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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


Unexplained Cash Credits & Section 68: Tax & Legal Aspects

Income Tax : Learn about unexplained cash credits under Section 68, tax implications, key legal cases, and compliance requirements to avoid pen...

February 13, 2025 39 Views 0 comment Print

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 6084 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 9573 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 267 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 681 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 2253 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 156 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 489 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 48 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 10680 Views 2 comments Print


Latest Judiciary


SC: Govt. Grant Interest Taxable (SLP Dismissed)

Income Tax : Supreme Court dismisses Bihar Police Building Construction Corporation's tax appeal due to significant delay....

February 13, 2025 24 Views 0 comment Print

Interest on Govt. Grants Taxable as Income From Other Sources: Patna HC

Income Tax : Patna High Court rules interest earned on government grants for construction is taxable income, not capital receipt....

February 13, 2025 9 Views 0 comment Print

SC dismisses ACIT’s appeal against reassessment due to delay & lack of merit

Income Tax : Supreme Court dismisses tax case due to delay and lack of merit. Bombay High Court quashes reassessment notice against Teleperfor...

February 13, 2025 72 Views 0 comment Print

Bombay HC Quashes Reassessment Notice for Section 151 Approval without mind application

Income Tax : Bombay High Court quashes reassessment notice in Teleperformance case due to lack of application of mind in granting approval unde...

February 13, 2025 24 Views 0 comment Print

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 51 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 69 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 118623 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 189 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 327 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 342 Views 0 comment Print


ITAT Levies Rs. 25,000 Cost Per Appeal on Delinquent Assessee Jet Airways

February 13, 2024 573 Views 0 comment Print

In light of ongoing NCLT insolvency proceedings, ITAT Mumbai orders Jet Airways to contribute Rs 25,000 to the Prime Minister Relief Fund, emphasizing the importance of compliance.

No Section 68 Additions Without Substantive Inquiry & Evidence, Mere Suspicions Insufficient

February 13, 2024 1911 Views 0 comment Print

Allahabad High Court upholds the deletion of an income tax addition under Section 68 for Paswara Papers Ltd., affirming the genuineness of the transaction.

Chandigarh ITAT allows additional evidence in assessments under section 144

February 12, 2024 1134 Views 0 comment Print

Chandigarh ITAT allows additional evidence in assessments under section 144, ensuring fair taxpayer treatment and legal compliance.

Clarification on Section 43B(h) for MSME Payments

February 12, 2024 8385 Views 1 comment Print

Understanding the implications of Section 43B(h) under the Income Tax Act for payments to MSMEs. Key insights for businesses on compliance, penalties, and tax benefits.

Rajkot ITAT Upholds Addition for Stock Discrepancy

February 12, 2024 501 Views 0 comment Print

Rajkot ITAT confirms gross profit estimation and stock addition for Raghuvanshi Cotton Ginning, highlighting the importance of accurate stock reporting.

No Section 69 Addition If Investment recorded in Books & Explanation Satisfactory

February 12, 2024 2124 Views 0 comment Print

Mumbai ITAT decision clarifies that no addition under Section 69 I-T Act is justified once the source of investment is proven, setting a precedent.

Safe Harbour Limit of 5% Under Section 50C(1) Deemed Retrospective

February 12, 2024 1764 Views 0 comment Print

Mumbai ITAT reiterates Sec 50C(1) as a measure against tax evasion by undervaluing property sales, emphasizing its retrospective application.

No Cessation of Liability u/s 41(1) as debt not written off in books

February 12, 2024 1266 Views 0 comment Print

ITAT Bangalore held that unless the debt has been written off in the books of accounts of both the assessees, it cannot be said that that cease to exist.

Section 43B(h) of Income Tax Act | Timely payments to MSMEs

February 12, 2024 4338 Views 0 comment Print

Discover the critical changes in Section 43B of the Income Tax Act, 1961, with clause (h) introduction, promoting timely payments to MSMEs from AY 2024-25 and its impact on businesses.

Section 80P(2)(d) deduction allowable to Co-Op Society on Interest Income from co-op banks

February 12, 2024 10200 Views 0 comment Print

Explore ITAT Mumbai’s interpretation on Section 80P(2)(d) deductions for Co-Op Societies on interest income from co-op banks, setting a precedent for future tax assessments.

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