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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


Applicability of Audit Report 10BB & Disclosure Requirement In Audit Report

September 29, 2023 21306 Views 0 comment Print

Learn about Form 10BB applicability for trusts, including disclosure requirements like commencement of activities, bookkeeping, and donation reporting, with penalties for non-compliance.

Inadequate Explanation for Appeal Filing Delay – ITAT denies Condonation

September 29, 2023 669 Views 0 comment Print

Read the full text of the ITAT Delhi order regarding Smt. Nidhi Agarwal’s appeal delay and the denial of condonation due to inadequate explanation.

ITAT Directs Re-adjudication for 12AB Registration Denial

September 29, 2023 1257 Views 0 comment Print

In a case involving Section 12AB registration denial, the ITAT orders re-adjudication due to non-consideration of submissions by the trust.

ITAT Issues Corrigendum to Rectify Typographical Errors in Deutsche Asset Management’s Case

September 29, 2023 663 Views 0 comment Print

The Income Tax Appellate Tribunal (ITAT) issues a corrigendum addressing typographical errors in the tribunal order related to Deutsche Asset Management India Pvt Ltd.

Income from Nursery Activities Deemed Agricultural, Not Business Income: ITAT

September 29, 2023 2274 Views 0 comment Print

In the case of Talshibhai B Narola vs. ITO, ITAT Ahmedabad ruled that income from nursery activities growing lawns, flower plants, and vegetable plants is agricultural, not business income.

HC declines to entertain Issues not raised before statutory authority

September 29, 2023 483 Views 0 comment Print

Delhi High Court declines to entertain certain issues raised in appeals due to failure to raise them before the statutory authority.

Kerala High Court directs delay condonation, suspends tax recovery

September 29, 2023 423 Views 0 comment Print

Read the full text of the judgment/order of the Kerala High Court in the case of P R Combines vs. ACIT concerning delay condonation and tax recovery

Kerala HC Quashes Late Fee under Section 234E for Delayed TDS Return

September 29, 2023 1467 Views 0 comment Print

Kerala High Court quashes late fee levied under Section 234E of Income Tax Act for delayed TDS return filing. Explore the case and jurisdictional grounds.

ITAT Delhi Upholds Disallowance of Bad Debt for Non-Business Activity

September 29, 2023 624 Views 0 comment Print

Read full text of ITAT Delhi order in Ajay Kumar vs. ACIT, where disallowance of bad debt was upheld as assessee was not involved in a real estate business

ITAT deletes Section 271(1)(b) Penalty for Notices Sent to Incorrect Address

September 29, 2023 702 Views 0 comment Print

ITAT Jaipur’s decision on Sakku Devi’s penalty u/s 271(1)(b) of the Income Tax Act due to non-compliance with notices sent to an incorrect address.

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