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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


Income Tax Bill 2025: Key Proposals and Simplifications

Income Tax : Discover key changes in the Income Tax Bill 2025, including enhanced rebates, simplified trust provisions, and extended registrati...

March 15, 2025 543 Views 0 comment Print

Analysis of Section 194T of Income Tax Act 1961: TDS on Payments to Partners

Income Tax : Section 194T mandates 10% TDS on partner payments exceeding ₹20,000 annually, effective April 1, 2025. Learn its impact, complia...

March 15, 2025 858 Views 0 comment Print

Income from ‘Profits and Gains of Business or Profession’

Income Tax : Understand income tax rules for business & profession in India. Covers business, profession, vocation, occupation, and deduction g...

March 15, 2025 651 Views 0 comment Print

Income from Business and Profession under Income Tax Act 1961

Income Tax : In the realm of taxation, income is classified into various categories, with one of the most significant being Income from Busines...

March 13, 2025 921 Views 0 comment Print

Unlocking Mysteries of Gross Total Income and Income Tax Deductions

Income Tax : The Indian taxation framework, as delineated by the Income Tax Act of 1961, may initially seem daunting. Nevertheless, acquiring a...

March 13, 2025 1569 Views 0 comment Print


Latest News


Corporate Tax Collection Trends & Foreign Investment Policies

Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...

March 16, 2025 45 Views 0 comment Print

Impact of New Income Tax Bill 2025 on Compliance & Revenue

Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...

March 16, 2025 102 Views 0 comment Print

Govt Expects 12.65% Rise in Income Tax Collections Despite Tax Rate Cut

Income Tax : The Finance Bill 2025 projects a 12.65% rise in income tax collections despite tax cuts, with estimated receipts of ₹25.20 lakh ...

March 16, 2025 48 Views 0 comment Print

Impact of Tax Rate Reduction on Middle-Class & Savings

Income Tax : The Finance Bill 2025 revises tax slabs, reducing the burden on middle-class taxpayers. The changes aim to boost savings and consu...

March 16, 2025 48 Views 0 comment Print

Corporate Tax Revenue Collection and Statewise Distribution

Income Tax : Corporate tax revenue distribution follows Finance Commission guidelines, with states receiving 41% of shareable taxes. Incentives...

March 16, 2025 48 Views 0 comment Print


Latest Judiciary


Section 56(2)(viib) Not Applicable to Share premium Transactions Between Holding & Wholly-Owned Subsidiary

Income Tax : Delhi High Court sets aside DRP's order in FIS Payment case, directing a fresh review under ITAT rulings on Section 56(2)(viib). K...

March 16, 2025 114 Views 0 comment Print

ITAT deletes Section 56(2)(viib) addition & Upholds DCF method

Income Tax : ITAT Delhi upholds CIT(A) ruling in Kissandhan Agri case, rejecting tax addition under Section 56(2)(viib). AO’s valuation metho...

March 16, 2025 120 Views 0 comment Print

ITAT Mumbai Allows CSR Deduction Under Section 80G

Income Tax : ITAT Mumbai ruled in favor of Jamnagar Utilities, allowing CSR donations as deductions under Section 80G, rejecting the Revenue's ...

March 16, 2025 4785 Views 0 comment Print

Section 115BBE not applicable to business income declared during survey: ITAT Pune

Income Tax : ITAT Pune ruled that Section 115BBE does not apply to business income declared in a survey. Read the case details and implications...

March 16, 2025 168 Views 0 comment Print

Addition for unverified creditors under Section 41(1) not automatic: ITAT Kolkata

Income Tax : ITAT Kolkata partly allows Utpal Sarkar’s appeal against DCIT, addressing bogus sundry creditors and inter-unit transactions. Ca...

March 15, 2025 423 Views 0 comment Print


Latest Notifications


CBDT notifies Power Finance Corp Zero Coupon Bond under section 2(48)

Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...

March 11, 2025 1020 Views 0 comment Print

High-Risk and Non PAN Transaction Cases: Insight Portal Guidelines

Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...

March 7, 2025 645 Views 0 comment Print

High-Risk CRIU/VRU Cases and proceedings under Sections 148/148A

Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...

March 7, 2025 609 Views 0 comment Print

Assessment & Investigation of Benami, Foreign Assets & TDS Cases

Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...

March 7, 2025 315 Views 0 comment Print

Income Tax Department identifies High-Risk Non-Filers for AY 2019-22

Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...

March 7, 2025 9672 Views 0 comment Print


Understanding Statement of Financial Transaction (SFT)

November 4, 2023 10701 Views 0 comment Print

Dive into the intricacies of the Statement of Financial Transaction (SFT) in India. Learn about reportable transactions, entities filing statements, and consequences of non-compliance. Explore the significance of SFT in pre-filing income returns, the registration process, and reporting obligations for financial institutions under the Income Tax Act. Stay informed to navigate the regulatory landscape and ensure compliance.

Payment to Retiring Partner is Capital Expenditure: ITAT

November 4, 2023 4314 Views 0 comment Print

Payments made as part of a settlement agreement regarding relinquishment of partnership interests are capital expenditures ITAT Pune in ITO Vs Sarsan Developers

Unabated Assessment: No addition in Absence of Incriminating Materials

November 4, 2023 1875 Views 0 comment Print

In Completed/Unabated Assessments, AO Cannot Make Additions in Absence of Incriminating Material Found during Section 132 or 132A Search

Non-Consideration of Investor Identity & Creditworthiness Evidences: Addition deleted

November 4, 2023 450 Views 0 comment Print

In the Prompt Barter Pvt. Ltd. vs. ITO case, ITAT Kolkata directs AO to remove the income tax addition due to non-consideration of evidences for identity and creditworthiness of investors.

Section 282 Mandate Violated: Notice not Emailed, Only Uploaded on IT E-filing Portal

November 4, 2023 1866 Views 0 comment Print

ITAT Delhi restores a matter to CIT(E) for re-adjudication after rejecting a charitable trust’s 80G exemption due to their failure to respond to issued notices. Analysis of the case.

ITAT Directs Submission of Sales Tax Challan for Payment Proof

November 4, 2023 735 Views 5 comments Print

Read about the ITAT Delhi’s direction to submit sales tax documents within 6 months. Analysis of the case between Jay Polychem India Ltd and ACIT.

Kerala HC declines Tax Refund, Orders expedited disposal of Pending appeals by ITAT

November 4, 2023 471 Views 0 comment Print

Kerala High Court denies tax refund in Kadavalloor Service Co-Operative Bank Ltd. vs ITO case, orders swift resolution of pending appeals by ITAT

ITAT Upholds Section 69C addition for Bogus Purchases from Dummy Companies

November 4, 2023 4296 Views 0 comment Print

Read the full text of the ITAT Delhi order on the case of AAA Teleshopping Pvt. Ltd vs. ACIT for assessment year 2011-12, with detailed analysis and conclusions.

CUP Method Rejection Unwarranted for Uniform Hourly Charges to AEs & Third Parties

November 4, 2023 258 Views 0 comment Print

ITAT that as long as the charges for hourly services provided by appellant were uniform to AEs and third parties, rejection of CUP method was unwarranted.

Section 40(a)(ia) Inapplicable to TDS Non-Deduction on Pre-AY 2015-16 Salary

November 4, 2023 852 Views 0 comment Print

ITAT Delhi’s decision in the case of Sumaitri Bima Distributors Pvt. Ltd vs. ITO regarding non-applicability of S.40(a)(ia) for TDS on salary before AY 2015-16.

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