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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


Income Tax 1961 vs Income Tax Bill, 2025: Key Changes in Tax Provisions

Income Tax : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...

February 13, 2025 5043 Views 0 comment Print

Comparative Analysis: Income Tax Act 1961 vs. Income Tax Bill 2025

Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...

February 13, 2025 8631 Views 0 comment Print

USA Taxation 2024: Updated Guidelines for Individuals

Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...

February 13, 2025 216 Views 0 comment Print

वरिष्ठों को भी सभी स्तोत्रों से प्राप्त बारह लाख तक आय पर टैक्स छूट नहीं देना कहाँ तक उचित

Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...

February 13, 2025 570 Views 0 comment Print

Section 44AD: Presumptive Taxation for Small Businesses

Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...

February 13, 2025 1125 Views 0 comment Print


Latest News


Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961

Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...

February 13, 2025 2073 Views 0 comment Print

Income Tax Return Filings in India: Trends and Government Measures

Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...

February 12, 2025 156 Views 0 comment Print

Impact of Supreme Court Judgement On HUF Tax Benefits

Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...

February 12, 2025 435 Views 0 comment Print

Corporate Tax Collections & Incentives for Global Firms

Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...

February 12, 2025 42 Views 0 comment Print

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 10668 Views 2 comments Print


Latest Judiciary


Transfer of case u/s. 127 without granting personal hearing in bad-in-law: ITAT Raipur

Income Tax : ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being hear...

February 13, 2025 30 Views 0 comment Print

Order of Settlement Commission choosing one of two possible views cannot be interfered

Income Tax : Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Comm...

February 13, 2025 39 Views 0 comment Print

Penalty u/s. 271B deleted as reasonable cause shown: ITAT Bangalore

Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...

February 13, 2025 39 Views 0 comment Print

Source of gift satisfactorily explained: ITAT deleted addition

Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...

February 13, 2025 75 Views 0 comment Print

Indian AE Transactions at Arm’s Length, HC Says No More Attribution

Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...

February 13, 2025 60 Views 0 comment Print


Latest Notifications


Punjab RERA Notified for Income Tax Exemption under Section 10(46A)(b)

Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...

February 13, 2025 57 Views 0 comment Print

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 112224 Views 5 comments 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 186 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 327 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 339 Views 0 comment Print


Donation with specific direction on uses entitled for section 11 deduction

October 31, 2021 3339 Views 0 comment Print

Jeypore Evangelical Lutheran Church Vs ITO (ITAT Cuttack) From the narration given in the list of donations, it is observed that the amount of donation has been given for the specific purpose. The Assessing Officer has bifurcated three donations as specific purpose and left out other donations not being specific purpose without giving any reason. […]

Role of Working Capital Adjustments in Transfer Pricing

October 31, 2021 10536 Views 0 comment Print

Transfer pricing provisions was incorporated in the Income Tax Act in April 2001 and now it has travel the journey of almost two decades in India. If we give one line principal to the transfer pricing provisions then it is benchmarking of international transactions entered with associated enterprises with comparables transactions (internal or external comparables) […]

Grant Received by Subsidiary from its Holding – Revenue Receipt?

October 31, 2021 5577 Views 0 comment Print

Understanding the treatment of grants received by subsidiaries from their holding companies: Revenue Receipt or Capital Receipt? Find out the answer here.

Foreign Exchange Fluctuations – Is it Capital Loss/Gain?

October 31, 2021 5229 Views 0 comment Print

Understanding the tax implications of foreign exchange fluctuations in business. Exploring sections 4, 28(i), and 263 of the Income Tax Act, 1961.

Section 35(1)(ii): CBDT approves ‘Pimpri Chinchwad Education Trust’

October 31, 2021 1425 Views 0 comment Print

CBDT approves ‘Pimpri Chinchwad Education Trust’, Pune under the category ‘University, College or Other Institution’ for Scientific Research for section 35(1)(ii) of Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962. vide Notification No. 128/2021-Income Tax | Dated: 31st October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF […]

HC directed Trial where burden to prove was on assessee that no wilful intention for not filing ITR

October 31, 2021 5214 Views 0 comment Print

Raman Krishna Kumar Vs DCIT (Madras High Court) Conclusion: Since assessee had not filed the Income Tax Return instead of receiving substantial income in the form of salary and had also indulged in high end transactions with respect to purchase and sale of mutual funds and with respect to credit card transactions, therefore, High Court […]

Section 10(46) exemption to Gujarat State Aids Control Society

October 29, 2021 1086 Views 0 comment Print

Vide Notification No. 127/2021-Income Tax | Dated: 29th October, 2021 CBDT notifies Tax Exemption to Gujarat State Aids Control Society in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 127/2021-Income Tax New Delhi, the 29th October, 2021 […]

Section 10(46) exemption to Madhya Pradesh Pollution Control Board

October 29, 2021 1446 Views 0 comment Print

Vide Notification No. 126/2021-Income Tax | Dated: 29th October, 2021 CBDT notifies Tax Exemption to Madhya Pradesh Pollution Control Board in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 126/2021 – Income Tax New Delhi, the 29th […]

Section 10(46) exemption to Chandigarh Pollution Control Committee

October 29, 2021 918 Views 0 comment Print

Vide Notification No. 125/2021-Income Tax | Dated: 29th October, 2021 CBDT notifies Tax Exemption to ‘Chandigarh Pollution Control Committee’ in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 29th October, 2021 Notification No. 125/2021-Income Tax S.O. […]

Tax Audit: Appointment of Auditor on Income Tax Portal

October 29, 2021 8634 Views 1 comment Print

Tax Audit Auditor Appointment 1. Login to ITD Portal using Clients Credentials 2. Click e-File 3. Go to Income Tax Forms 4. Click on File Income Tax Forms 5. Search for Form 3CA/Form 3CB 6. Click on File Now 7. Fill in the Form as Below or search for Added CA from Drop Down or […]

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