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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


Taxation – The Game of Life – Transfer Pricing & International Taxation

June 2, 2024 852 Views 0 comment Print

Explore the complexities of international taxation and transfer pricing, crucial for multinational enterprises. Learn about associated enterprises, specified domestic transactions, and the methods for determining arm’s length prices.

Income Tax Calculator Financial Year 2024-25

June 1, 2024 22485 Views 8 comments Print

Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime suggestions for salaried employees. Plan your taxes wisely.

Transforming Tax Compliance: The Impact of Digital Transactions in India

June 1, 2024 504 Views 0 comment Print

Article explains implications of digital transactions on income tax compliance, focusing on Section 269ST, Rule 6ABBA, Section 269SU, and Rule 119AA of Income Tax Act, 1961.

When to Start Filing ITR for Salaried Individuals?

June 1, 2024 1593 Views 0 comment Print

Discover when to start filing ITR for salaried individuals for FY 2023-24. Waiting until June 15 ensures accurate data and avoids mismatch notices.

Simplifying Residential Status Concept in India

May 31, 2024 1341 Views 0 comment Print

Gain insights into India’s residential status rules under Section 6 of the Income Tax Act, simplifying complexities for individuals and entities.

Non-disclosure of Exempt LTCG Doesn’t Cause Revenue Loss: Invalidates Section 263 Proceedings

May 31, 2024 579 Views 0 comment Print

In Karan Jain vs. Union of India, Guwahati High Court rules that non-disclosure of exempt LTCG does not result in revenue loss. Detailed analysis and conclusion provided.

Condonation application cannot be rejected straightway in a cryptic, confused & absurd manner

May 31, 2024 432 Views 0 comment Print

Orissa High Court remits income tax matter back to PCIT after rejecting delay condonation applications in a cryptic manner. Detailed analysis of the case provided.

Indian Women Traditionally Keep Jewelry at Maternal Home for Various Reasons: ITAT Delhi deletes addition

May 31, 2024 603 Views 0 comment Print

ITAT held that Indian Women Traditionally Keep Jewelry at Maternal Home for Various Reasons and CBDT instruction, where the status of the family and customs and practices of the community to which family belongs, permit an assessee to hold larger quantity of jewellery and ornaments out of the purview of seizure.

ITAT Bangalore: Tax Cash Deposit from Store Business at 8%

May 31, 2024 399 Views 0 comment Print

Read the detailed analysis of Smt. Kopparum Laxminarayan Kumuda vs ITO case by ITAT Bangalore. Learn why cash deposits were taxed at 8%.

CBDT notifies Amendment to Income Tax Form 27Q

May 31, 2024 3114 Views 0 comment Print

Stay updated with Notification No. 48/2024-Income Tax Amendment Rules issued by the Ministry of Finance. Get insights into the latest amendments affecting income tax regulations.

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