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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 194H Applicability on Commission of E-Commerce Operators

Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...

February 11, 2025 60 Views 0 comment Print

Budget 2025 Amendments to Section 72A: Impact on Tax Loss Carry-Forward

Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...

February 11, 2025 66 Views 0 comment Print

Nil Tax Up To Rs. 12 Lakhs Income (FY 2025-26); Tax Computation With Illustrations & FAQs

Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...

February 11, 2025 2976 Views 0 comment Print

Enhanced Limits for Partners Remuneration: Section 40(b) & 194T

Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...

February 11, 2025 1815 Views 0 comment Print

2 Residential Houses: Income Tax issue simplified in budget 2025-26?

Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...

February 10, 2025 1512 Views 0 comment Print


Latest News


Reminder for Filing TDS Statement 26Q for Q2 FY 2024-25

Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...

February 8, 2025 10383 Views 2 comments Print

Union Cabinet Approves New Income Tax Bill 2025 to Replace 1961 Act

Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...

February 8, 2025 12876 Views 1 comment Print

CBI Files Case Against 3 Tax Officials, 5 CAs for Sabotaging Faceless Tax Scheme

Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...

February 7, 2025 12270 Views 0 comment Print

India’s Tax Arrears Reach ₹42.64 Lakh Crore

Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...

February 6, 2025 42 Views 0 comment Print

Decriminalization of Minor Direct Tax Offenses in India

Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...

February 6, 2025 66 Views 0 comment Print


Latest Judiciary


No Foreign Tax Credit Denial for Filing Belated Form 67: ITAT Pune

Income Tax : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...

February 11, 2025 36 Views 0 comment Print

Non-Consideration of Grounds & Inadequate Hearing: ITAT Remands Case to CIT(A)

Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...

February 11, 2025 252 Views 0 comment Print

₹2.44 Crore Cash Deposit addition: ITAT orders Fresh Adjudication

Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...

February 11, 2025 159 Views 0 comment Print

ITAT Upholds CIT’s Section 263 Invocation on Genuineness of Receipts & Expenditures

Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...

February 11, 2025 87 Views 0 comment Print

Section 68 Limited to Current Year Cash Credits: ₹2 Cr Addition Deleted

Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...

February 11, 2025 174 Views 0 comment Print


Latest Notifications


Income Tax Act: Bhaikaka University Approved for Research

Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...

February 11, 2025 123 Views 0 comment Print

Income Tax Act: Section 285 Notification for Liaison Office Statement Filing

Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...

February 10, 2025 246 Views 0 comment Print

Income-Tax Rule 2F Amended for Infrastructure Debt Funds

Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...

February 7, 2025 249 Views 0 comment Print

CBDT Shares Taxpayer Data for PMGKAY Eligibility

Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...

February 4, 2025 2577 Views 0 comment Print

Finance Bill, 2025 – Budget 2025 (Read Full)

Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...

February 1, 2025 5307 Views 0 comment Print


HC allows Additional Depreciation on Oil Well by treating as ‘Plant & Machinery

July 8, 2024 513 Views 0 comment Print

Gujarat High Court dismisses Revenue’s appeal in CIT Vs Joshi Technologies, allowing additional depreciation on oil wells u/s 32(1)(iia) of Income Tax Act.

SCN Allowed One Day to Reply: Madras HC quashes Income Tax Assessment Order

July 8, 2024 489 Views 0 comment Print

Read the detailed analysis of Coonoor Sri Thanthi Mariamman Kerala Seva Sangam vs Assessment Unit judgment by Madras High Court. Learn why the court overturned the assessment order due to a breach of natural justice.

Madras HC Grants 45 Days for obtaining Bank Documents in Tax Case

July 8, 2024 291 Views 0 comment Print

Read Madras High Court’s judgment granting 45 days to obtain bank statements for tax case under Black Money & Income Tax Act.

ITAT allows foreign travel expenses for board meetings in Singapore

July 8, 2024 342 Views 0 comment Print

ITAT Cuttack rules replacement of gear boxes in Surface Furnace Kiln as current repairs under Section 31(1) for Sponge Tata Iron Ltd. Read the full judgment analysis.

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

July 8, 2024 1860 Views 0 comment Print

Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents needed, and more. Expert guide!

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

July 8, 2024 2028 Views 0 comment Print

Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online with these FAQs.

Common ITR Issues and FAQ’s For Filing Return for AY 2024-25

July 8, 2024 12225 Views 2 comments Print

Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regime options with our comprehensive guide.

Accounting Treatment of selling & professional costs in Non-commenced Projects

July 8, 2024 597 Views 0 comment Print

Explore the ITAT Chennai order on expenditure allowances for Casa Grande Homes Pvt Ltd, whether or not income was earned, with detailed analysis and conclusions.

How to calculate Turnover of Futures & Options for Taxation

July 8, 2024 10497 Views 0 comment Print

How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing requirements under ITR 3.

AO exceeded jurisdiction in verifying demonetisation cash deposit below ₹2.5 lakhs

July 6, 2024 567 Views 0 comment Print

Explore the detailed analysis of the ITAT Bangalore decision in Goworamma Lingappa Manjula Vs ITO. Understand the implications and legal perspectives. Read more.

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