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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


Comparative Analysis: Income Tax Act 1961 vs. Income Tax Bill 2025

Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...

February 13, 2025 4872 Views 0 comment Print

USA Taxation 2024: Updated Guidelines for Individuals

Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...

February 13, 2025 123 Views 0 comment Print

वरिष्ठों को भी सभी स्तोत्रों से प्राप्त बारह लाख तक आय पर टैक्स छूट नहीं देना कहाँ तक उचित

Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...

February 13, 2025 351 Views 0 comment Print

Section 44AD: Presumptive Taxation for Small Businesses

Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...

February 13, 2025 792 Views 0 comment Print

New Income Tax Bill, 2025: Important Key Points

Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...

February 12, 2025 3360 Views 0 comment Print


Latest News


Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961

Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...

February 13, 2025 1401 Views 0 comment Print

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 114 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 246 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 33 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 10644 Views 2 comments Print


Latest Judiciary


Source of gift satisfactorily explained: ITAT deleted addition

Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...

February 13, 2025 30 Views 0 comment Print

Transactions between the assessee and its Indian AE found to be at AL in TP adjustment: HC held no further attribution

Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...

February 13, 2025 27 Views 0 comment Print

Matter remain uncompiled due to accident of CA: ITAT remanded back the matter

Income Tax : In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that a...

February 13, 2025 45 Views 0 comment Print

Taxpayer is obligated to furnish sufficient data on comparable transaction related to foreign AE: ITAT remanded matter

Income Tax : In the matter above-mentioned ITAT partly allowed the appeal filed by the assessee by remanded it back to file of TPO after consid...

February 13, 2025 42 Views 0 comment Print

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 195 Views 0 comment Print


Latest Notifications


Punjab RERA Notified for Income Tax Exemption under Section 10(46A)(b)

Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...

February 13, 2025 9 Views 0 comment Print

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 91503 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 183 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 321 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 327 Views 0 comment Print


How to file Belated Income Tax Return after due date

November 10, 2023 11049 Views 2 comments Print

Article explains What is Belated Return, limitations of filing Belated application, consequences when submitting Belated return and Steps to file Belated Return

Demand unsustainable as revenue failed to lodge claim with Resolution Professional

November 10, 2023 498 Views 0 comment Print

Delhi High Court held that as revenue has failed to lodge the claim with the Resolution Professional, they cannot enforce the impugned orders and notices, given the binding nature of approved Resolution Plan.

No penalty u/s 271FAA as defects were rectified within the time limit u/s 285BA

November 10, 2023 1239 Views 0 comment Print

Penalty under section 271FAA  was deleted as the defects in the statement of the reportable account were rectified within the time limit provided under sub-section (4) of Section 285BA.

Closed assessment cannot be reopened without any actionable material

November 10, 2023 915 Views 0 comment Print

Delhi High Court held that reopening of closed assessment which has reached culmination without any actionable material is unsustainable in law and hence liable to be quashed.

ITAT Upholds Section 56(2)(viib) Addition for Excess Consideration on Share Allotment

November 10, 2023 819 Views 0 comment Print

ITAT Mumbai upholds addition in Osianama Learning Experience Pvt. Ltd. case under Section 56(2)(viib) of the Income Tax Act, related to excess consideration received on allotment of shares.

No section 234E Penalty for Delay in TDS return filing due to filing in wrong form

November 10, 2023 2034 Views 0 comment Print

Explore the Kerala High Court’s ruling deleting section 234E penalty for TDS return delay caused by filing in Form 24Q instead of 26Q. Insights on the case, assessment, and the court’s decision.

IT & Admin Services to Indian Affiliate by Singapore Entity Not FTS: Delhi HC

November 10, 2023 534 Views 0 comment Print

Delhi High Court rules on income tax and administrative services provided by a Singapore entity to its Indian affiliate. Analysis of the case Commissioner of Income Tax vs. Bio-Rad Laboratories.

PCIT Can’t Initiate Revision Based on document not forming part of Assessment

November 10, 2023 729 Views 0 comment Print

Learn about Visu Casement Pvt. Ltd. Vs PCIT (ITAT Ahmedabad) case. ITAT ruled PCIT can’t initiate proceedings based on non-participating documents, protecting taxpayers’ interests.

Permanent Establishment in International Taxation

November 9, 2023 1539 Views 0 comment Print

Explore the intricacies of Permanent Establishment in international taxation, from UN Model to domestic laws. Learn about key provisions, tests, and recent developments. Contact us for clarity on International Taxation/DTAA.

Section 271(1)(c) Penalty deleted due to AO’s Failure to Specify Applicable limb

November 9, 2023 978 Views 0 comment Print

Penalty under section 271(1)(c) was not leviable as there was failure on the part of AO as to which limb of Section 271(1)(c) got attracted for imposition of penalty.

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