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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


Deemed Ownership of a Property [Section 27 of Income Tax Act, 1961]

Income Tax : Understand deemed ownership under Section 27 of the Income Tax Act, 1961. Learn about conditions where non-legal owners are treate...

June 30, 2024 123 Views 0 comment Print

Precautions to be taken to shift from new scheme to old scheme while filing Income tax return

Income Tax : Discover essential precautions when shifting from the new income tax scheme to the old one using Form 10-IEA. Understand the proce...

June 30, 2024 1254 Views 0 comment Print

Sec 54 & 54F exemptions aren’t just for Property Owners: Here’s How you and your spouse/Legal Heirs can benefit

Income Tax : Discover how Section 54 & 54F exemptions extend beyond property owners to include spouses and legal heirs. Explore recent ITAT rul...

June 29, 2024 2109 Views 0 comment Print

Judicial Interpretation of Income Tax Law in India

Income Tax : Introduction to Judicial Interpretation of Income Tax Law in India The judicial elucidation of income tax legislation in India pla...

June 29, 2024 603 Views 0 comment Print

Tax Free Income: There is no tax on these earnings, check before filing ITR

Income Tax : Discover what income is tax-free and save on your taxes. Learn about untaxed earnings before filing your ITR. Stay updated!...

June 27, 2024 1311 Views 0 comment Print


Latest News


CPC (TDS) Reminder: File TDS Statement 26Q for Q4 F.Y. 2023-24 Now

Income Tax : Receive a reminder from CPC (TDS) to file your TDS Statement 26Q for Quarter 4, F.Y. 2023-24. Understand implications of non-compl...

June 26, 2024 1413 Views 1 comment Print

Changes on e-filing portal and Common issues while filing ITR

Income Tax : Discover essential updates on the e-filing portal for ITR 2024-25, including changes in forms, bank validation, refund status, sta...

June 25, 2024 12609 Views 1 comment Print

FAQs on ITR-7

Income Tax : Learn who can file ITR-7, how to file it, required information, and mandatory schedules. Detailed guide for assessees under variou...

June 22, 2024 3498 Views 0 comment Print

Budget Memorandum 2024 & suggested Amendments to Income-tax Act 1961

Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...

June 20, 2024 3102 Views 0 comment Print

Direct Tax Collections Surge by 22.19% in FY 2024-25

Income Tax : Gross Direct Tax collections for FY 2024-25 grow by 22.19%. Net Direct Tax collections up 20.99%. Advance Tax collections hit Rs. ...

June 18, 2024 348 Views 0 comment Print


Latest Judiciary


Dumping of cart loads of documents does not shift burden of proof to revenue

Income Tax : Read the full text of the ITAT Kolkata order on Bisakha Sales Pvt. Ltd. Vs CIT, covering assessment year 2008-09. Explore the appe...

June 30, 2024 750 Views 0 comment Print

ITAT Kolkata deletes Addition for Share Capital of Rs. 1.54 Crore

Income Tax : Explore the detailed analysis of ITO Vs Axisline Investment Consultants Pvt. Ltd. case where ITAT Kolkata deleted Rs. 1.54 crore a...

June 30, 2024 126 Views 0 comment Print

Share application amount cannot be added twice in payees & recipients’ hands u/s 68  

Income Tax : ITAT Kolkata held in ITO Vs Happy Structure Pvt. Ltd.  that share application amount cannot be added twice under Section 68 of In...

June 30, 2024 135 Views 0 comment Print

Section 68 addition based on conjectures & surmises not justified: ITAT Kolkata

Income Tax : Satyam Smertex pvt. Ltd. Vs DCIT (ITAT Kolkata): Addition made by AO and confirmed by CIT(A) are based on conjectures and surmises...

June 30, 2024 90 Views 0 comment Print

Validity of Section 148 notice by Jurisdictional AO instead of Faceless AO

Income Tax : Analysis of Swarn Singh Vs ITO (ITAT Amritsar) on validity of notice u/s 148 by Jurisdictional Assessing Officer (JAO) vs Faceless...

June 29, 2024 3156 Views 0 comment Print


Latest Notifications


CBDT Order under DTVsV Act 2020 on acceptance of delayed Payment

Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...

