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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


All provisions for Trust/NPO at one place in Income Tax Bill 2025

Income Tax : The Income-tax Bill, 2025 has been tabled in Parliament on 13th February 2025, marking a significant step toward simplifying the l...

February 19, 2025 267 Views 0 comment Print

Budget 2025: Key Income Tax Proposals

Income Tax : Overview of key income tax changes for non-residents, charitable trusts, and individuals, including SEP rules, fund management, an...

February 18, 2025 4329 Views 0 comment Print

Budget 2025 Synopsis: Tax Reforms & Economic Initiative

Income Tax : Budget 2025 focuses on economic growth, tax reforms, and infrastructure. Key changes include new tax rates, financial sector refor...

February 18, 2025 429 Views 0 comment Print

Tax Benefits for Parents under Income Tax Act 1961

Income Tax : Explore tax benefits available for parents under the Income Tax Act, including education, health insurance, and deductions for med...

February 18, 2025 780 Views 0 comment Print

Income Tax on Redemption of Debt Mutual Funds

Income Tax : Understand tax rules for debt mutual funds based on purchase date. Learn about slab rates, LTCG tax, indexation, and rebate eligib...

February 18, 2025 5172 Views 0 comment Print


Latest News


Key Highlights of Finance Bill 2025: Income Tax Changes

Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...

February 19, 2025 2673 Views 0 comment Print

ICMAI on Non-inclusion of ‘Cost Accountant’ in Income Tax Bill 2025

Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...

February 17, 2025 15150 Views 2 comments Print

50 Corrections in Income-tax Bill, 2025: Lok Sabha Update

Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...

February 15, 2025 1005 Views 0 comment Print

KSCAA Seeks Clarity on Eligibility of Appeals with Delay Condonation under VSVS

Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...

February 15, 2025 117 Views 0 comment Print

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 14, 2025 9474 Views 0 comment Print


Latest Judiciary


ITAT Bangalore Remands Section 54 Exemption Case for Review

Income Tax : ITAT Bangalore sets aside CIT(A) order in Section 54 exemption case due to lack of documents. The case is remanded for fresh revie...

February 19, 2025 192 Views 0 comment Print

Non-Compliance Due to Email Change: ITAT Restores Quantum & Penalty Appeals to CIT(A)

Income Tax : ITAT Pune restores Mauli Nagari's tax case to CIT(A)-NFAC due to non-compliance issues. Read about penalties, unexplained cash dep...

February 19, 2025 27 Views 0 comment Print

ITAT Luncknow directed CIT(A) to re-consider condonation as delay of 4 days erroneously calculated as 551 days

Income Tax : ITAT Lucknow held that delay of 4 days erroneously calculated as delay of 551 days by CIT(A). Accordingly, directed CIT(A) to cons...

February 19, 2025 45 Views 0 comment Print

AO’s order cannot be deemed erroneous Solely Due to PCIT Disagreement: ITAT Jaipur

Income Tax : Explore the ITAT Jaipur decision in Mujmmeel Vs ACIT, examining Section 263 order invoking unexplained investments and its implica...

February 19, 2025 87 Views 0 comment Print

ITAT quashes Section 271(1)(c) penalty on estimated 24.50% NP rate addition

Income Tax : ITAT Chandigarh rules against penalty on estimated income in AKM Resorts vs ACIT, reinforcing that additions based on estimation d...

February 19, 2025 72 Views 0 comment Print


Latest Notifications


CBDT extends Due Date for Filing Form 56F for AY 2024-25

Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...

February 19, 2025 3459 Views 0 comment Print

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 831 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 138351 Views 5 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 231 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 390 Views 0 comment Print


Expenses in the nature of sales promotion, liaison, infrastructure facilities etc cannot prima facie be termed as out of pocket expenses

September 27, 2010 963 Views 0 comment Print

Assessee has not made out a case for total waiver of pre-deposit and keeping in view the total facts and circumstances of the case, we direct the assessee to deposit an amount of Rs.1,00,000/- (one lakh) within a period of four weeks from today and on such deposit, pre-deposit of the balance amount of Service Tax and penalty shall stand waived and recovery thereof stayed pending the appeal. Failure to comply with this direction shall result in vacation of stay and dismissal of appeal without prior notice.

Interest in excess of 8.50% on EPF will be taxed

September 26, 2010 739 Views 0 comment Print

The government’s surprise gift for workers isn’t much of a gift after all. The labour ministry has hiked the employees’ provident fund, or EPF, rate to 9.5%, but a finance ministry notification says that anything in excess of 8.5% will be taxed. The

DTC proposes to levy wealth tax on productive assets held in foreign arms

September 26, 2010 441 Views 0 comment Print

The scope of wealth tax, which is currently levied on unproductive assets like jewellery, yacht and aircraft will be extended to productive assets like equity or preference shares held by an Indian company in its overseas subsidiary and interest in f

SEZs to be operational before March 2014 to get tax benefits under the proposed Direct Taxes Code

September 26, 2010 378 Views 0 comment Print

The deadline of March, 2014, under the proposed Direct Taxes Code (DTC) for making new special economic zone units operational if they are to get tax benefits is likely to speed up development of these SEZs by entrepreneurs, a report said.

Bhupen Dalal's flat to be auctioned to recover Income Tax dues

September 26, 2010 514 Views 0 comment Print

In a setback to stockbroker Bhupen Dalal, an accused in the 1992 securities scam, a special court has allowed his posh flat in upscale Altmount Road area here to be auctioned to recover income tax dues running into crores of rupees. Justice D K Deshm

Govt neutralises tax impact of first year of DTC regime by withdrawing Profit linked incentives

September 26, 2010 288 Views 0 comment Print

Government today said its proposals on withdrawing profit-linked exemptions in Direct Taxes Code will bring in over Rs 50,000 crore and make the exchequer little bit richer despite moderation in tax rates. “Government would bring Rs 55,000 crore wort

Sub-sections (2) and (3) of sec. 14A and Rule 8D are constitutionally valid

September 25, 2010 2451 Views 0 comment Print

Godrej & Boyce Mfg. Co. Ltd. Vs DCIT,, ITA 626/2010 and W.P. 758/2010 dated 12 August 2010, – Bombay High Court rules on prospective operation of Rule 8D and upholds the constitutional validity of sub-sections (2) and (3) of section 14A and Rule 8D.

Reopening of assessment under section 147 for mistakes that could be rectified under section 154 is invalid

September 25, 2010 960 Views 0 comment Print

The High Court held that notice issued for reopening the assessment which could be rectified under section 154 is invalid.

DTC 2010 introduces investment linked tax incentives instead of profit based incentives available under the Income Tax Act

September 25, 2010 955 Views 0 comment Print

Under the Income Tax Law (ITL), tax incentives linked to the profits of the relevant business (profit-linked incentives) are available for a specified number of years. Direct Taxes Code (DTC) 2010 proposes to withdraw or substitute these profit-linke

DTC- 2010- Major amendments related to assessment, appeal, penalty and withholding tax

September 25, 2010 751 Views 0 comment Print

Direct Tax Code (DTC) 2010 consolidates the withholding tax provisions as well as the procedural law dealing with reporting of income (including branch profits), net wealth and dividends distributed. To ensure compliance with the reporting requirements under DTC 2010, certain amendments have been proposed to the penal provisions, as also provisions relating to prosecution. This article summarizes the key amendments to the procedural law, including amendments to the assessment procedures, tax withholding provisions, penalty and prosecution.

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