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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 435 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 723 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 606 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 894 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 1542 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 33 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 78 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 33 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 39 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 36 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 63 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 72 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 957 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 123 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 318 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 1017 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


Interest Expenditure U/s. 57 allowed When Borrowed Funds Used for Interest-Bearing Advances

October 25, 2023 753 Views 0 comment Print

Explore the ITAT Ahmedabad ruling in Amit Dhirajlal Doshi vs. DCIT regarding interest expenditure deduction under Section 57 of Income Tax Act.

Interest on Investments under Karnataka Co-op Societies Act Eligible for Section 80P(2)(a)(i) Deduction

October 25, 2023 1710 Views 0 comment Print

ITAT Bangalore re-examines deduction under Section 80P(2)(a)(i) of the Income Tax Act for co-operative societies’ investments as per the Karnataka Co-operative Societies Act.

No section 69 addition in hand of shareholder for unexplained investment

October 25, 2023 753 Views 0 comment Print

Case study: JCIT vs. Ajay Sharma. Read NFAC introduction to the case & its findings on Rs. 1.95 crores addition on account of unexplained investment under Section 69 of Income Tax Act.

Explained Gold Jewellery in Survey cannot be treated as Unexplained Investment

October 25, 2023 543 Views 0 comment Print

ITAT Chennai’s ruling in the case of Fathima Jewellers vs. DCIT clarifies that excess gold jewellery stock found during a survey isn’t unexplained investment under IT Act.

ITAT Deletes Penalty: Failure to file Form No. 3CEB due to CA’s Opinion

October 25, 2023 915 Views 1 comment Print

The Income Tax Appellate Tribunal (ITAT) in Pune deleted the penalty in the Jyoti Paper Udyog Ltd Vs. ACIT case due to non-production of Form No. 3CEB under Section 92E.

ITAT Directs Re-adjudication for Deduction u/s 80IB(10) on Combined Residential & Commercial Project

October 25, 2023 423 Views 0 comment Print

ITAT Pune directs reconsideration of an appeal by Gajanana Developers against disallowance of deduction under Section 80IB(10) of the Income Tax Act. Find out more.

Penalty Not Leviable under Section 271AAA Without Specific Inquiry

October 25, 2023 819 Views 0 comment Print

In a case of Vikram Dhirani vs. DCIT, ITAT Delhi rules in favor of the assessee, deleting the penalty under section 271AAA due to the lack of opportunity to explain undisclosed income source during search proceedings.

ITAT upheld validity of rectified partnership deed

October 25, 2023 576 Views 0 comment Print

Neeraj Gas Movers successfully argues for the validity of a rectified partnership deed, leading to the approval of salary and interest claims by ITAT.

CBDT Circular doesn’t Apply to Non-Penny Stock Share Transactions

October 25, 2023 888 Views 0 comment Print

DCIT vs. Krishan Kumar case: ITAT Delhi dismisses appeal by the Department regarding share transaction, ruling it doesn’t fall under the CBDT Circular exception.

Assessee’s Valuation Report cannot be discredited without DVO’s Report

October 25, 2023 723 Views 0 comment Print

In the case of Shekhar Bharti vs. ITO (ITAT Delhi), the article explores how the valuation report was discredited, affecting the tax assessment.

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