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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


Income Tax 1961 vs Income Tax Bill, 2025: Key Changes in Tax Provisions

Income Tax : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...

February 13, 2025 4368 Views 0 comment Print

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 7920 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 195 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 510 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 1056 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 1923 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 141 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 387 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 42 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 10659 Views 2 comments Print


Latest Judiciary


Transfer of case u/s. 127 without granting personal hearing in bad-in-law: ITAT Raipur

Income Tax : ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being hear...

February 13, 2025 24 Views 0 comment Print

Order of Settlement Commission choosing one of two possible views cannot be interfered

Income Tax : Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Comm...

February 13, 2025 33 Views 0 comment Print

Penalty u/s. 271B deleted as reasonable cause shown: ITAT Bangalore

Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...

February 13, 2025 33 Views 0 comment Print

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 63 Views 0 comment Print

Indian AE Transactions at Arm’s Length, HC Says No More 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 54 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 45 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 107325 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 186 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 324 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 336 Views 0 comment Print


No Section 271G Penalty Without Transfer Pricing Adjustment

February 14, 2024 804 Views 0 comment Print

ITAT Mumbai rules against penalty under Sec 271G for a diamond trader’s failure to provide segmental information, emphasizing substantial compliance.

Kerala HC: Unsecured Loan Addition Invalid Without Notice, Matter Remanded

February 14, 2024 1050 Views 0 comment Print

Kerala High Court remands matter for readjudication, ruling Income Tax addition invalid without notice on unsecured loans from five individuals.

All about Section 43B (h) of Income Tax Act, 1961 Related to MSME Enterprises

February 14, 2024 14007 Views 0 comment Print

Explore the impact of Section 43B(h) of the Income Tax Act on MSMEs, including applicability, non-applicability, and compliance requirements for businesses.

ITAT Clears Transfer Pricing Battle for Boeing India

February 14, 2024 435 Views 0 comment Print

ITAT Delhi resolves Boeing India’s transfer pricing dispute, clearing an INR 21,52,899 adjustment tied to operational inactivity and a merger with BCIL.

ITAT Ahmedabad Upholds Revenue Recognition Method on Consistency Principal

February 14, 2024 363 Views 0 comment Print

ITAT Ahmedabad rules in favor of Ralsons Infrastructure, emphasizing consistency in revenue recognition method as key to valid tax assessment for AY 2016-17.

Technical Glitch No Basis to Deny Section 80IB deduction: ITAT Mumbai

February 14, 2024 849 Views 0 comment Print

Mumbai ITAT rules in favor of S.K. Ventures, ensuring taxpayers’ right to Sec 80IB deduction is protected despite e-filing technical issues for AY 2017-18.

Management Fee Treated as Interest: Exemption under India-Germany DTAA

February 14, 2024 714 Views 0 comment Print

Delhi ITAT rules management fee on ECB falls under ‘interest’ as per Sec 2(28A), exempt under India-Germany DTAA Art.11, aiding Aka Ausfuhrrkreditgesellschaft MBH.

Service Tax Not Included in Gross Receipts for Presumptive Income (Sec. 44BBA): Kolkata ITAT

February 14, 2024 585 Views 0 comment Print

ITAT Kolkata rules service tax collected for rendering services does not form part of gross receipts under Sec 44BBA, benefiting Cathay Pacific Airways.

CIT(A)’s Blind Endorsement of AO’s Action Breaches Sec. 250(6) Compliance: ITAT Mumbai

February 14, 2024 879 Views 0 comment Print

Mumbai ITAT reinstates appeal due to CIT(A)’s failure to consider case merits in Rajkumar Anandchand Jain Vs DCIT, emphasizing proper legal procedures.

Section 68 applies when amount credited in assessee’s books lacks satisfactory explanation

February 14, 2024 1410 Views 0 comment Print

ITAT Mumbai rules Sec 68 invoked only if taxpayer can’t explain credits in books, highlighting the importance of genuine transactions for AY 2011-12, 2012-13.

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