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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


Taxation of Indian & Overseas IPL Players

Income Tax : Explore the tax implications for IPL players, including income tax for Indian and overseas players, TDS rates, and the role of DTA...

December 18, 2024 801 Views 0 comment Print

Taxation framework for Startups in India

Income Tax : Explore the taxation framework for startups in India, including tax holidays, ESOPs, and angel tax exemptions under the Income Tax...

December 16, 2024 1209 Views 0 comment Print

Condonation of Delay for Filing Forms 9A, 10, 10B, 10BB Post-18th Nov 2024

Income Tax : New Application for Condonation of Delay in Filing Forms 9A, 10, 10B, and 10BB Post 18th November 2024 as per Circular No. 16/2024...

December 16, 2024 1002 Views 0 comment Print

India’s MFN Clause Controversy: $100 Billion Investment at Risk

Income Tax : India-Switzerland MFN clause suspension may cost $100 billion in Swiss investment, raising tax rates on dividends and impacting th...

December 16, 2024 519 Views 0 comment Print

Reassessment Post-TOLA & Finance Act 2021: Union of India v. Rajeev Bansal

Income Tax : SC clarifies reassessment notices under TOLA and Finance Act 2021 in Union of India v. Rajeev Bansal. Learn how decision impacts t...

December 16, 2024 1101 Views 0 comment Print


Latest News


Decriminalization Of Minor Offences In Direct Taxes

Income Tax : Government decriminalizes minor direct tax offences, simplifies compliance, and improves litigation management. Key changes includ...

December 17, 2024 162 Views 0 comment Print

PAN 2.0 Project: Key Details and Financial Implications

Income Tax : PAN 2.0 focuses on process upgrades for taxpayers with no mandatory new PAN card. Existing cards remain valid. Estimated cost: ₹...

December 17, 2024 354 Views 0 comment Print

CBDT Launches E-Campaign to Resolve Income and Transaction Mismatches

Income Tax : CBDT's electronic campaign helps taxpayers fix mismatches in income and transactions for FY 2023-24 and 2021-22. Revised ITRs can ...

December 17, 2024 3597 Views 0 comment Print

Representation & Suggestions on Direct Tax Vivad Se Vishwas Scheme 2024

Income Tax : KSCAA raises concerns and provides suggestions for improving the Direct Tax Vivad Se Vishwas Scheme 2024 to the CBDT....

December 16, 2024 3933 Views 0 comment Print

No Corporate Tax Written Off by Government (FY 2019-20 to FY 2024-25)

Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....

December 11, 2024 486 Views 0 comment Print


Latest Judiciary


Matter remitted as lower authorities failed to examine evidences with regard to deduction u/s. 80P(2)(a)(i)

Income Tax : The assessee is a souharda cooperative society duly registered under the Karnataka Souharda Sahakari Act, 1997 and is engaged main...

December 18, 2024 99 Views 0 comment Print

Addition towards undisclosed receipts not sustainable since amount reconciled: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that addition towards undisclosed receipts not sustainable since the amount stand reconciled. Accordingly, ord...

December 18, 2024 60 Views 0 comment Print

Stay granted on payment of 10% of tax demand since department failed to furnish appropriate proof of alleged demand

Income Tax : Madras High Court granted stay on payment of 10% of tax demand since the respondent/ department failed to furnish proof against al...

December 18, 2024 39 Views 0 comment Print

Exemption u/s. 54F admissible in respect of only one residential property: Delhi HC

Income Tax : Delhi High Court held that in case of investment in two residential properties, exemption under section 54F of the Income Tax Act ...

December 18, 2024 84 Views 0 comment Print

Condonation of 2564-Day Delay Allowed as No Undue Benefit from Not Appealing Assessment Order

Income Tax : Assessee had given reasons that as per the previous counsel, late Shri R.R. Jain (C.A.) had given advice no separate appeal agains...

December 18, 2024 339 Views 0 comment Print


Latest Notifications


Guidance Note 2/2024 on Direct Tax Vivad se Vishwas Scheme, 2024

Income Tax : Circular No. 19/2024 offers clarifications on the eligibility and settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024....

December 17, 2024 1116 Views 0 comment Print

Amendment to Income Tax Notification No. 44/2020

Income Tax : CBDT amends Notification No. 44/2020 under Section 10(23FE) of Income-tax Act. Changes take effect from publication in the Officia...

