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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


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 72 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 111 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 609 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 2676 Views 0 comment Print

Overview of The Income Tax Bill 2025

Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...

February 12, 2025 987 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 984 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 78 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 156 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


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 12 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 165 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 4119 Views 0 comment Print

ITAT Chennai Sets Aside addition for Unaccounted Jewellery per CBDT Instruction

Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...

February 12, 2025 48 Views 0 comment Print

Recovery of Income Tax Arrears from Auctioned Property Untenable: Kerala HC

Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...

February 12, 2025 117 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 84837 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


Return not filed due to wrong categorisation of PAN: HC quashes order & allows return filing

February 8, 2024 645 Views 0 comment Print

Read about case of Thiruvanmiyur Milk Consumer’s Co-operative Society Limited challenging assessment orders due to incorrect PAN categorization. High Court quashed orders and directed society to file returns electronically with corrected PAN.

Developer holding ownership of property liable to pay capital gain tax: ITAT Mumbai

February 8, 2024 648 Views 0 comment Print

ITAT Mumbai held that as ownership of property lies with the developer on the day of ‘agreement of sale’, sale consideration is taxable under capital gains in the hand of developer and not in the hands of assessee.

Addition of Annual let out value of unsold flats held as stock unsustainable: ITAT Mumbai

February 8, 2024 1857 Views 0 comment Print

ITAT Mumbai held that determination of Annual Let Out Value (ALV) of unsold flats held as stock-in-trade is not sustainable in law. Accordingly, addition of ALV of unsold flats deleted.

Revenue Fails to Substantiate Alleged Bogus Loss; Transaction Executed via BSE with STT Payment Deemed Genuine

February 8, 2024 1290 Views 0 comment Print

Duxton Hills Builders vs ACIT – ITAT Delhi rules on short-term capital loss. Transaction on Bombay Stock Exchange with STT deemed genuine, not sham or bogus.

Protection from Recovery Proceedings is Incumbent Upon Direction to Pursue Alternate Remedy: HC

February 8, 2024 387 Views 0 comment Print

Explore the Kerala High Court’s direction to Income Tax Authority in the Manath Muhammed Ismail Vs ACIT case, emphasizing stay on recovery during appeal proceedings.

University of Kerala case: HC directs CIT(A) to Consider Appeal Delay Condonation

February 8, 2024 345 Views 0 comment Print

Explore the case of University of Kerala facing demand and recovery proceedings due to an assessment order. Learn about the court’s directive to the appellate authority to expedite the consideration of delay condonation and interim stay applications.

ITAT Delhi: Deletion of Income Addition due to Duplicate Entries in Form 26AS

February 8, 2024 873 Views 0 comment Print

ITAT Delhi’s order in Julius Gerardus Van Wijck Vs DCIT case. Deletion of income addition from other sources due to duplicate entries in Form 26AS. Detailed analysis provided.

GSMA vs DCIT: ITAT Rules No Royalty on IMEI Database Fees

February 8, 2024 450 Views 0 comment Print

ITAT Delhi rules in favor of GSMA Limited. Administrative fees for IMEI database access not deemed royalty. Detailed analysis of the order and tax implications.

No Income Tax Section 35(1)(ii) Weighted Deduction on Donations after Expiry of Approval

February 8, 2024 1137 Views 0 comment Print

Understand case of Joshi Technologies International Inc Vs CIT regarding weighted deduction on donations under Section 35(1)(ii) of Income Tax Act. Learn why claim was deemed ineligible and implications.

All about filing an appeal before CIT(A)

February 8, 2024 31302 Views 1 comment Print

Understand the process of filing an appeal before CIT(A) with this comprehensive guide. Learn about eligibility, forms, fees, timelines, and the faceless appeal scheme.

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