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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 4953 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 8544 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 213 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 564 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 1113 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 2052 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 153 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 426 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 10668 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 30 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 39 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 39 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 75 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 60 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 51 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 111486 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 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 339 Views 0 comment Print


Section 11: Renovation Expenditure on School Building Allowable as Application of Income, Ownership Not a Prerequisite

February 1, 2024 582 Views 0 comment Print

Explore the ITAT Mumbais decision favoring Bombay Society of the Salesian Sisters India, allowing the expenditure on school building repairs and property taxes as an application of income for charitable purposes.

No Penalty on Estimated Addition for Bogus Purchases: ITAT Mumbai

February 1, 2024 480 Views 0 comment Print

Explore the case of Dombivali Paper Mfg. Co. challenging penalty under section 271(1)(c) for alleged bogus purchases. Detailed analysis, tribunal’s view, and legal insights provided.

Section 54F exemption disallowance cannot lead to imposition of penalty

February 1, 2024 618 Views 0 comment Print

Explore the case of Ramprasad Nigam vs ITO under Section 271(1)(c) for disallowed exemption claim under Section 54. The penalty is quashed based on accurate disclosure.

Purpose of Loan Acquisition Irrelevant in Determining Expenditure Nature: Revenue vs. Capital

February 1, 2024 435 Views 0 comment Print

Purpose for which loan was acquired is irrelevant to consideration of question whether expenditure/interest on such borrowed capital/loan was revenue expenditure or capital expenditure – Borkar Packaging Pvt. Ltd. Vs ACIT (ITAT Panaji)

Interim Budget 2024 – Personal Taxation – Key Aspects

February 1, 2024 1254 Views 0 comment Print

Explore the significant aspects of the Interim Budget 2024, covering personal tax rates, surcharge updates, old tax demands waiver, and expectations for the final budget.

Non-supply of relevant documents: HC set-aside Reassessment order & SCN

February 1, 2024 495 Views 0 comment Print

Explore the Chhattisgarh High Courts full judgment in Vinod Lalwani vs Union of India under the Income Tax Act. Detailed analysis of the order, objections, and implications.

HC Criticizes Vague Show Cause Notice, Likens Search to ‘Finding a Needle in a Haystack

February 1, 2024 969 Views 0 comment Print

Explore the Delhi High Court judgment in Mahashian Di Hatti Pvt. Limited Vs DCIT regarding an income tax notice. Detailed analysis, key points, and legal implications.

Jurisdictional Submission Required for Continuing Section 148 Notice against Deceased’s Legal Representative

February 1, 2024 777 Views 0 comment Print

Chandreshbhai Jayantibhai Patel Vs ITO (Gujarat High Court): Notice issued to a dead person under Section 148 cannot be continued against the legal representative unless the legal representative submits to jurisdiction without raising objections

SOP for CBDT Transfers: Streamlining Postings and Transfers Process

February 1, 2024 1227 Views 0 comment Print

Explore the new Standard Operating Procedure (SOP) for CBDT transfers at the level of US and above. Learn the process, guidelines, and how officers can apply. Stay informed!

Taming the Tax Tiger: India’s Digital Revolution in Tax Administration & Compliance

February 1, 2024 1113 Views 0 comment Print

Explore the metamorphosis of India tax landscape through digitalization and artificial intelligence. Uncover the impact, ongoing efforts, and future advancements shaping tax administration and compliance

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