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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


ITR Filing 2024: Why Taxpayers Demand July 31 Deadline Extension?

Income Tax : Discover why taxpayers are urging for an extension of July 31 ITR filing deadline in 2024. Learn about ITR forms, filing steps, co...

July 23, 2024 228 Views 0 comment Print

Union Budget 2024-25 – Corporate Tax Wishlist

Income Tax : Explore key corporate tax proposals for Union Budget 2024-25: lower tax rates, new incentives, and rationalized TDS to boost growt...

July 22, 2024 246 Views 0 comment Print

Calcutta, Films, and Income tax

Income Tax : Explore the intriguing history of Calcutta's film industry pre-1947 and the income tax challenges faced by iconic artists, offerin...

July 22, 2024 2160 Views 0 comment Print

Budget 2024 Expectation: Iron out enigma of tax implication for goodwill on corporate reorganization

Income Tax : Explore Budget 2024 expectations on resolving tax implications for goodwill in corporate reorganization. Analyzing legal amendment...

July 22, 2024 354 Views 0 comment Print

The ongoing issues of Tax Rebate Section 87A on Special income wef 5th July 2024

Income Tax : Explore the ongoing issues of tax rebate under Section 87A for short-term capital gains on shares, following the new utility relea...

July 22, 2024 5760 Views 2 comments Print


Latest News


Economic Survey 2023- 24

Income Tax : Explore India's impressive economic growth, government initiatives, and the challenges ahead in sustaining development through str...

July 22, 2024 120 Views 0 comment Print

आयकर पोर्टल गड़बड़ियों के कारण समस्याएं और समय सीमा बढ़ाने का अनुरोध

Income Tax : आयकर पोर्टल की तकनीकी गड़बड़ियों के कारण करदाताओ...

July 20, 2024 3588 Views 1 comment Print

CBDT awards Taxnet 2.0 Project to M/s Bharti-Airtel Ltd

Income Tax : The CBDT awards the Taxnet 2.0 project to Bharti-Airtel Ltd, enhancing the IT Department’s digital infrastructure with secure, r...

July 20, 2024 498 Views 0 comment Print

Faulty ITR Filing Utility not allowing legitimate section 87A rebate: Immediate Rectification demanded

Income Tax : Faulty Income Tax Return (ITR) Filing Utility are currently enforcing incorrect income tax liability by not allowing legitimate cl...

July 19, 2024 4884 Views 1 comment Print

Issues on Income Tax Portal: Request for ITR Deadline Extension

Income Tax : Addressing glitches in ITD portal, the Association of Tax Lawyers requests an extension for the ITR filing deadline due to signifi...

July 18, 2024 6465 Views 0 comment Print


Latest Judiciary


HC Quashes Section 148A(d) order as approval was not from correct specified authority

Income Tax : Calcutta High Court quashes IT order against Triton Overseas for jurisdictional issues under Section 148A(d). Learn about the Cour...

July 22, 2024 93 Views 0 comment Print

ITAT Mumbai deletes penalty where addition was made on estimation basis

Income Tax : ITAT Mumbai removes penalty imposed on Sunil Bhagwandas Vorani (HUF) as addition was made on estimation basis, not due to concealm...

July 22, 2024 69 Views 0 comment Print

TDS not deductible u/s 195 as services utilised outside India: ITAT Delhi

Income Tax : ITAT Delhi held that income of non-resident is not liable for deduction of tax at source u/s. 195 as amount paid is covered in exc...

July 22, 2024 135 Views 0 comment Print

Assessee Not Penalized for CA’s Fault; 1430 Appeal Delay Condoned

Income Tax : Read the full text of ITAT Ahmedabad's order where the delay in filing an appeal by the assessee was condoned due to CA negligence...

July 22, 2024 318 Views 0 comment Print

JAO has no Authority for Sections 148A(b) & 148A(d) Notices Outside Faceless Assessment

Income Tax : Bombay High Court rules on jurisdiction of JAO to issue reassessment notices under faceless assessment, impacting Income Tax Act S...

July 22, 2024 237 Views 0 comment Print


Latest Notifications


Notification No. 71/2024-Income Tax Dated: 18th July, 2024

Income Tax : Discover the key update in Income Tax Notification No. 71/2024, which extends the compliance deadline from March 31, 2024, to Marc...

July 20, 2024 99 Views 0 comment Print

Notification No. 65/2024-Income Tax Dated: 18th July, 2024

Income Tax : Read about Income Tax Notification No. 65/2024 dated 18th July, 2024, amending provisions under section 10 of the Income-tax Act, ...

July 19, 2024 252 Views 0 comment Print

Notification No. 64/2024-Income Tax Dated: 18th July, 2024

Income Tax : Discover the latest amendment in Income Tax Notification No. 64/2024, extending the deadline to March 31, 2025. Learn about its im...

July 19, 2024 144 Views 0 comment Print

Notification No. 63/2024-Income Tax Dated: 18th July, 2024

Income Tax : CBDT extends tax exemption deadline under Section 10(23FE) to March 31, 2025. Read the full details of Notification No. 63/2024 an...

July 19, 2024 102 Views 0 comment Print

Notification No. 62/2024-Income Tax Dated: 18th July, 2024

Income Tax : Explore Notification No. 62/2024 issued by the Ministry of Finance, Department of Revenue, amending Income Tax Act provisions effe...

July 19, 2024 117 Views 0 comment Print


Income estimate by applying a flat rate can be fair if AO exercises his judgment reasonably and not arbitrarily

December 9, 1948 2585 Views 0 comment Print

CIT v. S Sen & Others (Orissa High Court) 17 ITR 355 (Orissa) The proceeding arises out of two application consolidated because of the facts being identical, by the Commissioner of Income-tax/Excess profits Tax, Bihar and Orissa, under Section 66(1) of the Income-tax Act read with Section 21 of the Excess profits tax Act for the stating a case and a case stated for the opinion of this Court on the following three question of law :-

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