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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 1059 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 741 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 6831 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 3465 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 4776 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 3891 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 4275 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 201 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 6180 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 2529 Views 0 comment Print


Latest Judiciary


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 12 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 30 Views 0 comment Print

CBDT Circulars on Monetary Limits Apply to Pending Appeals: Bombay HC

Income Tax : Bombay High Court decision in CIT Vs Madhukar K. Inamdar H.U.F., addressing applicability of CBDT Circular dated 15-05-2008 on tax...

July 17, 2024 54 Views 0 comment Print

No addition for explained demonetization currency deposited in Bank

Income Tax : In the case of Mewar Hospital Pvt. Ltd. Vs ACIT (ITAT Jodhpur), Bench ruled no addition for explained demonetization currency depo...

July 17, 2024 54 Views 0 comment Print

No Addition if Accounts Supported by Affidavit Remain Uncontroverted: ITAT Jodhpur

Income Tax : Dhanpat Raj Khatri Vs ITO (ITAT Jodhpur) If the explanation based on accounts supported by affidavit is not controverted, no addit...

July 17, 2024 48 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 102 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 12387 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


No Penalty Under Section 271(1)(c) When No Tax is Evaded

May 17, 2024 7095 Views 0 comment Print

Can penalty under Section 271(1)(c) be imposed if self-assessment tax was paid before notice u/s 148? Read the detailed analysis of Smt. Kavita Sachdev Vs ITO (ITAT Indore).

Waive of Outstanding Income Tax Demand of earlier years

May 17, 2024 2580 Views 0 comment Print

The CBDT implements the interim budget’s historic announcement of waiving old tax demands up to specified amounts for certain financial years, providing relief to taxpayers.

Bombay HC Quashes Reassessment order which was based on mere GST DGGI information

May 17, 2024 846 Views 0 comment Print

Bombay HC quashes reassessment notice and remands case for fresh consideration. Find out the details of this important legal development.

Income Tax Act Section 132(8-A): Bank Account Freezing Expires in 60 Days

May 17, 2024 1902 Views 0 comment Print

Learn how Delhi High Court ruled that bank account freezing under Section 132(8-A) of Income Tax Act lapses after 60 days. Get insights into Pooja Trading Co. Vs DCIT (Inv) & Anr.

Delhi HC dismisses Writ Petition challenging Section 153C order

May 17, 2024 672 Views 0 comment Print

Delhi High Court case involves an assessee contesting ₹1.62 crore addition to income tax under Section 153C of the Income Tax Act for AY 2014-15.

No cross-empowerment of State & Central GST authorities without notification: Madras HC

May 17, 2024 1083 Views 0 comment Print

In absence of GST notification issued for cross-empowerment, authorities from counterpart Department cannot initiate proceedings where an assessee is assigned to counterpart.

High Share Premium Receipt Without Business Activity: HC Confirms Addition

May 17, 2024 405 Views 0 comment Print

Calcutta High Court ruling questions legitimacy of investments made from share premium without business activity. Details & analysis here.

Addition Merely Based On CBIC Instruction unsustainable: Delhi HC

May 17, 2024 492 Views 0 comment Print

Delhi High Court rules unexplained expenditure addition, based solely on CBIC instruction, not sustainable. Details of the case here.

Essential Tips for Hassle-Free Filing Income Tax Returns like a Pro

May 17, 2024 3522 Views 0 comment Print

Learn essential tips for hassle-free filing of income tax returns like a pro. Maximize deductions and minimize errors with these expert guidelines.

ITAT Bangalore Remands Demonetization Period Cash Deposit Case

May 17, 2024 108 Views 0 comment Print

Read the detailed analysis of the ruling by ITAT Bangalore on the appeal filed by Chandrappa Nalina against the treatment of cash deposits during demonetization. Understand the assessment and CIT(A) decisions.

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