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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 384 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 1041 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 1596 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 849 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 993 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 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 279 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 237 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 27 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 39 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 27 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 27 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 627 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 9696 Views 0 comment Print


ITAT Pune Upholds Non-Applicability of Section 2(47) for Delayed Possession

October 25, 2023 453 Views 0 comment Print

ITAT Pune case: Delayed possession and unresolved disputes led to non-applicability of Section 2(47), sparing the taxpayer from capital gains tax. Learn more.

Assessee Given One Last Opportunity to Substantiate Case: Rs. 3,000 Cost Imposed for Ignoring Notices

October 25, 2023 516 Views 0 comment Print

ITAT Hyderabad directed CIT (A) NFAC to grant the assessee one last opportunity to substantiate its case with a cost of Rs. 3,000 imposed for ignoring notices.

ITAT ruling on TDS on Casual Labour Expenses

October 25, 2023 11703 Views 0 comment Print

ITAT Delhi’s ruling in Amtech Engineers vs. ITO clarifies that TDS is not applicable under section 194C for casual labor expenses in road construction and crane hiring.

ITAT Allows Depreciation for Textile Spinning Unit Acquired via Bank of Baroda Auction

October 25, 2023 375 Views 0 comment Print

In the Varadaraja Textiles case, ITAT Chennai ruled that depreciation is allowed for a textile spinning unit acquired through an auction sale, disputing the nil cost assessment.

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 762 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 924 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 435 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.

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