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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 1116 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 753 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 6879 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 3510 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 4800 Views 0 comment Print


Latest News


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 18, 2024 3909 Views 3 comments 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 4365 Views 1 comment Print

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 219 Views 0 comment 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 6216 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 2532 Views 0 comment Print


Latest Judiciary


TDS not deductible on Payments which become Taxable Due to Retrospective Amendment

Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...

July 18, 2024 21 Views 0 comment Print

No penalty for cash loan from Directors for Business Exigency: ITAT Chennai

Income Tax : Read the detailed analysis of ITAT Chennai's decision on penalties under sections 269SS and 269T for Pearl Beach Promoters P. Ltd....

July 18, 2024 33 Views 0 comment Print

ITAT Upholds Section 56(2) Addition for Property Purchase Without Consideration

Income Tax : Read the detailed analysis of Indira Ramaiah Vs ITO case by ITAT Bangalore. ITAT upheld the addition of gift for undisclosed inves...

July 18, 2024 42 Views 0 comment Print

Section 56(2)(viib) Not Apply to Shares Allotted at Premium to Holding Company

Income Tax : Read the full text of the ITAT Delhi order on Sec 56(2)(viib) and its implications for premium amounts on shares issued to holding...

July 18, 2024 27 Views 0 comment Print

Assessment Order Passed after allowing only 2 Days to respond to SCN not Sustainable

Income Tax : In this case, Gudiyatham Muniraj Ashokkumaran challenged an assessment order, citing breach of natural justice principles due to i...

July 18, 2024 36 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 114 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 309 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 201 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 12387 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 906 Views 0 comment Print


Kerala HC Directs NFAC to Decide Stay/condonation Application Within 2 Months

June 9, 2024 513 Views 0 comment Print

Centre for Management Development vs. Commissioner of Income-Tax (Exemptions): Kerala High Court orders NFAC to decide stay application within two months in delay in Income Tax Assessment Order.

Section 80M deduction allowed for dividend ‘distributed’ on or before due date

June 9, 2024 537 Views 0 comment Print

In Purnasons Pvt. Ltd vs. ITO, ITAT Kolkata rules on the allowance of deductions under Section 80M of the Income Tax Act when dividends are distributed within the due date.

Section 14A disallowance applies only to investments yielding exempt income

June 9, 2024 573 Views 0 comment Print

ITAT Mumbai rules no disallowance under Section 14A for investments not yielding tax-free income. Detailed analysis of DCIT vs Paranjapee Schemes case.

Taxability of secondment receipts: ITAT deletes Section 271(1)(c) & 270A Penalty

June 9, 2024 1116 Views 0 comment Print

Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed non-taxable as fees for technical services.

Subsidiary would only be deemed a PE if it satisfies specific tests outlined in DTAA

June 9, 2024 612 Views 0 comment Print

Delhi High Court quashes reassessment notices by DCIT after TPO settles arm’s length remuneration issue. Detailed analysis of Progress Rail Locomotive Inc. vs DCIT case.

ITAT deletes Section 69A Addition in the hand of intermediary in fund transfer

June 9, 2024 912 Views 0 comment Print

ITAT Ahmedabad deletes ₹4.45 crore addition under Section 69. Money from JDS Industries not deemed as Global Ship Trade P. Ltd’s income. Detailed case analysis.

Jurisdictional error in Section 143(2) notice cannot be cured under section 292BB 

June 9, 2024 2355 Views 0 comment Print

Read the full text of the ITAT Delhi’s order on the invalid notice issued before filing ITR, leading to the quashing of the assessment order in the case of Mideast Integrated Steels Ltd Vs ACIT.

CIT(A) Obliged to Address Merits Despite Ex-Parte Order: ITAT Pune

June 9, 2024 471 Views 0 comment Print

ITAT Pune rules that CIT(A) must address merits in appeals, not dismiss for non-prosecution. Key case: York Transport Equipment (India) Private Limited Vs ITO.

Section 292BB cannot cure defect in notice to deceased assessee  

June 9, 2024 480 Views 0 comment Print

Read the detailed analysis of Late Lodaya Navalbai Vs ITO case by ITAT Bangalore. Learn why the reassessment proceedings were quashed and its implications.

Voluntary Compensation in lieu of ESOP Not Part of Salary: Delhi HC in Flipkart-Phonepe Case

June 9, 2024 17271 Views 3 comments Print

In the case of Sanjay Baweja Vs DCIT, the Delhi High Court ruled that one-time payments in lieu of ESOPs do not constitute salary under Section 17 of the Income Tax Act.

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