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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 4872 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 123 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 351 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 792 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 3360 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 1401 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 114 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 246 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 10644 Views 2 comments Print


Latest Judiciary


Source of gift satisfactorily explained: ITAT deleted addition

Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...

February 13, 2025 30 Views 0 comment Print

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 27 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 45 Views 0 comment Print

Taxpayer Must Provide Comparable Data in Foreign AE Cases:: 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 42 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 195 Views 0 comment Print


Latest Notifications


Punjab RERA Notified for Income Tax Exemption under Section 10(46A)(b)

Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...

February 13, 2025 9 Views 0 comment Print

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 91503 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 183 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 321 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 327 Views 0 comment Print


Interest on TDS not allowable expenditure: ITAT Delhi

March 18, 2024 648 Views 0 comment Print

ITAT Pune remands Sanj Sawali Care Foundation’s 80G exemption application to CIT(E) for reevaluation after failure to produce documentary evidence. Details here.

Addition u/s. 68 unsustainable as AO failed to conduct independent enquiry to verify genuineness of transaction: ITAT Kolkata

March 18, 2024 1137 Views 0 comment Print

In Brightstar Vincom Pvt Ltd Vs ITO, Kolkata ITAT emphasizes independent inquiry by AO before adding under section 68 of IT Act.

Income Tax Offices throughout India Shall Remain Open on 29th-31st March 2024

March 18, 2024 5076 Views 0 comment Print

Government order mandates Income Tax Offices open on 29th, 30th, and 31st March 2024 to facilitate pending work. Details under section 119 of the Income-tax Act, 1961.

Deduction u/s. 80IB(10) admissible only when return is furnished within due date specified u/s 139(1): ITAT Ahmedabad

March 18, 2024 519 Views 0 comment Print

Learn about the DCIT vs Umang Hiralal Thakkar case at ITAT Ahmedabad regarding filing returns under section 139(1) for claiming deduction under section 80IB. Get detailed insights and analysis.

Revisional jurisdiction u/s 263 rightly invoked as order passed without satisfying mandatory provisions of section 92CA: ITAT Mumbai

March 18, 2024 336 Views 0 comment Print

ITAT Mumbai held that assessment order passed without satisfying mandatory provisions of section 92CA and CBDT instruction no. 3 of 2016 is order falling within the meaning of erroneous and prejudicial to the interest of revenue. Hence, revisional jurisdiction u/s. 263 of the Income Tax Act rightly invoked.

Addition u/s 68 deleted as genuineness and creditworthiness of lender proved: ITAT Delhi

March 18, 2024 765 Views 0 comment Print

ITAT Delhi’s order on Trident Towers Pvt. Ltd vs ACIT addresses the deletion of addition under section 68 of the Income Tax Act, citing submission of requisite documents.

Foreign Tax Credit (FTC): Importance, Concept and How to Claim FTC

March 18, 2024 2997 Views 0 comment Print

Understanding Foreign Tax Credit (FTC) in India: Learn its significance, rules, claiming procedure, case law insights, and steps to avoid double taxation effectively.

Form 15CA & 15CB – An Overview

March 18, 2024 2580 Views 0 comment Print

Gain insights into Form 15CA and 15CB, essential for cross-border transactions. Learn their significance, types, and procedures to ensure tax compliance in India.

Difference in stock found during course of survey duly reconciled hence addition u/s 69 unsustainable: ITAT Delhi

March 18, 2024 828 Views 0 comment Print

New Delhi ITAT rules that no addition can be made under Sec 69 if the difference in stock found during survey and recorded in books is reconciled. Detailed analysis of Ultimate Creations Vs ACIT.

Section 80P(2)(d) Deduction Eligible on Interest on Deposits with Co-Op Society 

March 18, 2024 900 Views 0 comment Print

Chandigarh ITAT ruled interest income from cooperative bank eligible for deduction under Sec 80P(2)(d). Detailed analysis of the case.

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