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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


Recalling the Clubbing Provisions in Income Tax

Income Tax : Learn about the clubbing provisions under the Income Tax Act, covering income transfers, revocable transfers, and taxation of inco...

August 26, 2024 171 Views 0 comment Print

Summary of Section 269SS, 269ST and 269T & reporting in Tax Audit Form 3CD

Income Tax : Understand the provisions of Sections 269SS, 269ST, and 269T under Indian tax law, their implications, and reporting requirements ...

August 26, 2024 189 Views 0 comment Print

Taxability of Sovereign Gold Bonds w.e.f. FY 2024-25

Income Tax : Learn about Sovereign Gold Bonds (SGBs), including eligibility, investment limits, interest rates, redemption, and tax implication...

August 26, 2024 543 Views 0 comment Print

FAQs on Income from house property

Income Tax : Rental income from sub-letting is taxed as "Income from other sources," not "Income from house property." Deemed ownership rules a...

August 26, 2024 538990 Views 67 comments Print

Presumptive Taxation Scheme: Meaning, Eligibility & Implications – Explained

Income Tax : Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance ...

August 26, 2024 147222 Views 18 comments Print


Latest News


Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 23, 2024 1065 Views 0 comment Print

Live Course: Handling Faceless Income Tax Assessment with AI Tools like ChatGPT

Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...

August 23, 2024 1635 Views 0 comment Print

CBDT Central Action Plan 2024-2025

Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...

August 22, 2024 1263 Views 0 comment Print

Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights – Starting Today

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 19, 2024 3318 Views 0 comment Print

Direct Tax Collections FY 2024-25 Reach Rs. 6.93 Lakh Crores as on 11.08.2024

Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...

August 13, 2024 303 Views 0 comment Print


Latest Judiciary


ITAT Mumbai Deletes Section 11(1A) Disallowance on Sale Consideration Investment

Income Tax : ITAT Mumbai deletes disallowance of capital gains by DCIT after confirming investment in property with Charity Commissioner approv...

August 26, 2024 60 Views 0 comment Print

Addition u/s. 69A and 68 without finding any fault with evidence is unlawful: ITAT Mumbai

Income Tax : ITAT Mumbai held that confirmation of addition u/s. 69A and 68 of the Income Tax Act without finding any fault with the evidence s...

August 26, 2024 42 Views 0 comment Print

Compensation paid to ESOP holders qualifies as perquisite hence taxable as salary income: Madras HC

Income Tax : Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary�...

August 26, 2024 45 Views 0 comment Print

Section 263 Invocation Unjustified if No Evidence of Erroneous Order

Income Tax : ITAT Ahmedabad held that invocation of section 263 by PCIT unjustified due lack of sufficient evidence to support claim that the o...

August 26, 2024 63 Views 0 comment Print

Deduction u/s. 54 admissible even when return is filed belatedly: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when ret...

August 26, 2024 153 Views 0 comment Print


Latest Notifications


Income Tax: New Guidelines for Filing application under section 10(46A)

Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...

August 20, 2024 3603 Views 0 comment Print

President Assents Finance (No 2) Bill, 2024 i.e. Finance (No. 2) Act, 2024

Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...

August 18, 2024 2181 Views 0 comment Print

Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 3975 Views 0 comment Print

Guidelines for Handling High-Risk PAN Cases in Insight Portal

Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...

August 12, 2024 13323 Views 0 comment Print

Income Tax Exemption for UIDAI’s Specified Income 2024-2029

Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...

August 12, 2024 333 Views 0 comment Print


HC directs Commissioner to issue GST notice on representative of Deceased Assessee

December 8, 2023 834 Views 0 comment Print

Explore the Allahabad High Court judgment on Lalitha Subramanian’s tax dispute. Analysis of the notice served and the court’s decision. Get insights into the case outcome.

Delhi HC Directs Income Tax Dept to Provide Documents in Priyanka Saraswat Dev’s Case

December 8, 2023 831 Views 0 comment Print

Read the Delhi High Court’s order directing the Income Tax Department to grant Priyanka Saraswat Dev access to documents for her case. The court emphasizes the importance of providing adequate opportunity for addressing the income tax demand.

Corpus specific voluntary contributions are outside the scope of taxation

December 8, 2023 2130 Views 0 comment Print

Read ITAT Delhi order in ACIT vs Financial Inclusion Trust, highlighting the exemption of corpus-specific voluntary contributions from taxation. Learn about the legal implications and precedents cited in this case.

Supreme Court clarifies Section 80HHC deduction for Export-Oriented Units

December 8, 2023 1839 Views 0 comment Print

Supreme Court clarifies Section 80HHC deduction for Export-Oriented Units, emphasizing that profits eligible for deduction must be directly derived from the export of goods. Gain from foreign exchange fluctuations, in this case, ruled as not qualifying for deduction. Stay informed on crucial tax rulings.

A Study of Residential Status of an Individual and Hindu Undivided Family in Accordance To Income Tax Act

December 8, 2023 9819 Views 0 comment Print

Explore the intricacies of residential status under the Income Tax Act in India. Learn about individual and HUF classifications, conditions, and recent amendments.

Sections 115BBE not applicable to Income not falling under section 69A  

December 8, 2023 6867 Views 0 comment Print

Explore the ITAT Delhi ruling in DCIT vs. Tapesh Tyagi case, clarifying that Section 115BBE doesn’t apply to surrendered income treated under Section 69A.

Books of Account cannot be rejected for mere Inadvertent Error in TAR

December 8, 2023 876 Views 0 comment Print

ITAT Mumbai order on ITO vs. Sambhav Shelter, where books of account withstand scrutiny despite an inadvertent mistake in the tax audit report. Full analysis and conclusions revealed.

फॉर्म 15CA: Detailed understanding

December 7, 2023 1284 Views 0 comment Print

Income Tax Act के अनुसार, ऐसे taxpayers को Form 15CA और Form 15CB file करना होगा। इनमें पेमेंट का नेचर, तेदस डिडक्शन, और DTAA के विशेषताएं शामिल है। फॉर्म 15CA का Detailed Understanding कैसे क्या है?

Service Tax Obligation for Map Making Sub-Contract Work: October 2007 to March 2008

December 7, 2023 588 Views 0 comment Print

Explore CESTAT Kolkata ruling on Service Tax for map-making sub-contract work by C. E. Testing Company Pvt. Ltd. Learn about detailed analysis and conclusions of case.

Entire reassessment proceeding illegal without issuance of notice u/s. 143(2)

December 7, 2023 1011 Views 0 comment Print

ITAT Hyderabad held that entire re-assessment proceeding is illegal and deserves to be quashed in absence of mandatory issue of notice under section 143(2) of the Income Tax Act.

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