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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


Kerala HC Quashes IT Department’s delayed Rectification Application

October 22, 2023 303 Views 0 comment Print

Kerala High Court’s ruling on Ramanthali Co-Operative Bank Ltd Vs ITO. The court quashes IT Department’s rectification application filed after a 6-month delay.

Kerala HC Orders ITR Filing Within 1 Month for Belief in Section 80P Exemption

October 22, 2023 405 Views 0 comment Print

Kerala High Court’s ruling in Muvattupuzha Co-Operative Society Ltd Vs ITO. The court directs ITR filing within 1 month for tax exemption belief under Section 80P.

Section 54B Capital Gains Exemption: ITAT remands Matter to AO

October 22, 2023 366 Views 0 comment Print

ITAT Chennai’s ruling in Smt. Nagappan Suganthi Vs ACIT. Non-consideration of evidence on deduction claim u/s 54B and capital gains exemption on sale of agricultural land. Matter remanded to AO.

Supreme Court Grants Interim Bail for Tax Return Finalization

October 22, 2023 462 Views 0 comment Print

The Supreme Court of India grants interim bail to an incarcerated assessee for the purpose of finalizing tax returns under the Income Tax Act and Companies Act.

Cash Deposited out of Earlier Withdrawal is not Undisclosed Income: ITAT

October 22, 2023 3003 Views 0 comment Print

ITAT Ahmedabad clarifies cash deposit source issue in Karan Realty Pvt Ltd vs. ITO case. Analysis of assessment and capital gains matters.

Deduction Allowed for PF & ESI Paid After Due Date due to National Holiday

October 22, 2023 1866 Views 0 comment Print

Delhi High Court’s ruling on deductibility of provident fund and ESI payments made after the due date due to a national holiday. Analysis and implications.

Kerala HC Directs ITO to Decide Rectification Request

October 22, 2023 309 Views 0 comment Print

Kerala High Court directs Income Tax Officer to expedite the consideration of a rectification request after a 4-year delay. Full analysis and implications.

ITAT Deletes Notional Rental Income Addition in Arrears Recovery Litigation

October 22, 2023 186 Views 0 comment Print

ITAT Delhi ruling: DCIT Vs Jah Developers Pvt. Ltd. ITAT deletes addition of notional rental income. Detailed analysis of the case and its implications.

Whether 12AA/12AB Entities Need to file Form 10B/10BB for 10(23C) Exemption?

October 22, 2023 2961 Views 0 comment Print

Learn about exemption possibilities under Sec. 10(23C) for registered educational or medical institutions and the need for Form 10B/10BB. Get clarity on tax implications.

Taxability of income of charitable or religious trusts

October 22, 2023 12963 Views 2 comments Print

Taxability of income of charitable or religious trusts: Learn about relief of the poor, education, yoga, medical relief, preservation of the environment & more.

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