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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


New Income Tax Regime- Key Peculiarities!

Income Tax : Section 115BAC (New Tax Regime) of Income Tax Act, 1961 was introduced in Budget 2020 for Individuals and HUF Taxpayers, effective...

July 14, 2024 1098 Views 0 comment Print

Taxation in Digital Economy: Income Tax provisions in India vis-à-vis Permanent Establishment

Income Tax : Explore India's income tax provisions for the digital economy, focusing on the concept of Permanent Establishment and recent legal...

July 13, 2024 402 Views 0 comment Print

Share Split and Amalgamation: Analysis from a Capital Gains Perspective

Income Tax : Analyze the tax implications of share splits and amalgamations in India. Understand capital gains treatment, period of holding, an...

July 12, 2024 1458 Views 0 comment Print

Important due Dates – TDS / TCS compliance

Income Tax : Understand TDS and TCS compliance deadlines. Learn about deposit dates, return filing schedules, and issuance of certificates to a...

July 12, 2024 7719 Views 1 comment Print

Suggestions for Hassle-Free ITR filing

Income Tax : Discover hassle-free tips for filing your Income Tax Return (ITR) before the July 31, 2024 deadline. Learn about necessary documen...

July 12, 2024 861 Views 0 comment Print


Latest News


ICAI Letter to CBDT on Technical Glitches in Income Tax Filing Portal

Income Tax : Read ICAI's concerns about technical glitches in tax filing and payment systems. Understand the impact on taxpayers and solutions ...

July 13, 2024 1035 Views 0 comment Print

ICAI raises Concerns in relation to Form 26AS/TIS/AIS and in e-filing ITR Forms

Income Tax : ICAI addresses issues with Form 26AS/TIS/AIS and ITR filing glitches, urging CBDT for timely resolution to aid taxpayers in meetin...

July 13, 2024 10935 Views 5 comments Print

ITGOA Letter to CBDT Chairman on issuance of notices u/s 143(2)

Income Tax : Read how Income Tax Gazetted Officers’ Association addresses last-minute case reallocations affecting timely issuance of notices...

July 10, 2024 6699 Views 0 comment Print

File ITR-4 (Sugam) Online for AY 2024-25 FAQs

Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...

July 8, 2024 816 Views 0 comment Print

File ITR-1 (Sahaj) Online for AY 2024-25: FAQs

Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...

July 8, 2024 1203 Views 0 comment Print


Latest Judiciary


Rejection of adjournment request without proper consideration: HC quashes order

Income Tax : Karnataka HC quashes Income Tax order against Toyota Industries Engine India Pvt Ltd due to First Appellate Authority ignoring adj...

July 14, 2024 63 Views 0 comment Print

ITAT upholds enhancement by CIT(A) as addition were based on facts & not mere suspicion

Income Tax : ITAT noted that CIT(A)'s decision was reasoned, considering discrepancies in repayment timelines and absence of proper documentati...

July 14, 2024 78 Views 0 comment Print

Gujarat HC on allowability of expenses incurred for clearing mortgage debts

Income Tax : Gujarat High Court allows income tax deduction for payment clearing mortgage, dismissing Revenue’s appeal under section 263. Ful...

July 14, 2024 105 Views 0 comment Print

Net profit rate of 8% on contract receipts was appropriate: Calcutta HC

Income Tax : Calcutta High Court validates the application of an 8% net profit rate on gross receipts under contracts unless illegality is prov...

July 14, 2024 135 Views 0 comment Print

Cash Deposits During Demonetization Don’t Automatically Taint Assessee

Income Tax : Merely because certain cash was deposited in the specified bank notes by the assessee during the demonetization period will not ma...

July 14, 2024 159 Views 0 comment Print


Latest Notifications


Section 138(1)(a) of Income-tax Act: Information Sharing with Telangana Government

Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...

July 9, 2024 276 Views 0 comment Print

Section 138 Notification: Agriculture Production Commissioner, Telangana specified

Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...

July 9, 2024 162 Views 0 comment Print

Guidelines for issuance of notice u/s 148 of the Income Tax Act, 1961

Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...

June 28, 2024 12015 Views 0 comment Print

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 27, 2024 855 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 24, 2024 1335 Views 0 comment Print


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

June 12, 2024 840 Views 0 comment Print

Explore suggestions from trade associations for Budget 2024-25 on changes in direct and indirect taxes. Submit proposals for tax structure, rates, and compliance improvements.

Income Tax Deduction Under Section 80C

June 12, 2024 4917 Views 0 comment Print

Discover everything about Income Tax Deduction under Section 80C – eligibility, qualifying investments, maximum deduction, and more. Get insights for smarter tax planning.

Provision of Section 194A TDS on Interest Other Than ‘Interest On Securities’

June 12, 2024 1299 Views 1 comment Print

Explore the intricacies of Tax Deducted at Source (TDS) under Section 194A for interest payments other than securities. Learn about rates, exemptions, responsibilities, and procedures.

Guarantee Commission Charges taxable in India as “other income” under Article 23(3) of Indo-UK DTAA

June 12, 2024 393 Views 0 comment Print

Guarantee commission charges received by a foreign parent company from its Indian subsidiaries were taxable in India, not as interest but as “other income” under Article 23(3) of the DTAA.

No Assessment Order could be Passed in name of Non-Existent Entity after an intimation was given to AO

June 12, 2024 1536 Views 0 comment Print

ITAT Mumbai invalidates income tax assessment for a merged entity, emphasizing the legal principle against actions on non-existent entities.

Important points to keep in mind before filling ITR -AY 2024-25

June 12, 2024 5136 Views 0 comment Print

Hello readers, After a long time, today I will discuss important points to keep in mind before filling out ITR: 1. Firstly, don’t rush to file ITR as the AIS (Annual Information Statement) is not yet fully updated on the Income Tax Portal. Wait until 15th June, as there might be information updated later on. […]

Tax Avoidance and Invocation of GAAR: Case of Ayodhya Rami Reddy Alla

June 11, 2024 2088 Views 1 comment Print

Explore the Ayodhya Rami Reddy Alla vs PCIT case, delving into GAAR vs SAAR implications. Understand the Telangana High Court’s ruling on tax avoidance and the invocation of GAAR.

Taxation on Digital and Crypto Assets: Navigating the New Landscape

June 11, 2024 612 Views 0 comment Print

Explore recent tax amendments affecting digital & crypto assets, implications for investors & businesses, and strategies for compliance & strategic planning.

Assessee cannot be Penalized for Purchasers’ Failure to Record Transaction

June 11, 2024 1116 Views 0 comment Print

Delve into the detailed analysis of the ACIT Vs Dewas Soya Limited case by ITAT Indore. Explore the crux of arguments, legal aspects, and conclusions drawn from the order.

AO Cannot Uniformly Apply 40% Expense Benchmark to Agricultural Revenue

June 11, 2024 516 Views 0 comment Print

Read the detailed analysis of Chaudhari Nanubhai Jeshingbhai (HUF) Vs DCIT case where the ITAT Ahmedabad ruled on reducing agricultural income based on expenditure claimed by the assessee.

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