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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 Source on Payments to Non-Residents

Income Tax : Learn about TDS on payments to non-residents, including business connection rules, royalty provisions, and significant economic pr...

March 17, 2025 660 Views 0 comment Print

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 1059 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 1656 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 855 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 999 Views 0 comment Print


Latest News


Direct Tax & Advance Tax Collections for F.Y. 2024-25 as on 16.03.2025

Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...

March 17, 2025 24 Views 0 comment Print

CBDT Clarifies Guidance on Principal Purpose Test (PPT)

Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...

March 17, 2025 303 Views 0 comment Print

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 72 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 246 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 72 Views 0 comment Print


Latest Judiciary


Writ dismissed as no question of law arises: Delhi HC

Income Tax : The Assessee is aggrieved by the information received pursuant to application under Right to Information Act, 2015, whereby the As...

March 17, 2025 30 Views 0 comment Print

Revisionary action u/s. 263 based on factual misconception bad-in-law

Income Tax : ITAT Mumbai held that exercising revisionary jurisdiction under section 263 of the Income Tax Act by PCIT on the basis of factual ...

March 17, 2025 42 Views 0 comment Print

Revisionary jurisdiction u/s. 263 not invocable as twin pre-conditions not satisfied

Income Tax : ITAT Ahmedabad held that assessment order passed u/s. 143(3) is neither erroneous nor prejudicial to the interest of revenue. Henc...

March 17, 2025 33 Views 0 comment Print

Voluntary addition during hearing cannot be equated with revision of settlement application

Income Tax : During pendency of the assessment proceedings, respondent No.1 filed application u/s. 245C(1) before the Income Tax Settlement Com...

March 17, 2025 30 Views 0 comment Print

Writ dismissed as alternate and efficacious remedy available: Bombay HC

Income Tax : Bombay High Court held that exercising extraordinary jurisdiction under Article 226 of the Constitution of India not justified as ...

March 17, 2025 33 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 1050 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 654 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 633 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 318 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 9702 Views 0 comment Print


Delhi ITAT Upholds Addition for Bogus Accommodation Entry & Unexplained Commission Expense

November 5, 2023 882 Views 0 comment Print

The Delhi ITAT has upheld the addition relating to bogus accommodation entries and unexplained commission expenditure in the A and R Buildmart Pvt. Ltd. case for AY 2009-10.

Co-op Societies Eligible for Section 80P Deduction on Interest from Co-op Banks

November 5, 2023 13137 Views 0 comment Print

In a recent ITAT Mumbai case, the deduction of interest income under Section 80P for a cooperative housing society was upheld, clarifying eligibility for cooperative societies.

Email ID Discrepancy on Form 35 & ITR: ITAT Grants Assessee another Opportunity

November 5, 2023 861 Views 0 comment Print

Vikram Udeshanghbhai Padhiyar vs. ITO case: ITAT Surat allows another chance for the Assessee due to non-compliance caused by email ID discrepancy.

Interest on Margin facility & late Payment to Brokers allowable: ITAT Ahmedabad

November 5, 2023 1458 Views 1 comment Print

ITAT Ahmedabad has allowed a review petition in the Swing Infraspace case, overturning disallowances of expenses. Read the full text of the order here.

Lack of Documentary Evidence for 12AA Registration: ITAT Remands Matter to CIT(E)

November 5, 2023 372 Views 0 comment Print

ITAT Pune’s decision to remand the matter back to CIT(E) regarding trust registration under section 12AA of the Income Tax Act, emphasizing principles of natural justice.

ITAT Delhi dismisses reopening as same was based on change of opinion

November 5, 2023 426 Views 0 comment Print

Read the detailed analysis of the ITAT Delhi’s decision to dismiss a reopening based on a change of opinion in the case of ITO Vs Sant Singh.

Commission paid to Booking.com – Applicability of TDS Provisions

November 5, 2023 14427 Views 1 comment Print

Learn about the applicability of TDS provisions for commission payments to Booking.com in India, including analysis of tax laws and international treaties.

Income Tax on Joint Development Agreements under Section 45(5A)

November 4, 2023 7092 Views 0 comment Print

Learn how Joint Development Agreements (JDA) affect income tax under Section 45(5A) of the Income Tax Act. Understand calculations, gains, and implications.

Deduction was allowable on upfront loan processing fee paid in lumpsum in the year of payment

November 4, 2023 3972 Views 0 comment Print

Merely because the loan processing charges though paid upfront but amortized over a period of five years, solely to be in consonance with the mercantile system of accounting, deduction of the entire charges in lump sum in the year in which the same were paid could not be denied to assessee.

Assessment framed u/s. 153A without following mandate of section 153C is unsustainable

November 4, 2023 1167 Views 0 comment Print

ITAT Delhi held that assessment framed u/s. 153A of the Income Tax Act based on material found during search on third party without following the mandate of section 153C of the Income Tax Act is unsustainable in law.

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