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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


Mistakes to Avoid While Paying TDS on Rent for FY 2024-25

Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...

March 21, 2025 1368 Views 0 comment Print

Bombay HC Cracks Down on Tax Evasion Scheme in Buniyad Chemicals Case

Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...

March 20, 2025 3996 Views 0 comment Print

New Income Tax Bill, 2025 – How one should Read & Interpret a Law

Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...

March 20, 2025 924 Views 0 comment Print

Analysis of Impact & Effectiveness of Bilateral Investment Treaties

Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...

March 20, 2025 249 Views 0 comment Print

Deductions Under Section 57 of Income Tax Act, 1961

Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...

March 19, 2025 1350 Views 0 comment Print


Latest News


CBDT Seeks Input on Draft Income Tax Rules & Forms

Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...

March 19, 2025 366 Views 0 comment Print

Direct Tax & Advance Tax Collections for F.Y. 2024-25 as on 16.03.2025

Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...

March 17, 2025 654 Views 0 comment Print

CBDT Clarifies Guidance on Principal Purpose Test (PPT)

Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...

March 17, 2025 1026 Views 0 comment Print

Corporate Tax Collection Trends & Foreign Investment Policies

Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...

March 16, 2025 123 Views 0 comment Print

Impact of New Income Tax Bill 2025 on Compliance & Revenue

Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...

March 16, 2025 402 Views 0 comment Print


Latest Judiciary


Section 263 – CIT’s Power to Revise Erroneous & Prejudicial Assessment Orders: ITAT Ruling

Income Tax : ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...

March 21, 2025 1590 Views 0 comment Print

WhatsApp Messages Not Conclusive Evidence for Addition: ITAT Chennai

Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...

March 21, 2025 1443 Views 0 comment Print

ITAT Dismisses Revenue’s Appeal as Tax effect was Below Rs. 60 Lakh

Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...

March 20, 2025 5202 Views 0 comment Print

ITAT upholds Section 263 revision order, treating VRS benefits as taxable

Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...

March 20, 2025 357 Views 0 comment Print

Non-Resident Can’t Be Expected to Monitor Tax Portal After 8 Years, HC Sets Aside Assessment Order for Improper Notice

Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...

March 20, 2025 393 Views 0 comment Print


Latest Notifications


High-Risk e-Verification Cases: Instructions for AOs

Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...

March 20, 2025 615 Views 0 comment Print

CBDT allows data sharing with Delhi’s IT Dept. for social welfare scheme identification

Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...

March 19, 2025 111 Views 0 comment Print

CBDT FAQs on Revised Guidelines for Compounding Offences

Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...

March 18, 2025 5076 Views 0 comment Print

CBDT notifies Power Finance Corp Zero Coupon Bond under section 2(48)

Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...

March 11, 2025 1143 Views 0 comment Print

High-Risk and Non PAN Transaction Cases: Insight Portal Guidelines

Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...

March 7, 2025 756 Views 0 comment Print


Amount surrendered under unrecorded stock taxable as business income

July 21, 2023 1092 Views 0 comment Print

ITAT Pune held that that the amount surrendered under unrecorded stock has to be brought to tax under the head “business income” and no provision u/s. 115BBE of the Income Tax Act is attracted.

Adjustment of notional interest unsustainable as credit period extended to even non-associated enterprises without interest

July 21, 2023 555 Views 0 comment Print

ITAT Mumbai held that adjustment of notional interest for extended credit period to the associated enterprises unsustainable as assessee extended credit period to its non-associated enterprises without charging any interest.

Delay in filing of tax audit report due to technical breach without mala fide intention doesn’t attract 271B penalty

July 21, 2023 2079 Views 0 comment Print

ITAT Chennai held that delay in filing of tax audit report due to dispute between the directors of the assessee company is just a technical breach without any malafide intention. Hence, penalty u/s 271B not leviable.

Penalty u/s 271B not leviable for venial technical breach without mala fide intention

July 21, 2023 846 Views 0 comment Print

ITAT Chennai held that penalty under section 271B of the Income Tax Act cannot be levied for venial technical breach without any mala fide intention of the assessee as tax audit report submitted before completion of assessment proceedings.

Absence of Valid Notice u/s. 143(2): ITAT quashes Assessment Proceedings

July 21, 2023 5415 Views 0 comment Print

Analysis of Jigna Chetan Mehta Vs ACIT case about the validity of assessment proceedings in absence of a proper notice under section 143(2) of IT Act.

Addition for cash payment to builder in succeeding AY cannot be made in AY in dispute

July 21, 2023 2262 Views 0 comment Print

Uncover the details of the ITAT Ahmedabad ruling in Surendra Ramdhar Yadav vs ITO, where the tribunal condoned a 259-day delay in filing an appeal due to medical treatment. Explore the implications and impact of this case on the legal landscape.

ITAT directs re-adjudication in PF/ESI deduction Claim Case of Tripoto

July 21, 2023 942 Views 0 comment Print

Examination of the case between Tripoto Travel Private Limited and the ACIT, where ITAT directed re-adjudication on the income tax deduction claim for late deposit of employees’ contributions to PF/ESI.

Taxation and Treatment of Stock Market Investments

July 21, 2023 4017 Views 1 comment Print

“Learn about stock market transactions in India, types of trades, taxation rules, and turnover calculations. Understand tax audit requirements for investors and traders

ITAT deletes Disallowance for Guarantee Commission to Associate Enterprise

July 21, 2023 561 Views 0 comment Print

In Lease Plan India P Ltd vs. ITO, the ITAT Delhi deletes disallowance of guarantee commission deduction claimed on payment to Associate Enterprise. Understand the impact of this case on associated tax implications.

ITAT Chennai: Payments to Fertilizer Dealers Classified as Rebates, Exempt from TDS

July 21, 2023 525 Views 0 comment Print

Greenstar Fertilizers Limited wins case against ACIT in ITAT Chennai, clarifying that payments made to dealers for sales of fertilizers are rebates, not subject to TDS.

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