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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 480 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 1053 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 1641 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 855 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 999 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 9 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 297 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 246 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 30 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 42 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 30 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 30 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 9699 Views 0 comment Print


CBDT notifies ‘Punjab Nurses Registration Council’ under section 10(46)

September 29, 2023 291 Views 0 comment Print

CBDT’s latest notification (No. 84/2023) on ‘Punjab Nurses Registration Council’ clarifies its tax-exempt status for specific income sources. Details here.

CBDT notifies Rule 21AHA & FORM No. 10-IFA for Section 115BAE(5) Option

September 29, 2023 1668 Views 0 comment Print

CBDT introduces Rule 21AHA & Form 10-IFA for exercising option under Section 115BAE(5) of Income Tax Act, 1961. Learn the rules, process, and significance.

Defect Rectified Under Section 139(9) Validates Original Return from its filing date

September 29, 2023 3603 Views 0 comment Print

ITAT Kolkata held that when original return filed was defective and such defect is removed u/s. 139(9) of the Income Tax Act, the return filed u/s. 139(1) becomes a valid return from the date when it was originally filed. Accordingly, set off business income with carry forwarded business loss allowed.

Reopening u/s 148 fails as was based on material which no longer exists as being legally incorrect

September 29, 2023 762 Views 0 comment Print

ITAT Mumbai held that the material/information on which AO have re-opened the assessment is no longer existing being legally incorrect. Hence, action of AO to have issued notice of re-opening of assessment u/s 148 of the Act itself fails.

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 666 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 2280 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 486 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.

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