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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


Nil Tax Up To Rs. 12 Lakhs Income (FY 2025-26); Tax Computation With Illustrations & FAQs

Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...

February 11, 2025 3156 Views 0 comment Print

Section 194H Applicability on Commission of E-Commerce Operators

Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...

February 11, 2025 90 Views 0 comment Print

Budget 2025 Amendments to Section 72A: Impact on Tax Loss Carry-Forward

Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...

February 11, 2025 72 Views 0 comment Print

Enhanced Limits for Partners Remuneration: Section 40(b) & 194T

Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...

February 11, 2025 1896 Views 0 comment Print

2 Residential Houses: Income Tax issue simplified in budget 2025-26?

Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...

February 10, 2025 1521 Views 0 comment Print


Latest News


Reminder for Filing TDS Statement 26Q for Q2 FY 2024-25

Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...

February 8, 2025 10395 Views 2 comments Print

Union Cabinet Approves New Income Tax Bill 2025 to Replace 1961 Act

Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...

February 8, 2025 12909 Views 1 comment Print

CBI Files Case Against 3 Tax Officials, 5 CAs for Sabotaging Faceless Tax Scheme

Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...

February 7, 2025 12300 Views 0 comment Print

India’s Tax Arrears Reach ₹42.64 Lakh Crore

Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...

February 6, 2025 42 Views 0 comment Print

Decriminalization of Minor Direct Tax Offenses in India

Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...

February 6, 2025 66 Views 0 comment Print


Latest Judiciary


Compounding of Income Tax Offences for belated Return filings: SC Ruling

Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....

February 11, 2025 3738 Views 0 comment Print

Section 269SS Not Applicable to Broker Acting as Agent or Facilitator of Payment

Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...

February 11, 2025 4050 Views 0 comment Print

Telangana HC Denies Agricultural Income Exemption for Uncultivated Land

Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...

February 11, 2025 189 Views 0 comment Print

SC Upholds Invalidity of Section 153C Notices Lacking Proper Satisfaction Note

Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...

February 11, 2025 675 Views 0 comment Print

Section 153C cannot extend indiscriminately to Multiple AYs: Delhi HC

Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...

February 11, 2025 2841 Views 0 comment Print


Latest Notifications


Income Tax Act: Bhaikaka University Approved for Research

Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...

February 11, 2025 132 Views 0 comment Print

Income Tax Act: Section 285 Notification for Liaison Office Statement Filing

Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...

February 10, 2025 252 Views 0 comment Print

Income-Tax Rule 2F Amended for Infrastructure Debt Funds

Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...

February 7, 2025 258 Views 0 comment Print

CBDT Shares Taxpayer Data for PMGKAY Eligibility

Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...

February 4, 2025 2577 Views 0 comment Print

Finance Bill, 2025 – Budget 2025 (Read Full)

Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...

February 1, 2025 5313 Views 0 comment Print


Notification No. 76/2023-Income Tax Dated: 1st September, 2023

September 1, 2023 2043 Views 0 comment Print

Notification No. 76/2023-Income Tax Dated: 1st September, 2023 under section 10 sub section 46 of Income tax Act 1961 in case of Chhattisgarh, Uttarakhand, Madhya Pradesh, Punjab Real Estate Regulatory Authority. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 76/2023-Income Tax | Dated: 1st September, 2023 S.O. 3865(E).—In exercise of […]

Notification No. 75/2023-Income Tax | Dated: 1st September, 2023

September 1, 2023 1272 Views 0 comment Print

Notification No. 75/2023-Income Tax Dated: 1st September, 2023 under section 10 sub section 46 of Income tax Act 1961 in case of E-Governance Society, Department of Food, Civil Supplies and Consumer Affairs, Himachal Pradesh Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification No. 75/2023-Income Tax Dated: 1st September, 2023 […]

Notification No. 74/2023-Income Tax, Dated: 01.09.2023

September 1, 2023 17031 Views 0 comment Print

Notification No. 74/2023-Income Tax Dated: 1st September, 2023 under section 10 sub section 46 of Income Tax Act 1961 in case of Rajasthan State Dental Council. Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification No. 74/2023-Income Tax | Dated: 1st September, 2023 S.O. 3863(E).—In exercise of the powers conferred […]

TDS u/s 195 not deductible as no income of non-resident is chargeable to tax

September 1, 2023 4998 Views 0 comment Print

Delhi High Court held that since no income chargeable to tax arose in the hands of the non-resident, as per the provisions of the Act, there was no obligation to deduct tax at source under Section 195 of the Act. Accordingly, disallowance u/s 40(a)(i) unjustified.

Software licence fee reimbursement not taxable as no Permanent Establishment in India

September 1, 2023 1275 Views 0 comment Print

ITAT Delhi held that software licence fee received as reimbursement, in absence of a Permanent Establishment in India, is not taxable. Accordingly, addition towards the same deleted.

Existence of business exigency needs to be proved for payments in cash to avoid addition u/s 40A(3)

September 1, 2023 1017 Views 0 comment Print

ITAT Bangalore remanded the matter back to AO for fresh consideration as assessee didn’t proved existence of business exigency in making payment in cash and AO didn’t carried necessary enquiry before making addition u/s 40A(3) of the Income Tax Act.

Addition u/s 68 merely based on suspicion unsustainable

September 1, 2023 1653 Views 1 comment Print

ITAT Mumbai held that addition under section 68 of the Income Tax Act towards unexplained expenditure merely on the basis of suspicion without any other support is unsustainable in law.

Exemption u/s 10(23C)(vi) denied as condition ‘solely for educational purposes’ not fulfilled

September 1, 2023 1419 Views 0 comment Print

ITAT Ahmedabad held that denial of exemption u/s. 10(23C)(vi) of the Income Tax Act justified as assessee trust having multiple objects doesn’t satisfy the condition of ‘solely for educational purposes’.

Denial of registration u/s 12AA to trust genuinely performing object of imparting education unjustified

September 1, 2023 1038 Views 0 comment Print

ITAT Jaipur held that assessee trust under the umbrella of Dayanand Saraswati University, Ajmer is genuinely performing its activities and objects of imparting education to the students coming off from poor or middle class families. Accordingly, denial to register the trust u/s 12AA of the Income Tax Act unjustified.

Prior period Expenses are beyond the scope of Section 154

September 1, 2023 1998 Views 0 comment Print

ITAT Delhi’s verdict on JBJ Technologies Ltd. Vs DCIT: Rectification under Section 154 of Income Tax Act can’t adjust prior period expenses.

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