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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


TDS/TCS, Invoicing, Due Dates, Interest, Late Fee and Penalties

Income Tax : Learn about TDS/TCS concepts, invoicing rules, due dates, interest, and late fees. Includes examples and simplified guidance for c...

May 11, 2025 2235 Views 0 comment Print

Optimizing Family Wealth: A Tax Impact Analysis of HUF Structure

Income Tax : Analyze the tax implications of the HUF structure in India, covering its formation, membership, rights, and financial management a...

May 11, 2025 2946 Views 0 comment Print

Corporate Social Responsibility: Taxation Aspects & Applicability of TDS

Income Tax : This article discusses whether TDS applies to CSR Expenses, under which sections and how Companies can stay compliant....

May 11, 2025 891 Views 2 comments Print

Foreign Tax Credit for Indian Residents: Complete Guide for Claiming FTC

Income Tax : Indian residents can claim credit for taxes paid on overseas income to avoid double taxation under Income Tax Act sections 90, 90A...

May 11, 2025 921 Views 0 comment Print

Claim or Grant of Delayed Income Tax Refunds Possible Via CBDT Rules

Income Tax : Taxpayers missing the ITR deadline can claim delayed refunds for TDS/advance tax paid, subject to limits and conditions under CBDT...

May 9, 2025 663 Views 0 comment Print


Latest News


Key Points to Claim Refunds in Your Income Tax Return

Income Tax : Income Tax Department warns against wrongful refund claims in ITRs. Explains consequences like penalties, scrutiny, prosecution, a...

May 12, 2025 2805 Views 0 comment Print

CBI Searches in IRS Officer Disproportionate Assets Case

Income Tax : CBI conducts searches at 11 locations in Jaipur, Ahmedabad, Gandhinagar in a disproportionate assets case against an IRS officer a...

May 12, 2025 288 Views 0 comment Print

Request for Timely Release of ITR Forms for AY 2025-26 and Updated Returns

Income Tax : Karnataka State Chartered Accountants Association raises concern over delayed release of ITR forms for AY 2025-26, pressing CBDT f...

May 2, 2025 8781 Views 1 comment Print

CBDT notifies Revised ITR 1 & ITR 4 for AY 2025-26: Key amendments

Income Tax : CBDT revises ITR Forms 1 & 4 for AY 2025-26, expanding eligibility criteria, adding disclosure requirements and simplifying compli...

May 1, 2025 2241 Views 2 comments Print

Direct Tax Collections for F.Y. 2024-25 as on 31.03.2025

Income Tax : Provisional direct tax data for FY 2024-25. Net collections reach ₹22,26,231 crore, a 13.57% increase. Corporate, non-corporate ...

April 30, 2025 1056 Views 0 comment Print


Latest Judiciary


Cash Deposits Recorded in Books Cannot Be Taxed as Unexplained Money Without Rejecting Accounts

Income Tax : ITAT Patna rules cash deposits recorded in books during demonetization cannot be taxed as unexplained money under Section 69A with...

May 13, 2025 51 Views 0 comment Print

Bombay HC Remands Assessment After Income Tax Dept Admits Denying Hearing

Income Tax : Bombay High Court remands Dev Marketing's tax assessment after Income Tax Department admits a bonafide error in denying a requeste...

May 13, 2025 33 Views 0 comment Print

ITAT Dismisses Appeal as Taxpyer Opts for Vivad Se Vishwas Scheme

Income Tax : Delhi ITAT dismisses Flovel Energy Pvt. Ltd.'s appeal for AY 2017-18 as the company chose the Vivad Se Vishwas scheme. Appeal can ...

May 13, 2025 57 Views 0 comment Print

ITAT Restores Trust’s Registration Application Missed Due to Legal Unawareness

Income Tax : ITAT Ahmedabad remands Chorasi Kadava Patidar Samaj trust's 12A/80G tax registration case. Applications rejected over missed notic...

May 13, 2025 30 Views 0 comment Print

Shares and Securities Held by Bank as Stock-in-Trade; Section 14A Inapplicable

Income Tax : Delhi High Court rejects Revenue appeal against Punjab & Sind Bank on securities, pension, 14A issues, citing coverage by earlier ...

May 13, 2025 21 Views 0 comment Print


Latest Notifications


CBDT Notifies New ITR-7 Form from April 1, 2025 for AY 2025-26

Income Tax : CBDT issues Income-tax (18th Amendment) Rules, 2025, substituting Form ITR-7. New form effective from April 1, 2025, under section...

