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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


What is Perquisites and profits in lieu of salary?

Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...

February 12, 2025 69 Views 0 comment Print

Union Budget 2025-26: Economic Growth & Direct Tax Reforms

Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...

February 12, 2025 165 Views 0 comment Print

New Income Tax Bill 2025: Streamlining India’s Tax System for Modern Times

Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...

February 12, 2025 4683 Views 0 comment Print

Flat Taxes in India: Oversimplification or need of the hour?

Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...

February 12, 2025 360 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 12018 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 10548 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 13773 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 12639 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


AO must complete procedure for issuance of notice u/s. 148 within period prescribed u/s. 149

Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...

February 12, 2025 21 Views 0 comment Print

No Addition Based on mere Loose Papers, WhatsApp Chats: ITAT Pune

Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...

February 12, 2025 2187 Views 0 comment Print

Addition towards unaccounted gold and silver jewellery set aside based on CBDT instruction dated 11.05.1994

Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...

February 12, 2025 15 Views 0 comment Print

Recovery of Income Tax Arrears from Auctioned Property Untenable: Kerala HC

Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...

February 12, 2025 63 Views 0 comment Print

License Fees for Goodwill acquisition Allowed as Expense U/S 37: Delhi HC

Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...

February 12, 2025 51 Views 0 comment Print


Latest Notifications


Govt released Income-Tax Bill, 2025 (Download)

Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...

February 12, 2025 49641 Views 0 comment Print

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 171 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 294 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 303 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 2586 Views 0 comment Print


लघु एवं मध्यम व्यापार आपका व्यापार – कैसे करें अपनी तैयारी आप स्वयं

April 2, 2024 1638 Views 0 comment Print

जानें कि अपने व्यावसायिक खातों को प्रभावी ढंग से कैसे प्रबंधित करें, लेखांकन सॉफ़्टवेयर को नेविगेट करें और वित्तीय स्थिरता सुनिश्चित करें। यहां विशेषज्ञ अंतर्दृष्टि और रणनीतियाँ प्राप्त करें।

Understanding Section 43B(h) | Impact on MSME Payments

April 2, 2024 12243 Views 3 comments Print

Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payments to avoid penalties and interest.

Tax Regimes: Old vs. New Regimes in FY 2023-24

April 2, 2024 7026 Views 0 comment Print

Delve into the comparison between the old and new tax systems for FY 2023-24 in India. Explore advantages, factors to consider, and make an informed decision.

Structuring Cross-Border Mergers and Acquisitions

April 1, 2024 948 Views 0 comment Print

Discover the intricacies of structuring cross-border mergers and acquisitions (M&A). Learn about key steps, due diligence, legal compliance, and tax considerations for successful transactions.

Step By Step Guide to Prepare List of Creditors Under Section 43B(h)

April 1, 2024 2880 Views 0 comment Print

Learn how CFOs, auditors, and filers can comply with Section 43B(h) effortlessly. Identify creditors, prepare lists, categorize, and manage agreements effectively.

Navigating the Crypto Tax: Through the lens of Regulatory framework

April 1, 2024 396 Views 0 comment Print

Explore the impact of taxation on India’s burgeoning online gaming sector, navigating legislative complexities and proposed Finance Bill, 2023 amendments.

Failure to consider Reply in GST Order: HC dismisses Writ as alternate remedy available

March 31, 2024 2469 Views 0 comment Print

Kerala High Court dismisses writ petition by Manjally Jewellery against failure to consider reply in assessment order under GST Act. Detailed analysis & judgment summary.

Time limit for verification of return of income after uploading

March 31, 2024 10794 Views 0 comment Print

Understand the time limit for income tax return verification after uploading. Learn the implications of late verification and the prescribed ITR-V submission process.

Clarification regarding applicability of new tax regime and old tax regime

March 31, 2024 12789 Views 0 comment Print

Get clarity on the applicability of the new tax regime versus the old tax regime. Understand the differences and choose the regime that suits you best for FY 2023-24.

Kerala HC dismisses writ petition citing availability of an alternative remedy

March 31, 2024 495 Views 0 comment Print

Kerala High Court dismisses writ petition citing availability of an alternative remedy before ITAT. Details of the case and judgment here.

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