Sponsored
    Follow Us:

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


Form ITR 2 applicability and Key Changes for AY 2025-26

Income Tax : CBDT releases ITR 2 (AY 2025-26) for individuals/HUFs without business income, detailing changes in capital gains taxation (pre/po...

May 20, 2025 576 Views 0 comment Print

Form 15CA and 15CB: A Guide to Foreign Remittance Compliance

Income Tax : 1. Introduction In an increasingly globalized economy, cross-border transactions have become commonplace. To ensure tax compliance...

May 20, 2025 456 Views 0 comment Print

Significant Economic Presence (SEP): Exclusion for Export-Oriented Purchases

Income Tax : India's Finance Act 2025 clarifies Significant Economic Presence (SEP) rules, excluding mere purchase of goods in India for export...

May 19, 2025 150 Views 0 comment Print

Section 194IA: TDS on sale of immovable property

Income Tax : As per section 194IA of income tax Act, if immovable property, other than agricultural land, is transferred tax (TDS) will be dedu...

May 18, 2025 1215 Views 0 comment Print

Old vs New Tax Regime Comparison FY 2025-26

Income Tax : Compare India's old and new tax regimes for FY 2025-26. Find the break-even point based on deductions to choose the best option....

May 18, 2025 3123 Views 0 comment Print


Latest News


DPIIT Approves 187 Startups for Income Tax Relief

Income Tax : DPIIT approves 187 startups for income tax exemption under Section 80-IAC. Eligibility extended for startups incorporated till Apr...

May 16, 2025 318 Views 0 comment Print

Key Points to Claim Refunds in Your Income Tax Return

Income Tax : Income Tax Department warns against wrongful refund claims in ITRs. Explains consequences like penalties, scrutiny, prosecution, a...

May 12, 2025 3897 Views 2 comments Print

CBI Searches in IRS Officer Disproportionate Assets Case

Income Tax : CBI conducts searches at 11 locations in Jaipur, Ahmedabad, Gandhinagar in a disproportionate assets case against an IRS officer a...

May 12, 2025 456 Views 0 comment Print

Request for Timely Release of ITR Forms for AY 2025-26 and Updated Returns

Income Tax : Karnataka State Chartered Accountants Association raises concern over delayed release of ITR forms for AY 2025-26, pressing CBDT f...

May 2, 2025 9108 Views 2 comments Print

CBDT notifies Revised ITR 1 & ITR 4 for AY 2025-26: Key amendments

Income Tax : CBDT revises ITR Forms 1 & 4 for AY 2025-26, expanding eligibility criteria, adding disclosure requirements and simplifying compli...

May 1, 2025 2385 Views 2 comments Print


Latest Judiciary


Section 143(2) Notice Invalid if Not Issued in Prescribed CBDT Format: ITAT Kolkata

Income Tax : Kolkata ITAT allows assessee's appeal, ruling that a tax assessment was invalid because the Section 143(2) notice did not comply w...

May 20, 2025 42 Views 0 comment Print

Full & true disclosure of all material facts: Section 148 Reopening quashed

Income Tax : Madras High Court held that reopening of assessment under section 148 of the Income Tax Act not sustainable since assessee has ful...

May 20, 2025 33 Views 0 comment Print

ITAT Condones 350-Day Delay in TCS Appeal by District Magistrate

Income Tax : The ITAT Delhi has condoned a 350-day delay by the District Magistrate, Budaun, in filing a TCS appeal, citing communication gaps ...

May 20, 2025 63 Views 0 comment Print

Section 271(1)(c) Penalty Initiation Requires Specific Satisfaction: Rajasthan HC

Income Tax : The Rajasthan High Court upheld that penalty proceedings under the Income Tax Act require specific, recorded satisfaction by the A...

May 20, 2025 222 Views 0 comment Print

Unaudited Accounts & Profit Discrepancy: ITAT Restricts addition to 1.52% of Turnover

Income Tax : ITAT Jaipur partially allows Adworld Communications appeal, reducing income estimation based on prior year's results after account...

May 20, 2025 126 Views 0 comment Print


Latest Notifications


CBDT updates ITR-U Form wef 19th May 2025

Income Tax : CBDT notifies revised ITR-U form under the Income-tax (19th Amendment) Rules, 2025, effective from date of publication in Official...

