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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 513 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 828 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 639 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 906 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 1554 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 99 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 42 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 45 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 45 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 99 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 111 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 3741 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 156 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 399 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


ITAT Upholds Penalty on Charitable Institution for Tax Audit Violation

October 26, 2023 1092 Views 0 comment Print

Vakrangee Foundation faces a penalty for non-compliance with tax audit provisions under Section 44AB. ITAT rules that Section 2(15) does not exempt charitable institutions.

Section 11 Exemption denial over Punching Error: ITAT Orders Re-Adjudication

October 26, 2023 660 Views 0 comment Print

Explore case of Vasan Sheri Kelavani Samiti Trust vs. ITO, where Section 11 exemption was denied due to a punching error. ITAT orders re-adjudication and considers rectification application.

Keyman Insurance Policy : AO Taken possible view- PCIT not justified in initiating revision proceedings

October 26, 2023 570 Views 0 comment Print

Discover the case of Drupad Menda vs PCIT, where the revision order under Section 263 for AY 2018-19 is challenged. Keyman Insurance Policy deductions in question.

Covid 19 & mere 2 days to reply notice is reasonable cause: Section 271(1)(b) deleted

October 26, 2023 684 Views 0 comment Print

Explore case of Manjeet Kaur vs ITO, where a penalty under Section 271(1)(b) was contested due to a reasonable cause amid Covid-19. Full ITAT Jaipur order analysis.

SC Upholds Charitable Status of Water and Land Management Institute

October 26, 2023 456 Views 0 comment Print

The Supreme Court of India reaffirms charitable status for Water and Land Management Training and Research Institute, ensuring environmental protection.

Nature of Land at Agreement Time Determines Agricultural or Industrial Classification

October 26, 2023 843 Views 0 comment Print

The ITAT Delhi directs re-evaluation of the nature of sold land in the Chander Mani Sharma Vs ITO case, emphasizing the importance of the sale deed for determining agricultural status.

ITAT Declares Assessment Void Due to Non-Existent Entity

October 26, 2023 429 Views 0 comment Print

In a significant ruling, ITAT Ahmedabad declares an assessment order void, passed in the name of a non-existent entity after a court-approved amalgamation.

Change of CA Leading to Non-Receipt of Notices: ITAT Directs Re-Adjudication

October 26, 2023 498 Views 0 comment Print

In Narayan Dattarao Giram Vs ITO, ITAT Pune grants the assessee another chance due to a Chartered Accountant change resulting in non-receipt of notices.

Delhi HC Orders Re-Adjudication as Khadi Yarn Sale Income already offered to Tax

October 26, 2023 156 Views 0 comment Print

Delhi High Court orders re-adjudication for Assessment Year 2019-20, regarding income from the sale of khadi yarn, emphasizing verification of additional documents.

Calculating Relief Under Sections 89 & 89A: Tax Benefits Explained

October 25, 2023 33591 Views 1 comment Print

Learn how to calculate tax relief under Sections 89 and 89A for arrears, gratuity, and foreign retirement benefits. Understand the steps and eligibility criteria.

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