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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


An Overview of New Income Tax Bill, 2025

Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...

February 13, 2025 60 Views 0 comment Print

New Income Tax Bill 2025: FAQs on Key Changes

Income Tax : Understand key changes in proposed Income Tax Bill 2025. This FAQ covers definitions, tax year, non-profits, exemptions, salary, h...

February 13, 2025 177 Views 0 comment Print

New Income Tax Bill 2025: General FAQs and Broad Scope

Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...

February 13, 2025 804 Views 0 comment Print

New Income Tax Bill 2025 – Key Takeaways

Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...

February 13, 2025 2685 Views 0 comment Print

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 117 Views 0 comment Print


Latest News


Income Tax Bill 2025: Executive Summary on Income Tax Act Simplification

Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...

February 13, 2025 135 Views 0 comment Print

New Income-Tax Bill 2025: Section Mapping & Updates

Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...

February 13, 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 13, 2025 2430 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 165 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 561 Views 0 comment Print


Latest Judiciary


Allahabad HC Quashes Section 154 Orders for Laconic Reasoning, Natural Justice Breach

Income Tax : Allahabad HC quashes two Section 154 tax orders, citing laconic reasoning and violation of natural justice. Fresh hearing ordered....

February 13, 2025 51 Views 0 comment Print

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 54 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 30 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 255 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 72 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 120 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 123918 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


Notification No. 20/2024-Income Tax Dated: 6th February, 2024

February 6, 2024 9759 Views 1 comment Print

Stay updated on changes to the Income Tax Act with Notification No. 20/2024, issued by the Ministry of Finance. Learn about the amendments made under Section 118.

No reassessment u/s 147 on account of receipt of significant share premium as it lacked tangible evidence

February 6, 2024 1389 Views 0 comment Print

Reassessment notice issued under section 148 on the ground that how a newly incorporated company could command a significant share premium, was purely hypothetical and lacked tangible evidence and that could not be a tangible material for arriving at reason to believe escapement of income.

Urban Agricultural Land Sales Subject to Capital Gains Tax: ITAT Delhi

February 6, 2024 2724 Views 0 comment Print

Explore the ITAT Delhi’s decision in Dharam Pal Saini vs PCIT, upholding revision proceedings u/s 263 of the Income Tax Act. Learn about the assessment on sale of urban agricultural land and its implications on capital gains tax.

Draft Format of letter for filing objection to Section 148 Income Tax notice

February 6, 2024 18723 Views 0 comment Print

Learn how to draft a letter objecting to a notice under Section 148 of the Income Tax Act, 1961. Understand the legal aspects, necessary documentation, and key considerations.

Amendment to section 43B w.r.t. payment to Micro or Small Enterprises

February 6, 2024 5838 Views 0 comment Print

Explore amended Section 43B of Income Tax Act, 1961, focusing on payments to Micro or Small Enterprises. Learn criteria, time limits, and implications for traders. Stay informed!

Section 43B(h): Impact on Expenses under Income Tax Act & MSME Regulations

February 5, 2024 6585 Views 0 comment Print

Navigate the intricacies of Section 43B(h) of the Income Tax Act, 1961, alongside the MSME Act, 2006, and Companies Act, 2013. Uncover the impact on books, tax audits, and compliance.

Payment to MSMEs in 45/15 Days: Section 43B(h) Explained

February 5, 2024 225933 Views 9 comments Print

Explore the impact of Finance Act, 2023, on MSME payment enforcement under section 43B(h) of the Income Tax Act, 1961. Understand MSMED Act provisions, payment periods, interest rates, and the intersection with income tax regulations.

Decoding MAT: Unraveling Minimum Alternate Tax Landscape in India

February 5, 2024 1170 Views 0 comment Print

Unveiling the intricacies of Minimum Alternate Tax (MAT) in India. Understand its purpose, computation, and recent developments. Navigate the tax landscape with clarity.

Evolution of Equalization Levy: 2016 to 2020 and Impact on E-commerce

February 5, 2024 1128 Views 0 comment Print

Explore the evolution of India Equalization Levy, from its introduction in 2016 to the 2020 amendments, focusing on e-commerce operators. Learn about applicability, classifications, exemptions, and the impact on global tech giants.

About Form 1040, U.S. Individual Income Tax Return

February 5, 2024 705 Views 0 comment Print

Learn the essentials of tax forms 1040 and 1040-SR, understand the impact of Social Security Numbers on taxes, and explore crucial filing statuses and rules in this comprehensive tax guide.

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