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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 189 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 1506 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 2151 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 624 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 1335 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 1419 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 12648 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 762 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 153 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 147 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 93 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 3444 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 381 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 561 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


TPO fails to Apply Industry Filter while Determining ALP of Interest: ITAT Deletes addition

May 31, 2024 219 Views 0 comment Print

ITAT Delhi dismisses DCIT’s appeal against DLF Urban Pvt. Ltd. TPO failed to apply industry filter for ALP of interest, resulting in the deletion of Rs. 6.29 crores addition.

ITAT Quashes Assessment as AO Failed to Issue Section 148 Notice to All Legal Heirs After Individual’s Death

May 31, 2024 993 Views 0 comment Print

Maddikunta Sanjeeva Reddy Vs ITO (ITAT Hyderabad): Analysis of ITAT’s decision to delete additions made by AO due to incomplete notice under section 148.

Identity, Creditworthiness & Transaction Genuineness Proven: Section 68 Addition deleted

May 31, 2024 579 Views 0 comment Print

ITAT Kolkata deletes Rs. 40 Lakh addition against City Shoppe Estates, affirming identity, creditworthiness of share subscribers, and transaction genuineness.

Non-finalized Documents found on third-party premises without independent corroboration cannot justify additions

May 31, 2024 324 Views 0 comment Print

ITAT Ahmedabad rules no addition based on third-party documents in Smt. Lilaben Rameshbhai Savaliya Vs. DCIT. Detailed analysis of the case and implications.

ITAT upholds addition for allegedly Gift from father-in-law

May 31, 2024 8718 Views 0 comment Print

ITAT upholds addition of alleged gift from father-in-law as unexplained cash credit. Sujeet Kumar vs ITO case. Read the full text of the order.

Assessee Can Avail DTVSV Act Benefits Even if Appeal Limitation Period Not Expired

May 31, 2024 204 Views 0 comment Print

Assessee can’t be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 (DTVSV Act) even where the time limit for an appeal had not expired as DTVSV Act aspired to finally free the tax arrears locked in the litigation combat for ages and ultimately ensures timely collection of tax.

TDS Returns: Solution to FVU Errors T_FV_6351 and T_FV_6354

May 30, 2024 39972 Views 8 comments Print

Encountering FVU errors (T_FV_6351 and T_FV_6354) while filing Form 24Q for Q4 of FY 23-24? Learn the reasons and resolutions to ensure error-free TDS returns.

Section 194IA: TDS on Immovable Property Transfer (Other than Agricultural Land)

May 30, 2024 3825 Views 8 comments Print

Learn about Section 194 IA for TDS on property transfers: applicability, rates, responsibilities, exemptions, and penalties.

57 Incomes and Expenses which will be included in Annual Information Statement

May 30, 2024 13581 Views 0 comment Print

CBDT has notified 57 types of incomes and expenses included in the Annual Information Statement (AIS) on the Income Tax portal, aiding accurate tax filing and compliance.

After TPO’s Order, AO Obligated to Follow Section 92CA(4) for Assessment

May 30, 2024 456 Views 0 comment Print

The Delhi High Court ruled that once a TPO issues an order, the AO must pass an assessment order per Section 92CA(4) of the Income Tax Act.

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