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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


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 2172 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 147 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 162 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 846 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 501 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 273 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 603 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 804 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 360 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 441 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 180 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 189 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 234 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 276 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 54 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 4560 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 720 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 663 Views 0 comment Print


Certain amendments in Budget 2023 pertaining to Trusts or Institutions

February 12, 2023 7575 Views 0 comment Print

Stay up to date with the 2021 Budget Amendments pertaining to Trusts or Institutions to ensure compliance with Section 10(46) of the IT Act, 1961. Get the information here

Request for Extension of Income Tax Return Filing Deadline

February 12, 2023 111882 Views 8 comments Print

The Advocates’ Tax Bar Association, a registered association under the Societies Act, has written a letter to the Minister of Finance requesting an extension of the income tax return filing deadline. The letter highlights the challenges faced by taxpayers and tax professionals, particularly in flood-affected regions, and seeks compassionate consideration during these exceptional circumstances. The […]

Addition of mere book entry unsustainable

February 11, 2023 5295 Views 0 comment Print

ITAT Chandigarh held that addition of mere book entry unsustainable as no amount has been received and no adverse interference with regard to the same has been drawn by the department.

Compensation received due to non-performance of obligation is capital receipt

February 11, 2023 6309 Views 0 comment Print

ITAT Mumbai held that compensation received on account of non-performance of obligation by the Delhi Development Authority (DDA) is capital receipt not taxable in the hands of the assessee.

As per India-Japan DTAA, levy of surcharge and cess cannot exceed tax rate of 10%

February 11, 2023 3696 Views 1 comment Print

ITAT Delhi held that levy of surcharge and cess cannot exceed the tax rate of 10% as per India – Japan DTAA. Accordingly, as per article 12 of India – Japan tax treaty the tax to be charged on royalty and FTS shall not exceed 10% of the gross amount of royalty or FTS.

Assessee doesn’t become US resident by mere securing house on rent in USA

February 11, 2023 909 Views 0 comment Print

ITAT Hyderabad held that mere securing a house on rent in the USA is not the conclusive fact that the assessee had become a USA resident to allow DTAA benefit.

Denial of TDS credit as corresponding turnover reflected in earlier year is untenable

February 11, 2023 2484 Views 0 comment Print

ITAT Ahmedabad TDS credit cannot be denied on the ground that corresponding turnover has been offered to tax in the earlier assessment year.

Gross Direct Tax Collections for F.Y. 2022-23 – 24.09% higher than last year as on 10.02.2023

February 11, 2023 1086 Views 0 comment Print

Direct Tax Collections for F.Y. 2022-23 at ₹15.67 lakh crore – 24.09% higher than gross collections for corresponding period of last year as on 10.02.2023 Direct Tax collection, net of refunds, stands at ₹12.98 lakh crore – 18.40% higher than net collections for corresponding period of last year The provisional figures of Direct Tax collections […]

194A: TDS on Interest other than Interest on securities

February 11, 2023 13923 Views 0 comment Print

Expert insight into Section 194A TDS on Interest other than Interest on securities from an Article. Learn about liability, exemptions, more

TDS Rate Chart for FY 2023-2024 (AY 2024-2025)

February 11, 2023 838437 Views 3 comments Print

TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.

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