October, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS *****Notification No. 80/2021 – Customs(N.T... Read More Posted Under: Income Tax| Notifications N.T.,Notifications/Circulars Why it is important to check Form 26AS before filing Income TaxReturn PushpKumarSahu 08 Oct2021 0comment There is a great need and importance of thorough checking of Form 26AS before filing Income Tax Return, as it is an Annual tax statement which provide the details of taxpaid, tax deducted or collected at source as the case may be of the respectedassesse. Assesse has to mandatorily disclose the corresponding income[…]... Read More Posted Under: Income Tax|Articles Question Based on Provisions of Sections 154, 263 & 264 of IT Act,1961 CS DeepakP.Singh 08 Oct2021 0comment

  3. Today we are going to consider problem based on provisions of Sections Sections 154, 264 & 263 of the Income Tax Act, 1961. PROBLEM :- Assessment of X Ltd., is completed under Section 143(3) with an addition of Rs. 15.00 Lakhs to thereturned income. The assesses-company goes in an appeal before CIT (Appeals). Which[…]... Read More Posted Under: Income Tax|Articles Direct beneficial interest in asset/ bank account is a pre-requisite for issuingNotice u/s 148 AdvocateBharatAgarwal 08 Oct2021 0comment DCIT Vs Ganpat Singhvi (ITAT Mumbai)- Hon’ble Tribunal uphold the observations of Ld. CIT(A) wherein it was observed thatin order to assess the asset/bank account held by a third party in the hands ofthe respondent assessee the department has to prove that the assessee has directbeneficial interest in the asset/bank account held by thirdparty.... Read More Posted Under: Income Tax| Judiciary | All ITAT, ITATMumbai Understaning financial manoeuvring and shellentities Objective The Author in this article discusses two issues namely: 1) Application ofsection 68 in case of share application money to the web of intermediaries and 2) how one can- not misuse rule 27 of ITAT rules. Both the issues are based on recent judgementsof Mumbai tribunal Structure-: The article gives authors own analysis.[…]... Read More Posted Under: Income Tax|Articles I-T Dept conducts searches on certain businessmen/middlemen inMaharashtra Income Tax Department conducts searches on certain businessmen/middlemenin Maharashtra The Income Tax Department carried out a search operationthat commenced on 23.09.2021 on a big syndicate involving certainbusinessmen/middlemen of Maharashtra and some persons holding public offices. The intelligence wasdeveloped over 6 months. Inal... Read More Posted Under: Income Tax|News New Re-engineered Form 15CA & 15CB SubmissionProcess

  4. Income-tax Department has introduced a completely new re-engineered Form 15CAand Form 15CB submission process based on various feedbacks provided by numerous corporates and professionals all over India. These transformations will simplify the preparation, assignment, submission, and verification process involved in the entirefiling cycl... Read More Posted Under: Income Tax|Articles Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to thosewho are employed by the central or the state governments, etc. All the taxes whichare imposed are based on law, and the law which governs provisions about taxes onincome is the Income Tax Act, 1961. Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generatingany income based on the income tax slab rates. Income tax might seem to be a tedioustax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear pictureabout income tax which is simple and easy to understand then you are at the right place. Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars. At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost. Find allthe latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning workplan. We keep updating our portal regularly so that you don’t miss out onanything.

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