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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 981 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 711 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 6702 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 3312 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 4728 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 189 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 4062 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 3834 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 6078 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 2502 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 24 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 33 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 27 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 36 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 54 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 87 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 300 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 195 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 12366 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 897 Views 0 comment Print


Filing Form 67 for Foreign Tax Credit is Directory, Not Mandatory: ITAT Indore

July 15, 2024 432 Views 0 comment Print

ITAT Indore rules in Asha Rani Pandya Vs DCIT/ACIT that filing Form 67 for claiming Foreign Tax Credit (FTC) is a directory requirement, not mandatory.

Insight Portal Data Valid for Reopening Tax Assessments: Rajasthan HC

July 15, 2024 348 Views 0 comment Print

Rajasthan HC rules that using the Insight Portal for reopening income tax assessments under Section 148 is valid. Learn about Chaturbhuj Gattani vs. ITO case details.

Subsidiary Cannot claim Expenses Related to Holding Company’s Project

July 15, 2024 141 Views 0 comment Print

Explore the case of Pipelic Energy Software India Pvt Ltd Vs DCIT at Telangana High Court. Detailed analysis on why subsidiary expenses related to the parent company project were denied as deductions.

Cancellation of registration post-donation not invalidate Section 35(1)(ii) deduction

July 15, 2024 150 Views 0 comment Print

Chemstar International Vs DCIT (ITAT Mumbai) mere suspicion or cancellation of registration post-donation not invalidate initial eligibility for Section 35(1)(ii)deduction.

Who Should File ITR even when Income is Below Tax Exemption Limit?

July 15, 2024 1653 Views 0 comment Print

Discover who must file an ITR even with income below the exemption limit. Understand key scenarios and benefits to stay compliant and avoid penalties.

Anticipating India’s Budget 2024: Expectations and Projections

July 15, 2024 1056 Views 0 comment Print

Explore India’s Budget 2024 expectations and projections, including potential tax relief, increased healthcare and education spending, and measures to boost economic growth.

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

July 15, 2024 87 Views 0 comment Print

Explore the latest Income Tax notification (Notification No. 53/2024) by the Ministry of Finance. Detailed analysis of specified incomes for Uttaranchal Board.

CIT(E) Rejects S.12AB Application without Sufficient Opportunity: ITAT Orders Re-adjudication

July 15, 2024 168 Views 0 comment Print

Read the detailed ITAT Raipur order on rejection of S.12AB application under Income Tax Act, directing re-adjudication by CIT(E). Full analysis provided.

Professional Income Not become Unexplained merely for Deposit in SBNs

July 15, 2024 300 Views 0 comment Print

ITAT Jaipur rules in Shobha Tomar Vs DCIT that cash deposits from professional income during demonetization cannot be deemed unexplained. Detailed analysis inside.

Rejection of adjournment request without proper consideration: HC quashes order

July 14, 2024 420 Views 0 comment Print

Karnataka HC quashes Income Tax order against Toyota Industries Engine India Pvt Ltd due to First Appellate Authority ignoring adjournment application.

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