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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


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 123 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 669 Views 0 comment Print

Taxation On Online Gambling in India: A Win or Lose for Industry?

Income Tax : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...

March 19, 2025 477 Views 0 comment Print

New Section 194T TDS Rules: Impact on Taxpayers, Effective April 2025

Income Tax : New TDS Rules Under Section 194T: Impact on Taxpayers & Businesses – Effective from 1st April 2025 Introduction The Finance ...

March 18, 2025 1578 Views 0 comment Print

AI, Automation, Recession, and Income Tax Law in India

Income Tax : Explore the economic impact of AI, automation, and recession on India. Understand how income tax laws may evolve to address unempl...

March 18, 2025 366 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 252 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 591 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 771 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 108 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 354 Views 0 comment Print


Latest Judiciary


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 303 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 129 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 108 Views 0 comment Print

Section 245 Income Tax refund adjustments must adhere to principles of natural justice

Income Tax : Bombay HC quashed Trent Ltd.’s tax refund adjustment under Section 245 of the IT Act, citing a violation of natural justice. Rev...

March 20, 2025 129 Views 0 comment Print

Tax reassessment based on a cancelled PAN was invalid: ITAT Pune

Income Tax : ITAT Pune dismisses revenue appeal, upholding CIT(A)'s decision that a tax reassessment based on a cancelled PAN was invalid....

March 20, 2025 198 Views 0 comment Print


Latest Notifications


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 42 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 4479 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 1122 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 708 Views 0 comment Print

High-Risk CRIU/VRU Cases and proceedings under Sections 148/148A

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

March 7, 2025 660 Views 0 comment Print


ITR Forms Applicable for FY 2022-23 (AY 2023-24)

February 25, 2023 72693 Views 2 comments Print

As the return filing season for FY 2022-23 (AY 2023-24) would start soon it’s important to understand which forms to be used for filing of the return, as selecting the wrong form may jeopardize the whole exercise of return filing and may have multiple adverse consequences.

Detailed Analysis of UAE Corporate Tax

February 24, 2023 11169 Views 0 comment Print

UAE Corporate Tax Guide Navigating the New Tax Landscape Essential insights on the implementation, rates, exemptions, and compliance under UAEs Corporate Tax regime effective June 2023.

Education cess paid by assessee is not allowable as expense u/s. 37

February 24, 2023 1455 Views 0 comment Print

Held that education cess paid by the respondent-assessee is not allowable as an expenditure under Section 37 read with 40(a)(ii) of the Income Tax Act.

Sale of property taxable under capital gain as property held for considerable longer time period

February 24, 2023 24939 Views 0 comment Print

ITAT Delhi held that property sold is to be taxed under Capital gain as the property was held for considerable longer period of time and assessee is not engaged into systemic real estate business activity.

Notice issued without sufficient reasons to initiate reassessment is not sustainable

February 24, 2023 2712 Views 0 comment Print

HC quashed section 148 notice issued without sufficient reasons to initiate reassessment proceedings without satisfying conditions precedent under Section 147

Allowability of warranty provision in Income Tax Act, 1961

February 23, 2023 14685 Views 0 comment Print

Clarifying Warranty Provisions Deduction in IT Act, 1961 Navigate the complexities of claiming deductions for warranty provisions with legal insights.

Interest u/s 234B(2A) payable only on balance additional tax payable after excluding prepaid tax

February 23, 2023 1983 Views 0 comment Print

Gujarat High Court held that interest under section 234B(2A) of the Income Tax Act is payable only on the balance additional tax payable after allowing credit of prepaid tax.

When Tribunal order directs designated authority to calculate disputed tax, same should be done without fresh examination

February 23, 2023 537 Views 0 comment Print

Bombay High Court held that order of Tribunal directed the designated authority to calculate the tax amount applying the ratio of Mohommad Haji Adam & Co case. Designated authority had only to calculate the disputed tax by giving effect to the orders of the Tribunal. Order of Tribunal was not directing fresh examination on any issue.

Payment towards brokerage service not covered as FTS/FIS is not taxable in India

February 23, 2023 1404 Views 0 comment Print

ITAT Mumbai held that there is no element of technical knowledge, experience, skill knowhow or process in the rendering of brokerage services. Therefore, the payment of brokerage by the assessee to the brokers not being covered as FTS-FIS is not taxable in India either pursuant to Sec. 9(1)(vii)

Reopening of assessment despite full & true disclosure of material facts is unjustifed

February 23, 2023 1260 Views 0 comment Print

Bombay High Court held that reopening of assessment in absence of failure on the part of the assessee to disclose fully and truly the material facts and also in absence of any tangible material is unjustifiable.

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