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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


Tax deduction at Sources (TDS) on Commercial Business Income

Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...

July 17, 2024 1032 Views 0 comment Print

No Incriminating Evidence, No Addition: Delhi High Court’s Ruling

Income Tax : Delhi HC rules in PCIT Vs Pavitra Realcon Pvt. Ltd., ITA 579/2018, emphasizing the need for corroborative evidence in tax assessme...

July 17, 2024 720 Views 0 comment Print

Medical Professional’s Income Under Section 44ADA- Assessment Reopening!

Income Tax : Learn about the Madras High Court's landmark ruling quashing an income tax reassessment notice for a medical professional under Se...

July 16, 2024 6771 Views 2 comments Print

Analysis of Section 87A and 115BAC(1A) of Income Tax Act, 1961

Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...

July 16, 2024 3387 Views 1 comment Print

Budget 2024 – Issues in Presumptive Taxation

Income Tax : Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sectio...

July 16, 2024 4743 Views 0 comment Print


Latest News


Direct Tax Collections for F.Y. 2024-25 as on 11.07.2024

Income Tax : Direct tax collections for FY 2024-25, as of July 11, 2024, show a 23.24% increase compared to FY 2023-24, with notable growth in ...

July 17, 2024 192 Views 0 comment Print

Representation to CBDT to Fix Glitches on Income Tax Portal

Income Tax : KSCAA addresses technical issues in the Income Tax Portal, urging CBDT for prompt resolution to ensure smooth filing of returns be...

July 17, 2024 4167 Views 1 comment Print

Postmortem of Union Budget 2024: A Comprehensive Webinar

Income Tax : Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and inves...

July 16, 2024 3858 Views 3 comments Print

Representation on Income Tax Portal Issues & Section 87A Relief

Income Tax : AGFTC & ITBA urge Finance Minister to address Income Tax Portal issues, incorrect Section 87A relief interpretation, and extend IT...

July 15, 2024 6150 Views 0 comment Print

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 2517 Views 0 comment Print


Latest Judiciary


CBDT Circulars on Monetary Limits Apply to Pending Appeals: Bombay HC

Income Tax : Bombay High Court decision in CIT Vs Madhukar K. Inamdar H.U.F., addressing applicability of CBDT Circular dated 15-05-2008 on tax...

July 17, 2024 39 Views 0 comment Print

No addition for explained demonetization currency deposited in Bank

Income Tax : In the case of Mewar Hospital Pvt. Ltd. Vs ACIT (ITAT Jodhpur), Bench ruled no addition for explained demonetization currency depo...

July 17, 2024 45 Views 0 comment Print

No Addition if Accounts Supported by Affidavit Remain Uncontroverted: ITAT Jodhpur

Income Tax : Dhanpat Raj Khatri Vs ITO (ITAT Jodhpur) If the explanation based on accounts supported by affidavit is not controverted, no addit...

July 17, 2024 39 Views 0 comment Print

Section 263 revisional order without issuing SCN is void ab initio

Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...

July 17, 2024 45 Views 0 comment Print

Reopening Without New Material & on Mere Change of Opinion invalid

Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...

July 17, 2024 63 Views 0 comment Print


Latest Notifications


Section 10(46) exemption to Uttaranchal Board of Technical Education

Income Tax : Explore the latest Income Tax notification (Notification No. 53/2024) by the Ministry of Finance. Detailed analysis of specified i...

July 15, 2024 90 Views 0 comment Print

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 303 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 198 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 12375 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 903 Views 0 comment Print


Delhi HC Invalidates Reassessment Notice, Upholds Section 149(1)(b) Time Limits

June 14, 2024 1506 Views 0 comment Print

Delhi High Court rules that reassessment actions post-2021 searches must meet the First Proviso to Section 149(1) of the Income Tax Act, quashing Dinesh Jindal case notice.

Sale of penny stocks: High Court Affirms Section 263 Order

June 14, 2024 594 Views 0 comment Print

Dive into the detailed analysis of the Calcutta High Court judgment in PCIT Vs Bina Gupta, addressing substantial questions of law regarding income tax implications on Long Term Capital Gain from penny stock sales.

Printers, Routers & Peripherals eligible for depreciation at Computer Rates

June 14, 2024 603 Views 0 comment Print

Read about the ITAT Delhis ruling on the deduction dispute between Genpact India and DCIT regarding freight, telecommunication charges, and migration expenses under Section 10A/10AA of the Income Tax Act.

Are online subscription sales business or royalty income? ITAT directs re-adjudication

June 14, 2024 384 Views 0 comment Print

Explore Gartner Ireland Ltd.’s appeal: Are online subscription sales business or royalty income? ITAT directs fresh assessment in Mumbai case

No Section 54F Exemption for Shed on Agricultural Land, Not Considered Residential House

June 13, 2024 4560 Views 0 comment Print

Detailed analysis of the ACIT vs Himanshu Garg case at ITAT Delhi regarding capital gains, section 54F exemption, and land sale considerations.

ITAT quashes Ex-parte order against Illiterate & agriculturist assessee: Directs re-adjudication

June 13, 2024 462 Views 0 comment Print

Ex-parte order quashed & restored back to AO. Illiterate and agriculturist assessee’s appeal considered. Detailed analysis of the case.

Section 153C Assessments Beyond 10 Years Block Period Invalid: Delhi HC

June 13, 2024 357 Views 0 comment Print

Delhi High Court rules Section 153C assessments beyond the 10-year limit unsustainable, quashing notices for AY 2013-14. Key judgment impacts reassessment proceedings.

No section 271B penalty if reasonable cause exist or if assessee establishes its bonafides

June 13, 2024 993 Views 0 comment Print

Read the full text of the order from ITAT Agra where penalty u/s 271B was deleted for Tasavver Husain vs ITO. Detailed analysis and conclusion provided.

Non-compete fees is capital receipt till A.Y. 2002-03: ITAT Mumbai

June 13, 2024 216 Views 0 comment Print

Discover the landmark case of ACIT vs. Lyka Labs Ltd. ruling non-compete fees as ‘revenue receipt’. Detailed analysis and implications discussed.

Section 270AA Penalty Immunity Application Cannot Be Rejected on Insufficient Grounds or Vague SCNs

June 13, 2024 480 Views 0 comment Print

Delhi High Court judgment on GE Capital vs. DCIT, distinguishing under-reporting and misreporting as separate offenses, resulting in quashed penalty. Full text analysis.

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