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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


Nil Tax Up To Rs. 12 Lakhs Income (FY 2025-26); Tax Computation With Illustrations & FAQs

Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...

February 11, 2025 4851 Views 0 comment Print

Section 194H Applicability on Commission of E-Commerce Operators

Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...

February 11, 2025 144 Views 0 comment Print

Budget 2025 Amendments to Section 72A: Impact on Tax Loss Carry-Forward

Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...

February 11, 2025 87 Views 0 comment Print

Enhanced Limits for Partners Remuneration: Section 40(b) & 194T

Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...

February 11, 2025 2028 Views 0 comment Print

2 Residential Houses: Income Tax issue simplified in budget 2025-26?

Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...

February 10, 2025 1551 Views 0 comment Print


Latest News


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 10413 Views 2 comments Print

Union Cabinet Approves New Income Tax Bill 2025 to Replace 1961 Act

Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...

February 8, 2025 12996 Views 1 comment Print

CBI Files Case Against 3 Tax Officials, 5 CAs for Sabotaging Faceless Tax Scheme

Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...

February 7, 2025 12342 Views 0 comment Print

India’s Tax Arrears Reach ₹42.64 Lakh Crore

Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...

February 6, 2025 42 Views 0 comment Print

Decriminalization of Minor Direct Tax Offenses in India

Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...

February 6, 2025 66 Views 0 comment Print


Latest Judiciary


Compounding of Income Tax Offences for belated Return filings: SC Ruling

Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....

February 11, 2025 3996 Views 0 comment Print

Section 269SS Not Applicable to Broker Acting as Agent or Facilitator of Payment

Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...

February 11, 2025 4233 Views 0 comment Print

Telangana HC Denies Agricultural Income Exemption for Uncultivated Land

Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...

February 11, 2025 201 Views 0 comment Print

SC Upholds Invalidity of Section 153C Notices Lacking Proper Satisfaction Note

Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...

February 11, 2025 741 Views 0 comment Print

Section 153C cannot extend indiscriminately to Multiple AYs: Delhi HC

Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...

February 11, 2025 2991 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 Views 0 comment 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 141 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 255 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 273 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 2577 Views 0 comment Print


New Income Tax Rules on Taxation of Life Insurance Policy Receipts

August 16, 2023 15699 Views 2 comments Print

Details of Sixteenth Amendment to Income Tax Rules (2023) on computation of income chargeable under life insurance policies as per Notification No. 61/2023.

Guidelines on Taxation of sum received under a life insurance policy

August 16, 2023 13491 Views 1 comment Print

Introduction: Circular No. 15 of 2023, issued by the Central Board of Direct Taxes, offers comprehensive insights into the intricate details of the guidelines under Clause (10D) of Section 10 within the framework of the Income-tax Act, 1961. This circular takes an in-depth look at the recent amendments, critical provisions, and exemptions associated with sums […]

TNMM is most appropriate method in absence of CUP which is applicable in intangibles

August 16, 2023 888 Views 0 comment Print

ITAT Hyderabad held that Transactional Net Margin Method (TNMM) was the most appropriate method in the absence of a Comparable Uncontrolled Price (CUP) which is applicable to the payment of technical service fee which is in nature of intangibles.

HC Dismisses Writ for Petitioner’s Delay in Approaching the Writ Court

August 16, 2023 1170 Views 1 comment Print

Analysis of Jay Shree Tea And Industries Limited Vs ACIT in Calcutta High Court. Judgement on delay in approaching writ court, AY 2013-14. Full text.

Why amortizing preliminary expenses over 5 years is unjust for businesses?

August 16, 2023 1521 Views 0 comment Print

Explore why amortizing preliminary expenses over 5 years is unjust for businesses. Urgent appeal to lawmakers for immediate tax reform to support startups and level the playing field

Breaking: Rs 15,000 Crore Tax Evasion Exposed in Insurance Sector as I-T Department Wraps Up Probe

August 16, 2023 4449 Views 0 comment Print

Income Tax (I-T) department has wrapped up its extensive investigation into insurance companies, exposing a staggering tax evasion totaling over Rs 15,000 crore.

Charitable Trusts’ Activities Shouldn’t Be Restricted to Specific Caste: ITAT directs Readjudication

August 15, 2023 5430 Views 2 comments Print

Learn about Mar Baselius Orthodox Syrian Church vs CIT(Exemption) case where ITAT Surat discusses charitable activities of trusts and application of section 13(1)(b).

Registration in Partner’s Name Doesn’t Preclude Partnership Firm from Claiming Vehicle Depreciation

August 15, 2023 8460 Views 0 comment Print

Read about the Vinod Textiles vs ACIT case where ITAT Ahmedabad discusses the claim of depreciation on a motor vehicle registered in a partner’s name.

HC Dismisses Writ Challenging Section 148A(d) Order, Citing Alternative Remedy

August 15, 2023 3861 Views 0 comment Print

Calcutta High Court ruling on invoking writ jurisdiction under Section 148A(d) of the Income Tax Act in Tezas Trading Co. case. Read the judgment here.

Revisionary Powers under Section 263: Error Must Be Factual or Legal

August 15, 2023 1950 Views 0 comment Print

Read the analysis of the Tata Aig vs CIT case where ITAT Mumbai discusses revisionary powers under Section 263 and assessment errors.

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