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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


Section 194T: TDS on Certain Payments Made to Partners by Firm

Income Tax : Understand Section 194T on TDS for partner payments by firms, effective from 1 April 2025. Know applicable payments, rates, thresh...

April 28, 2025 60 Views 0 comment Print

Assessment of Deceased Person Under Income Tax Act, 1961

Income Tax : Understand how income from a deceased person’s estate is assessed, including executor responsibilities, WILL provisions, and leg...

April 27, 2025 2295 Views 0 comment Print

Old Tax Regime vs. New Regime: Which to Choose for Financial Year 2025-26?

Income Tax : Compare the old and new tax regimes for FY 2025-26 to find out which one suits your financial situation, with details on exemption...

April 27, 2025 1515 Views 0 comment Print

1% TCS on Luxury Goods (Effective April 22, 2025)

Income Tax : Notification No. 36/2025-Income Tax dated 22nd April 2025. For the first time, certain luxury goods priced above 10 lakh will attr...

April 27, 2025 723 Views 0 comment Print

Legal and Tax Concept Differentiators

Income Tax : Understand key differences between legal and tax terms like Act vs Rule, Exemption vs Deduction, TDS vs TCS, and more for better c...

April 25, 2025 510 Views 0 comment Print


Latest News


CBI Arrests IRS Officer for Sabotaging Faceless Tax Assessment Scheme

Income Tax : CBI arrests IRS officer and private individual for allegedly undermining the Faceless Tax Scheme by leaking confidential info for ...

April 26, 2025 1674 Views 0 comment Print

CBDT Notification 38/2025: Settlement Expense Non-Deductibility – FAQs

Income Tax : Understand CBDT's Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violat...

April 25, 2025 4584 Views 0 comment Print

Inordinate Delay in Disposal of Appeals by National Faceless Appeal Centre

Income Tax : Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpa...

April 24, 2025 573 Views 0 comment Print

ITAT enables e-filing and virtual hearings

Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...

April 5, 2025 2568 Views 1 comment Print

Exemption From Income Tax on Annual Income Up To ₹12 Lakh

Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...

April 3, 2025 2181 Views 1 comment Print


Latest Judiciary


Section 50 Inapplicable Without Depreciation Claim on Depreciable Assets: Karnataka HC

Income Tax : Karnataka High Court rules that Section 50 of the Income Tax Act is not applicable without an actual depreciation claim, even if t...

April 28, 2025 21 Views 0 comment Print

CIC to reconsider RTI application as inclusion of name in Undesirable Contact Men list is violation of human rights

Income Tax : The petitioner is a practicing Chartered Accountant, residing in New Delhi. His name was included in a list of “Undesirable Cont...

April 28, 2025 18 Views 0 comment Print

Short term capital gain on depreciable assets u/s. 50 will be taxed @20% as per section 112

Income Tax : ITAT Mumbai held that the rate of tax on a short term capital gain on depreciable assets u/s. 50 has been held to be the rate of l...

April 28, 2025 15 Views 0 comment Print

Matter restored for granting adequate and effective opportunity of being heard: ITAT Delhi

Income Tax : ITAT Delhi restored the matter to the file of the Assessing Officer with the direction to pass order after affording reasonable, a...

April 28, 2025 36 Views 0 comment Print

Revision u/s. 263 not justified as AO took plausible view: ITAT Mumbai

Income Tax : ITAT Mumbai held that invocation of revisionary proceedings under section 263 of the Income Tax Act not justified since AO has tak...

April 28, 2025 60 Views 0 comment Print


Latest Notifications


Mysore Palace Board Income Tax Exemption Notification – Section 10(46)

Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...

April 25, 2025 123 Views 0 comment Print

Expenses for Settlement of SEBI & Competition & Depositories Act Violations not allowable

Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...

April 24, 2025 204 Views 0 comment Print

Notification u/s 10(46A) of Income Tax Act in case of National Mission for Clean Ganga

Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...

April 23, 2025 96 Views 0 comment Print

CBDT notifies 10 new items on which TCS needs to be collected

Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ケ10 lakh, effectiv...

April 23, 2025 17112 Views 1 comment Print

CBDT amends form No. 27EQ and added 10 new items for TCS Reporting

Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...

April 23, 2025 1635 Views 0 comment Print


Gujarat HC Quashes Section 148 Notice Following ITAT Deletion of Prior Year Addition

April 16, 2025 1851 Views 0 comment Print

Gujarat High Court quashes Income Tax notice u/s 148 and order u/s 148A(d) against Ammann India, citing non-consideration of ITAT order.

ITAT Quashes Assessments Over Common & Mechanical Approvals for Multiple Years

April 16, 2025 693 Views 0 comment Print

ITAT Delhi quashes assessment orders against Splendor Landbase and its director, faulting the JCIT’s mechanical approval under Section 153D.

ITAT Delhi Upholds CIT’s Order for Fresh Assessment Over Unverified Cash Deposits

April 16, 2025 1932 Views 0 comment Print

ITAT Delhi dismisses Ankush Garg’s appeal, upholding CIT’s order for fresh assessment due to lack of inquiry on cash deposits.

Perfunctory or mechanical approvals under Section 151 are invalid: ITAT Delhi

April 16, 2025 1356 Views 0 comment Print

ITAT Delhi cancels reassessment in Jagbir Singh’s case due to invalid approval under Section 151. Legal jurisdiction under Section 147 found to be flawed.

Legal Error Ignoring Binding SC Judgment Cannot Be Corrected Through Appellate Remedies

April 16, 2025 549 Views 0 comment Print

Kerala High Court quashes IT assessment for Poonjar Service Co-operative Bank and directs reassessment following Supreme Court’s Mavilayi ruling.

Reassessment Void as Reopening Initiated by Officer Without Jurisdiction: ITAT Delhi

April 16, 2025 525 Views 0 comment Print

ITAT Delhi sets aside reassessment order against Tirlok Singh citing jurisdictional errors in notice issued under Section 148 by ITO Kurukshetra.

Reassessment Proceedings Without Proper Jurisdiction Void Ab Initio: ITAT Chandigarh

April 16, 2025 1035 Views 0 comment Print

ITAT Chandigarh annuls reassessment against Manjit Singh due to jurisdictional error by ITO Dasuya in issuing notice under Section 148.

ITAT Quashes Assessment Framed by Non-Jurisdictional AO for Lack of Authority

April 16, 2025 459 Views 0 comment Print

ITAT Chandigarh cancels income tax reassessment of Manjeet Singh, citing lack of jurisdiction and procedural errors by the Assessing Officer.

Levy of Surcharge Unwarranted as Income Did Not Exceed ₹50 Lakhs: ITAT Mumbai

April 16, 2025 312 Views 0 comment Print

ITAT Mumbai rules in favor of Lintas Trust on surcharge issue, clarifying no surcharge applies when income is below ₹50 lakh as per Finance Act provisions.

Optra Health Vs ACIT: Bombay HC Allows ITR Name Change

April 16, 2025 93 Views 0 comment Print

Bombay HC permits Optra Health to correct ITR name error for AY 2017-18 after delay due to internal issues. Court emphasizes justice over technicalities.

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