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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 1200 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 771 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 6939 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 3600 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 4821 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 3924 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 4458 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 240 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 6255 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 2544 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 45 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 84 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 99 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 51 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 60 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 117 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 12393 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


Assessment orders against non-existent Companies/entities are invalid

June 4, 2024 531 Views 0 comment Print

Tribunal upheld the appellate order and dismissed the appeals filed by the Assessing Officer, as the assessment orders against the non-existent company were not sustainable.

CSR Expenditure’s Mandatory Nature Doesn’t Justify Section 80G Disallowance

June 4, 2024 3324 Views 0 comment Print

Explore crucial rulings in case of Interglobe Technology Quotient Pvt Ltd vs ACIT (ITAT Delhi) regarding CSR expenditure disallowance and TDS credit allowance, along with detailed analysis.

No addition for cash deposit & Balance when Accounted in books & duly explained

June 4, 2024 1104 Views 0 comment Print

ITAT Chennai rules that recoveries of farmers’ advances reflected in cash books are not unexplained cash credits under Section 68 of the Income Tax Act.

TDS on Foreign Payments & Liquidated Damages as Capital Receipts

June 4, 2024 756 Views 0 comment Print

ITAT Kolkata ruled that TDS under section 195 is not required for foreign commission payments and liquidated damages are capital receipts, not taxable income.

CRM Services Receipts Not Taxable as Royalty or FTS: ITAT Delhi

June 4, 2024 237 Views 0 comment Print

In the case of Salesforce.com Singapore Pte Ltd. vs ACIT, ITAT Delhi ruled that receipts from CRM services aren’t taxable in India as royalty or FTS under the Income-tax Act or India-Singapore DTAA.

Deduction under Section 80 from ITR filing perspective

June 3, 2024 897 Views 0 comment Print

Learn about key deductions under Section 80 for Income Tax Returns (ITR) filing. Explore benefits, limits, and eligibility criteria for deductions like 80C, 80D, 80E, and more.

Interpreting ‘Arising from Business or Profession’ for Section 194R of Income Tax Act

June 3, 2024 732 Views 0 comment Print

Understand the interpretation of ‘arising from business or the exercise of a profession’ for Section 194-R of the Income Tax Act. Ensure TDS applicability on benefits.

Check your Form 26AS Now Before Filing Your ITR

June 3, 2024 1944 Views 0 comment Print

Verify your Form 26AS before filing your ITR for FY 23-24. Ensure accurate TDS and avoid discrepancies for a smooth tax return process.

Comprehensive Guide: Validating Bank Accounts for Income Tax Refunds

June 3, 2024 3252 Views 0 comment Print

Learn how to validate bank accounts for income tax refunds for AY 2024-25. Ensure a smooth refund process by following these essential steps.

Types of Income Tax Returns for Salaried Employees: A Comprehensive Guide

June 2, 2024 17553 Views 2 comments Print

Learn about different types of income tax returns (ITR) for salaried employees: ITR 1, ITR 2, ITR 3, and ITR 4. Understand which form suits your income structure best.

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