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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


Overview of The Income Tax Bill 2025

Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...

February 12, 2025 129 Views 0 comment Print

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 240 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 243 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 5106 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 393 Views 0 comment Print


Latest News


Income Tax Return Filings in India: Trends and Government Measures

Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...

February 12, 2025 6 Views 0 comment Print

Impact of Supreme Court Judgement On HUF Tax Benefits

Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...

February 12, 2025 12 Views 0 comment Print

Corporate Tax Collections & Incentives for Global Firms

Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...

February 12, 2025 12 Views 0 comment Print

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 10575 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 13809 Views 1 comment Print


Latest Judiciary


Section 148 Notice Procedure Must Be Completed Within Section 149 Timeframe: Delhi HC

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 78 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 2904 Views 0 comment Print

ITAT Chennai Sets Aside addition for Unaccounted Jewellery per CBDT Instruction

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 33 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 81 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 66 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 58476 Views 3 comments 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 174 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 303 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 309 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 2589 Views 0 comment Print


Bombay HC Quashes Income Tax Reassessment Notice for AY 2013-14 as Time-barred

February 27, 2024 1509 Views 0 comment Print

Bombay High Court quashes income tax reassessment notice for Assessment Year 2013-2014 as time-barred. Detailed analysis of the case provided.

Guide to Responding to Income Tax Notices: e-Verification Scheme 2021

February 27, 2024 5940 Views 0 comment Print

Learn how to effectively respond to income tax notices and letters under the e-Verification Scheme 2021. Complete guide for taxpayers with step-by-step instructions

Unlock the door to tax savings with Section 80C!!!

February 27, 2024 1290 Views 0 comment Print

Discover the key to tax savings with Section 80C! Explore various investment options like EPF, PPF, ELSS, life insurance premiums, and more for tax benefits.

Over 360K Income Tax Appeals Pending: CIT(A) Stats Revealed in RTI Reply

February 27, 2024 4434 Views 1 comment Print

Discover the staggering figures of 361,748 pending Income Tax appeals as per RTI response. Dive into the detailed analysis of filed and disposed appeals, revealing insights into the tax landscape

Wrong SFT Reporting may invite Notice U/s 148A of Income Tax Act, 1961

February 27, 2024 3822 Views 0 comment Print

Discover the consequences of incorrect SFT reporting triggering U/s 148A notices under the Income Tax Act, 1961. Learn from a detailed case analysis and understand the implications for taxpayers.

Advisory: Mismatch of transaction amount shown in Income Tax Return

February 27, 2024 8661 Views 0 comment Print

Income Tax Department addresses concerns about mismatches in ITR and third-party data, offering a resolution guide on the Compliance Portal.

CBDT mandates electronic filing of 8 income tax forms starting April 1, 2024

February 26, 2024 24522 Views 1 comment Print

Explore the implications of Notification No. 01/2024 by the Directorate of Income Tax (Systems) mandating electronic filing of forms, returns, statements, and reports under Income-tax Rules, 1962.

CBDT approves Panjab University’s Scientific Research Deduction U/s. 35(1)(ii)

February 26, 2024 519 Views 0 comment Print

Explore the impact of Income Tax Notification No. 23/2024 dated 26th Feb 2024, granting Panjab University Scientific Research status under section 35. Learn about the retrospective effect and its applicability for Assessment Years 2024-2025 to 2028-2029.

Payments to MSMEs – decoding Section 43B(h) read with MSMED Act

February 26, 2024 12414 Views 1 comment Print

Understand Section 43B(h) of the Income Tax Act, 1961, its implications, and how it impacts payments to micro and small enterprises. Learn about compliance requirements and exemptions in this comprehensive guide.

Guide to Updated Tax Return Under Section 139(8A)

February 26, 2024 11250 Views 0 comment Print

Discover the benefits of ESI registration in Gurgaon for businesses, offering health security for employees, legal compliance, and a financial safety net.

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