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Income Tax

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.

Latest Articles


Comparative Analysis: Income Tax Act 1961 vs. Income Tax Bill 2025

Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...

February 13, 2025 2607 Views 0 comment Print

USA Taxation 2024: Updated Guidelines for Individuals

Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...

February 13, 2025 102 Views 0 comment Print

वरिष्ठों को भी सभी स्तोत्रों से प्राप्त बारह लाख तक आय पर टैक्स छूट नहीं देना कहाँ तक उचित

Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...

February 13, 2025 243 Views 0 comment Print

Section 44AD: Presumptive Taxation for Small Businesses

Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...

February 13, 2025 708 Views 0 comment Print

New Income Tax Bill, 2025: Important Key Points

Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...

February 12, 2025 3030 Views 0 comment Print


Latest News


Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961

Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...

February 13, 2025 1203 Views 0 comment Print

Income Tax Return Filings in India: Trends and Government Measures

Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...

February 12, 2025 96 Views 0 comment Print

Impact of Supreme Court Judgement On HUF Tax Benefits

Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...

February 12, 2025 198 Views 0 comment Print

Corporate Tax Collections & Incentives for Global Firms

Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...

February 12, 2025 33 Views 0 comment Print

Reminder for Filing TDS Statement 26Q for Q2 FY 2024-25

Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...

February 8, 2025 10638 Views 2 comments Print


Latest Judiciary


Transactions between the assessee and its Indian AE found to be at AL in TP adjustment: HC held no further attribution

Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...

February 13, 2025 12 Views 0 comment Print

Matter remain uncompiled due to accident of CA: ITAT remanded back the matter

Income Tax : In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that a...

February 13, 2025 33 Views 0 comment Print

Taxpayer is obligated to furnish sufficient data on comparable transaction related to foreign AE: ITAT remanded matter

Income Tax : In the matter above-mentioned ITAT partly allowed the appeal filed by the assessee by remanded it back to file of TPO after consid...

February 13, 2025 30 Views 0 comment Print

Section 148 Notice Procedure Must Be Completed Within Section 149 Timeframe: Delhi HC

Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...

February 12, 2025 174 Views 0 comment Print

No Addition Based on mere Loose Papers, WhatsApp Chats: ITAT Pune

Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...

February 12, 2025 4233 Views 0 comment Print


Latest Notifications


Govt released Income-Tax Bill, 2025 (Download)

Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...

February 12, 2025 88146 Views 3 comments Print

Income Tax Act: Bhaikaka University Approved for Research

Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...

February 11, 2025 180 Views 0 comment Print

Income Tax Act: Section 285 Notification for Liaison Office Statement Filing

Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...

February 10, 2025 318 Views 0 comment Print

Income-Tax Rule 2F Amended for Infrastructure Debt Funds

Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...

February 7, 2025 324 Views 0 comment Print

CBDT Shares Taxpayer Data for PMGKAY Eligibility

Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...

February 4, 2025 2592 Views 0 comment Print


Tax Avoidance and Inequality: Connecting the Dots in India

April 19, 2024 885 Views 0 comment Print

Explore the nexus between tax avoidance and inequality in India. Learn how legal loopholes deepen economic divides and discover strategies to address this pressing issue.

Stay on Income Tax Recovery can be granted if 20% Tax Already been paid: Kerala HC

April 19, 2024 852 Views 1 comment Print

Kerala High Court’s judgment on applicability of CBDT Circular regarding deposition of assessed tax when appeal lies only before ITAT. Analysis and conclusion provided.

Bombay HC allows interest on entire Income Tax Refund to CEAT Limited

April 19, 2024 2199 Views 0 comment Print

Read about the Bombay High Court’s judgment in Ceat Limited Vs CIT, where Ceat was entitled to interest on a tax refund exceeding 10% of the tax determined on regular assessment.

All about Income Tax Returns for individuals FY 2023-24 AY 2024-25

April 18, 2024 29088 Views 1 comment Print

Understand the significance of filing Income Tax Returns (ITR), explore various forms, eligibility criteria, and tax planning strategies for efficient financial management.

Disallowance of Business Expenses by AO: A Glaring Instance of Unfair Logic

April 18, 2024 981 Views 0 comment Print

Explore the illogical disallowance of business expenses by assessing authorities, the burden on taxpayers, and the questionable logic behind such actions.

Assessment void if section 143(2) jurisdictional notice was issued beyond prescribed time limit

April 18, 2024 4695 Views 0 comment Print

Read about the case of Aark Infosoft Pvt. Ltd. vs. ACIT (ITAT Ahmedabad) where the assessment was deemed void due to a delayed Section 143(2) notice.

ITAT Upholds PCIT’s Decision on Erroneous Assessment Orders and Inadequate Inquiries in Tax Evasion Case

April 18, 2024 693 Views 0 comment Print

ITAT upholds PCIT’s decision on erroneous assessment orders in tax evasion case. Changela’s appeals dismissed as inadequate inquiries led to erroneous orders.

Expenses Cannot Be Disallowed Without Assessee’s Claim in the Relevant Year

April 18, 2024 1191 Views 0 comment Print

Analyzing the case of Sunil Dhirubhai Patel vs ITO, where expenses were disallowed despite not being claimed by the assessee, and how the ITAT Ahmedabad ruled in favor of the assessee.

ITAT upholds disallowance of Sponsorship Fee unrelated to business

April 18, 2024 414 Views 0 comment Print

Yala Construction Co. Pvt Ltd’s disallowances upheld by ITAT Delhi include depreciation, interest on loan, commission, and sponsorship fee. Detailed analysis and conclusion provided.

Insufficient time given for Compliance: HC quashes order & directs de novo consideration

April 18, 2024 699 Views 0 comment Print

Bombay High Court quashes order under Section 148A(d) of the Income Tax Act, citing insufficient time due to weekends, holidays, remands for de novo consideration.

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