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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 360 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 564 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 570 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 873 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 1512 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 24 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 72 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 24 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 27 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 24 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 27 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 45 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 192 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 99 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 186 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 1011 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


Taxability of Gifts in the Hands of Recipients Simplified

October 21, 2023 20304 Views 12 comments Print

Learn about gift tax rules in India, including exemptions, taxability, and the impact on recipients. Get insights into tax-saving options.

Taxable Salary Income: Old vs. New Regime – Section 115BAC

October 21, 2023 10716 Views 4 comments Print

Explore the calculation of taxable salary income under Section 115BAC. Compare old and new tax regimes, exemptions, deductions, and benefits.

Income Tax Computation for Individuals: Rules and Rates

October 21, 2023 9075 Views 3 comments Print

Optimize your tax liability with comprehensive insights into Income Tax Computation for Individuals. Learn rules, rates, and strategies for effective financial planning. Delve into topics like residential status determination, income heads, deductions, and special tax rates.

Details of business promotion expenditure duly produced and hence disallowance u/s 37 unjustified

October 21, 2023 1374 Views 0 comment Print

ITAT Delhi held that details of business promotion expenditure duly produced and it is also demonstrated that company being FMCG distribution/advertisement expenses for substantial part of expenditure. Accordingly, disallowance u/s 37 of the Income Tax Act unjustified.

Employees’ contribution to Provident Fund allowed as deposited before filing of return

October 21, 2023 1026 Views 0 comment Print

ITAT Mumbai held that amendment to section 36(1)(va) is not applicable to A.Y. 2017-2018. Accordingly, as the employees contribution to provident fund is deposited before the due date u/s. 139(1) of the Act, the same cannot be disallowed.

HC set-aside Form 3 issued under Direct Tax Vivad Se Vishwas Act in Rolls Royce case

October 21, 2023 342 Views 0 comment Print

Delhi High Court grants relief to Rolls Royce in a case against Form 3 issued under the DTVSV Act. Get the full judgment and implications of the decision here.

Deductions and Allowances for Salaried Employees: A Comprehensive Guide

October 21, 2023 18507 Views 0 comment Print

Explore taxability of various allowances, exemptions, and deductions for salaried employees in India. Learn about fully and partially taxable allowances, exemptions for HRA, and deductions under Section 80C and more.

HC Imposes 1.5 Lakh Fine for Obtaining Interim Income Tax Order with Suppressed Facts

October 21, 2023 291 Views 0 comment Print

Calcutta High Court’s strong stance on suppressing material facts in Income Tax proceedings. Learn about the case of Amber Commodeal Pvt. Ltd. vs. ITO and its implications.

‘Agreement to Sell’ Date Property Value Assessed by Stamp Valuation Authority relevant for Section 50C

October 21, 2023 741 Views 0 comment Print

Discover the ITAT Raipur ruling on the assessment of property value under Section 50C of the Income Tax Act. Get insights into the case of DCIT vs. Nitin Gupta.

Tax Treatment on Compulsory Land Acquisition: Rules & Exemptions

October 21, 2023 31671 Views 0 comment Print

Learn about tax implications of land acquisition, including capital gains, TDS, exemptions, and penalties. Understand Section 194LA and Section 10(37).

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