May 20, 2025 3519 Views 0 comment Print

CBDT Specifies IRFC Ten Year Zero Coupon Bond

Income Tax : CBDT specifies Indian Railway Finance Corporation Ltd.'s Ten Year Zero Coupon Bond under Income-tax Act Section 2(48), detailing f...

May 15, 2025 1008 Views 0 comment Print

CBDT notifies Income Tax Exemption for Telangana Pollution Board

Income Tax : CBDT grants tax exemption to Telangana Pollution Board for specific incomes from FY 2021-22 to 2025-26, with conditions on activit...

May 14, 2025 132 Views 0 comment Print

CBDT Notifies New ITR-7 Form from April 1, 2025 for AY 2025-26

Income Tax : CBDT issues Income-tax (18th Amendment) Rules, 2025, substituting Form ITR-7. New form effective from April 1, 2025, under section...

May 10, 2025 939 Views 0 comment Print

CBDT revises ITR-V and Acknowledgement forms for AY 2025-26

Income Tax : CBDT revises ITR-V and Acknowledgement forms for AY 2025-26, effective April 1, 2025, with updated verification and filing instruc...

May 8, 2025 705 Views 0 comment Print


ITAT Condones 884-Day Delay in Appeal Filing, Urges Pragmatic Approach

May 18, 2025 189 Views 0 comment Print

ITAT Pune condones significant delay in cooperative society’s appeals, citing Supreme Court ruling emphasizing pragmatic view over technicalities.

Section 194IA: TDS on sale of immovable property

May 18, 2025 1215 Views 0 comment Print

As per section 194IA of income tax Act, if immovable property, other than agricultural land, is transferred tax (TDS) will be deducted @1% if sale consideration or stamp duty value is more than ₹50L.

SC Quashes AY 15-16 Income Tax Reassessment Notices Post 1st April 2021

May 18, 2025 501 Views 0 comment Print

Supreme Court sets aside reassessment notices for AY 2015-16 issued after April 1, 2021, based on Revenue’s concession in the Rajeev Bansal case.

Old vs New Tax Regime Comparison FY 2025-26

May 18, 2025 3123 Views 0 comment Print

Compare India’s old and new tax regimes for FY 2025-26. Find the break-even point based on deductions to choose the best option.

ITAT Mumbai Sets Key Principles on Approval Quality & Statute Interpretation

May 18, 2025 330 Views 0 comment Print

Mumbai ITAT rules on quality of tax approvals after search, interpreting undefined terms by analogy, and the principle of subordinate authorities following precedent.

Significance of Section 56(2) (viib) Exemption for DPIIT-Recognised Startups

May 18, 2025 378 Views 0 comment Print

To facilitate ease of fundraising and to promote entrepreneurship, the Government has introduced specific exemptions for DPIIT-recognised startups from the rigors of Section 56(2) (viib). This article explains the significance of this exemption and why it is crucial for startups in India.

Transfer Pricing: ITAT Delhi Favors Segmental ALP, Rejects Notional Interest

May 18, 2025 180 Views 0 comment Print

ITAT Delhi directs segment-wise ALP, includes Fiberfox comparable, and rejects notional interest on AE dues for Opterna Technologies, remits Section 68 issue.

Reopening u/s. 148 merely on the basis of change of opinion is bad-in-law

May 17, 2025 834 Views 0 comment Print

ITAT Jaipur held that reopening under section 148 r.w.s. 148A is bad-in-law and liable to be quashed in as much as reopening was merely on the basis of change of opinion. Accordingly, appeal of assessee allowed and reopening quashed.

TPO to determine ALP of royalty payment using TNMM method: ITAT Bangalore

May 17, 2025 189 Views 0 comment Print

ITAT Bangalore held that disallowance of entire royalty payment by taking ALP at NIL not justified since there is no change in facts, circumstances or functions and hence principle of consistency should be applied.

Delay due to CA’s mistaken belief: Income Tax Appeal delay condoned

May 17, 2025 315 Views 0 comment Print

ITAT Bangalore held that delay of 38 days caused due to mistaken belief of Chartered Accountant (CA) is a sufficient cause and hence condonable. Accordingly, delay condoned and appeal to be decided on merits.

Sponsored
Sponsored
Search Post by Date
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031