June 29, 2024 357 Views 0 comment Print

CBDT notifies 6 from to be submitted electronically wef 27th June 2024

Income Tax : CBDT issued Notification No. 01/024-25-Income Tax dated 24th June 2024, specifying Form 3CN, Form 3CS, Form 3CEC, Form 3CEFB, Form...

June 29, 2024 516 Views 0 comment Print

Section 10(46) exemption to Kerala Co-operative Deposit Guarantee Fund Board

Income Tax : Discover the impact of Notification No. 51/2024-Income Tax by the Ministry of Finance on the Kerala Co-operative Deposit Guarantee...

June 12, 2024 318 Views 0 comment Print

Budget 2024: CBDT invites Suggestions on changes in direct & indirect taxes 

Income Tax : Explore suggestions from trade associations for Budget 2024-25 on changes in direct and indirect taxes. Submit proposals for tax s...

June 12, 2024 756 Views 0 comment Print

Income Tax Section 10(46) exemption notification: Real Estate Appellate Tribunal Punjab

Income Tax : Learn about the Notification under section 10(46) of the Income Tax Act 1961 for the Real Estate Appellate Tribunal Punjab. Detail...

June 7, 2024 330 Views 0 comment Print


Section 292BB cannot cure defect in notice to deceased assessee  

June 9, 2024 447 Views 0 comment Print

Read the detailed analysis of Late Lodaya Navalbai Vs ITO case by ITAT Bangalore. Learn why the reassessment proceedings were quashed and its implications.

Voluntary Compensation in lieu of ESOP Not Part of Salary: Delhi HC in Flipkart-Phonepe Case

June 9, 2024 7194 Views 2 comments Print

In the case of Sanjay Baweja Vs DCIT, the Delhi High Court ruled that one-time payments in lieu of ESOPs do not constitute salary under Section 17 of the Income Tax Act.

Delay in SFT-005 Filing: Excuse of Server Issue Rejected by ITAT

June 9, 2024 213 Views 0 comment Print

Read about the case of Waghodia Urban Co. Op. Bank Limited vs. Director of Income Tax regarding a penalty levied under Section 271FA for delay in filing SFT-005, where the excuse of server issue was dismissed.

ITAT deletes Section 271(1)(c) penalty for Non-application of mind

June 9, 2024 537 Views 0 comment Print

Read the detailed analysis of ITAT Ahmedabad’s order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner status and lack of concealment discussed.

No Income arises due to Transfers of amount from Current to Deposit Account

June 9, 2024 297 Views 0 comment Print

ITAT Chennai’s order regarding the transfer from current to deposit account as non-income, and deletion of addition. Full text of the order provided.

Due Date Compliance Calendar May 2024

June 9, 2024 1853754 Views 71 comments Print

Stay updated with the compliance due dates for GST, Income Tax, ESI, and PF Acts. This comprehensive calendar includes important dates for GSTR-1, GSTR-3B, ITC-04, GSTR-5 & 5A, GSTR-6, GSTR-7, GSTR-8, TDS/TCS payment, Advance Tax payment, TDS/TCS certificate issuance, Aadhaar-PAN linking, PF/ESIC payment, and PF return filing.

IT New Tax Regime Vs Old – Sec 115BAC

June 9, 2024 2925 Views 0 comment Print

Explore the changes between old and new tax regimes under Sec 115BAC, impacting deductions, exemptions, and filing options. Make informed decisions for your finances.

TCS reported as payable in Audit Report cannot be added back to income u/s 43B

June 8, 2024 1263 Views 0 comment Print

ITAT Amritsar decision on Aay Kay Manufacturing Co. Vs ITO-CPC discusses TCS payable and Section 43B compliance, offering key insights for taxpayers.

Interpretation of Phrase “May be taxed” used in Paragraph 3 of Article 23 of India- UK DTAA, 1993

June 7, 2024 711 Views 0 comment Print

Explore the purpose of Double Taxation Avoidance Agreements (DTAA) and their interpretation, along with landmark judgments shaping tax treaties.

No Section 56(2)(viib) on Loan Conversion to Equity; Choice of Valuation Method with Assessee, not AO

June 7, 2024 1053 Views 0 comment Print

Explore the implications of the PCIT Vs I.A. Hydro Energy case regarding loan conversion to equity under Section 56(2)(viib) of the Income Tax Act, 1961, highlighting the choice of valuation method with the assessee.

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