December 12, 2024 1611 Views 0 comment Print

Income Tax: Tamil Nadu Courts Designated for Black Money Act Cases

Income Tax : Notification designates special courts in Tamil Nadu under the Income Tax Act, 1961, and Black Money Act, 2015, for specific distr...

December 11, 2024 255 Views 0 comment Print

IIIT Hyderabad Approved for Section section 35(1)(ii) Scientific Research Tax Benefits

Income Tax : The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25...

December 4, 2024 192 Views 0 comment Print

Functionality to pass Assessment orders in Assessment Module of ITBA

Income Tax : Overview of steps in the ITBA Assessment Module for passing assessment orders, including income computation, feedback, and order g...

December 4, 2024 3498 Views 0 comment Print


Income Tax Section 179 not applies to public limited companies: Rajasthan HC

November 27, 2024 450 Views 0 comment Print

Rajasthan HC rules Section 179 of the IT Act doesn’t apply to public limited companies, quashing notices against the director. (160 characters)

PAN 2.0 अपग्रेड: टैक्सपेयर के लिए महत्वपूर्ण प्रश्नोत्तर

November 27, 2024 2250 Views 0 comment Print

PAN 2.0 के बारे में जानें, पुराने PAN धारकों के लिए आवश्यक अपडेट और FAQs।

Updated List of 29 Banks For Income Tax Payments on e-Filing Portal

November 27, 2024 39342 Views 4 comments Print

Comprehensive list of 29 banks available at the e-Filing Portal’s e-Pay Tax service. Find out the new and migrated banks, along with the respective dates of enablement. Simplify your tax payments with these trusted banking options.

Section 68 Addition Set Aside Due to Lack of Independent Investigation by AO: ITAT Surat

November 27, 2024 615 Views 0 comment Print

ITAT Surat held that addition under section 68 of the Income Tax Act is not sustainable since AO has not made any independent investigation of fact. Accordingly, ad hoc disallowance @10% upheld to avoid the possibility of revenue leakage.

Actual Turnover of Licensed Chillies Commission Agent is Gross Commission Charged: ITAT Vishakhapatnam

November 27, 2024 363 Views 0 comment Print

Tribunal in the case of Yegneswari General Traders vs. ITO has held that based on CBDT circular no. 452 it is clear that Kaccha Arahtias turnover includes only the gross commission and not the sales effected on behalf of their principals.

PAN 2.0 Project: CCEA Approval for Unified PAN/TAN Services

November 27, 2024 1443 Views 0 comment Print

The PAN 2.0 Project simplifies PAN/TAN management with a unified platform, paperless processes, and faster services. Approved by CCEA on Nov 25, 2024.

Importance of Disclosing Foreign Income & Assets in ITR

November 27, 2024 3201 Views 0 comment Print

Accurate disclosure of foreign assets and income in ITR is essential to avoid penalties. Revised returns can be filed by December 31, 2024, for A.Y. 2024-25.

How to Fix ‘Upload a Standard Document’ Error in PAN/TAN Applications?

November 27, 2024 5232 Views 0 comment Print

Struggling with the Upload a Standard Document error in PAN/TAN applications? Learn the file format, size, and DPI requirements to resolve common issues quickly.

Extension of date of Filing of Accounts to Maharashtra Charity Commissioner

November 26, 2024 96804 Views 4 comments Print

26.11.2024 Due date for online Filing of Audited Accounts with the Office of the Charity Commissioner, Maharashtra stands extended till 31st December 2024. Please click here to download the Circular No. 614/2024 dated 26.11.2024 (in Marathi) on Extension of date of Filing of Accounts to Charity Commissioner in Maharashtra. **** 26.09.2024 Due date for online […]

Tax Rate on Long Term Capital Gains on Listed Securities Increased To 12.5%

November 26, 2024 2997 Views 0 comment Print

Summary: As per the Finance Act 2024, the long-term capital gains (LTCG) tax on listed securities has been raised from 10% to 12.5% for transactions carried out from the assessment year 2024-25. This change applies to securities like listed shares and equity-oriented mutual funds. For the assessment year 2024-25, the exemption limit for LTCG on […]

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