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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 1002 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 720 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 6744 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 3357 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 4737 Views 0 comment Print


Latest News


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 192 Views 0 comment 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 4131 Views 1 comment Print

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 16, 2024 3849 Views 3 comments 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 6123 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 2511 Views 0 comment Print


Latest Judiciary


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 30 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 42 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 33 Views 0 comment Print

Section 263 revisional order without issuing SCN is void ab initio

Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...

July 17, 2024 42 Views 0 comment Print

Reopening Without New Material & on Mere Change of Opinion invalid

Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...

July 17, 2024 57 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 87 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 300 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 195 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 12369 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 903 Views 0 comment Print


ICAI Letter to CBDT on Technical Glitches in Income Tax Filing Portal

July 13, 2024 2511 Views 0 comment Print

Read ICAI’s concerns about technical glitches in tax filing and payment systems. Understand the impact on taxpayers and solutions proposed.

ICAI raises Concerns in relation to Form 26AS/TIS/AIS and in e-filing ITR Forms

July 13, 2024 13212 Views 7 comments Print

ICAI addresses issues with Form 26AS/TIS/AIS and ITR filing glitches, urging CBDT for timely resolution to aid taxpayers in meeting the July 31 deadline.

A stopped Electric meter implies no meter reading: Gujarat HC

July 13, 2024 228 Views 0 comment Print

Read the detailed analysis of the Gujarat High Court judgment in the case of Torrent Power Ltd. vs State of Gujarat & Ors, addressing key legal issues in electricity billing.

ITAT Dismisses Revenue Appeal Due to Low Tax Effect – Circular No. 5/2024

July 13, 2024 984 Views 0 comment Print

ITAT Indore dismisses revenue appeals in ITO Vs. M.P. Police Sakh Sahakari Sanstha Maryadit due to low tax effect, citing CBDT Circular No. 5/2024 eliminating audit objections.

Denial of personal hearing vitiates order passed under Section 148A(d)

July 13, 2024 852 Views 0 comment Print

Explore the detailed analysis of the Calcutta High Court judgment in Pratima Halder Vs Union of India on challenges to Income Tax Act notices and orders for AY 2020-21.

Taxation in Digital Economy: Income Tax provisions in India vis-à-vis Permanent Establishment

July 13, 2024 546 Views 0 comment Print

Explore India’s income tax provisions for the digital economy, focusing on the concept of Permanent Establishment and recent legal developments.

Share Split and Amalgamation: Analysis from a Capital Gains Perspective

July 12, 2024 1788 Views 0 comment Print

Analyze the tax implications of share splits and amalgamations in India. Understand capital gains treatment, period of holding, and cost of acquisition intricacies.

Mere inadequate enquiry alone not justify Commissioner’s revisional jurisdiction

July 12, 2024 345 Views 0 comment Print

Assessing Officer is not required to detail reasoning for each deduction in the assessment order and that inadequate enquiry alone does not justify the Commissioner’s revisional jurisdiction.

ITAT deletes addition for alleged bogus long-term capital gains

July 12, 2024 672 Views 0 comment Print

Explore the detailed ITAT Mumbai order analysis of Yogesh P. Thakkar vs DCIT, focusing on disputed long-term capital gains and commission expenditure.

Alleged bogus LTCG: ITAT deletes additions in absence of corroborative direct evidence

July 12, 2024 564 Views 0 comment Print

Read the full text of the ITAT Mumbai order in DCIT vs. Dilip B. Jiwrajka covering appeals against additions of unexplained income and commission under IT Act sections 68 & 69C for AYs 2012-13 to 2015-16.

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