May 10, 2025 675 Views 0 comment Print

CBDT revises ITR-V and Acknowledgement forms for AY 2025-26

Income Tax : CBDT revises ITR-V and Acknowledgement forms for AY 2025-26, effective April 1, 2025, with updated verification and filing instruc...

May 8, 2025 588 Views 0 comment Print

CBDT notifies ITR-Form 6 for AY 2025-26

Income Tax : CBDT Notification 44/2025 amends Income-tax Rules 1962, substituting FORM ITR-6 in Appendix II, effective from April 1, 2025....

May 7, 2025 4848 Views 0 comment Print

CBDT Notifies Revised ITR-2 for Assessment Year 2025–26

Income Tax : CBDT amends Income-tax Rules, 1962; introduces new ITR-2 form effective from 1st April 2025 via Notification No. 43/2025 dated 3rd...

May 5, 2025 4875 Views 0 comment Print

CBDT notifies ITR Form 5 for AY 2025-26

Income Tax : CBDT issues Income-tax (Fourteenth Amendment) Rules, 2025, effective April 1, 2025, replacing FORM ITR-5 in Appendix-II....

May 3, 2025 4824 Views 0 comment Print


Hotel Services Fee Not Taxable as Technical Fees: Delhi HC

May 9, 2025 297 Views 0 comment Print

Delhi High Court rules payments for hotel centralised services like marketing and reservations are not taxable as technical fees, citing prior judgment.

ITAT Mumbai Reduces Bogus Purchase Addition to 2% from 12.5%

May 9, 2025 6024 Views 0 comment Print

ITAT Mumbai cuts profit rate on alleged bogus paper purchases to 2%, citing low business margins and judicial precedent in assessee’s appeal.

No Substantial Question of Law in Profit Estimation Reduced by Appellate Authorities: Bombay HC

May 8, 2025 237 Views 0 comment Print

Court dismisses appeals focused solely on profit estimation, stating it does not involve a substantial question of law required for admission.

Scope of Section 254(2): Limited to Rectifying Apparent Mistakes, Not Reviewing or Recalling Orders

May 8, 2025 168 Views 0 comment Print

Mumbai ITAT dismisses Revenue’s application seeking rectification of order in Heart Foundation case over territorial jurisdiction claim.

Additions to Income Require Concrete Evidence, Not Mere Suspicion or Third-Party Information

May 8, 2025 315 Views 0 comment Print

Mumbai ITAT upholds deletion of Rs 1.96 crore tax addition in Dinesh Rohira case, ruling third-party evidence needs corroboration.

CBDT revises ITR-V and Acknowledgement forms for AY 2025-26

May 8, 2025 588 Views 0 comment Print

CBDT revises ITR-V and Acknowledgement forms for AY 2025-26, effective April 1, 2025, with updated verification and filing instructions.

Status of Charitable Trust’s not get affected for making reasonable payments to related party

May 8, 2025 354 Views 0 comment Print

Assessee was predominantly engaged in activities of imparting education and also involving the certain educational institutions. Assessee had filed its return of income for AY 2009-10 on disclosing nil income.

Provision of Spa Consultancy falls under ‘Independent Personal Services’ hence not taxable in India

May 8, 2025 216 Views 0 comment Print

ITAT Delhi held that fees for providing Spa Consultancy falls under the category of ‘Independent Personal Service’ and hence was not taxable in India and therefore assessee was not required to deduct TDS. Thus, disallowance u/s. 40(a)(ia) deleted.

Section 80-IB(10) deduction was allowable for timely completed wings and held remaining wing to be separate project

May 8, 2025 267 Views 0 comment Print

Assessee was a partnership firm engaged in real estate development, had undertaken a housing project named Aakash Nidhi. It claimed deduction under section 80-IB(10) amounting to Rs. 2,51,07,390 on the entire profit of the project comprising Wings A to G.

Benefit of exemption u/s. 11(1)(a) cannot be debarred for incurring more expense than income

May 8, 2025 246 Views 0 comment Print

ITAT Jaipur held that trust incurring more expenditure than income doesn’t debar it from benefit of exemption u/s. 11(1)(a) of the Income Tax Act in respect of income admittedly applied for charitable purpose. Accordingly, appeal of assessee allowed.

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