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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


New Section 194T TDS Rules: Impact on Taxpayers, Effective April 2025

Income Tax : New TDS Rules Under Section 194T: Impact on Taxpayers & Businesses – Effective from 1st April 2025 Introduction The Finance ...

March 18, 2025 408 Views 0 comment Print

AI, Automation, Recession, and Income Tax Law in India

Income Tax : Explore the economic impact of AI, automation, and recession on India. Understand how income tax laws may evolve to address unempl...

March 18, 2025 219 Views 0 comment Print

Key Tax Tasks to Complete Before March 31, 2025

Income Tax : Ensure tax compliance before March 31, 2025. Key tasks include filing returns, verifying TDS, updating accounts, and making necess...

March 18, 2025 2748 Views 0 comment Print

Key Income Tax Changes for Partnership Firms Starting April 1, 2025

Income Tax : Partnership firms must comply with new tax rules from April 1, 2025. Changes include higher partner remuneration limits and mandat...

March 18, 2025 4683 Views 0 comment Print

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 4800 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 435 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 582 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 102 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 300 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 102 Views 0 comment Print


Latest Judiciary


Service of notice through ITBA portal is not valid service: ITAT Cochin

Income Tax : ITAT Cochin rules that income tax notices via ITBA portal are invalid, remands Narayana Sales' business expense disallowance case ...

March 19, 2025 9 Views 0 comment Print

P&H HC condones delay in GST appeal due to medical & financial hardships

Income Tax : Punjab and Haryana HC condones delay in GST appeal due to petitioner’s medical and financial hardships, directing fair hearing o...

March 19, 2025 15 Views 0 comment Print

Section 12AA registration cannot be denied for typographical errors: ITAT Pune

Income Tax : ITAT Pune rules that Section 12AA registration cannot be denied for typographical errors in application, ensuring fair opportunity...

March 19, 2025 18 Views 0 comment Print

Bogus Purchases addition: ITAT dismisses delayed appeal Without Condonation Request

Income Tax : ITAT Raipur dismisses appeal against ₹81.44 lakh addition for alleged bogus purchases due to a 125-day delay without a condonati...

March 19, 2025 30 Views 0 comment Print

ITAT Grants Assessee Opportunity to Present Case on Merits After Ex-Parte Orders

Income Tax : ITAT Kolkata remands Pashupati Dealcom’s case to AO after ex-parte orders resulted from an accountant's unnotified exit, affecti...

March 19, 2025 27 Views 0 comment Print


Latest Notifications


CBDT FAQs on Revised Guidelines for Compounding Offences

Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...

March 18, 2025 3498 Views 0 comment Print

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 1086 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 666 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 651 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 327 Views 0 comment Print


Other method in rule 10AB is most appropriate method in case of royalty transactions

September 30, 2023 1575 Views 0 comment Print

ITAT Mumbai held that “other method” provided in Rule 10AB r.w.s. 92C (1) would be a good substitute for CUP as there is lack of reliable comparables in case of royalty transactions as royalty payments have been made for unique intangibles

Dividend received by company having PE in Oman is not taxable in India

September 30, 2023 798 Views 0 comment Print

Supreme Court held that dividend received by the Indian company having permanent establishment in Oman is not taxable in India in terms of Article 25 read with Article 8 (bis) of the Omani Tax Laws

Section 271(1)(c) penalty cannot be imposed merely for incorrect income head treatment

September 30, 2023 20643 Views 0 comment Print

In a significant decision, ITAT Mumbai rules in favor of D.C. Polyester Ltd., stating that penalties under Section 271(1)(c) of the Income Tax Act cannot be imposed for incorrect income head treatment.

No Section 14A Disallowance if Assessee has Surplus Interest-Free Funds Exceeding Exempt Income Investments

September 30, 2023 1035 Views 0 comment Print

Aditya Birla Nuvo Limited receives relief as ITAT Mumbai rules that investments yielding exempt income must be considered for disallowance under Rule 8D(2).

Income Surrendered During Survey Not Taxable at 60% under Section 115BBE

September 30, 2023 2829 Views 0 comment Print

ITAT Delhi quashes revision order, ruling that additional income surrendered during survey proceedings should not be taxed at 60% under Section 115BBE of the Income Tax Act.

No Section 44ADA Addition for Consultancy Income by 10th-Passed Assessee

September 30, 2023 13749 Views 0 comment Print

ITAT Mumbai rules that income earned from a consultancy business, even with TDS deductions, should not be taxed under Section 44ADA of the Income Tax Act.

No Section 14A Disallowance of Expenditure for Stock-in-Trade Securities

September 30, 2023 639 Views 0 comment Print

ITAT Mumbai grants relief to Central Bank of India, disallowing expenditure under Section 14A for securities held as stock-in-trade, citing the Maxopp Investment Ltd case.

ITAT upheld Section 147 reopening as AO had tangible material in his possession

September 30, 2023 414 Views 0 comment Print

In the case of Lakshman Tools Pvt. Ltd. Vs. ITO (ITAT Delhi), learn about the validity of Section 147 application, non-genuine purchases, and commission payments.

ITAT Grants Section 12AA Registration for Trust’s COVID-19 Relief Activities

September 30, 2023 264 Views 0 comment Print

In a recent case, ITAT Pune grants 12AA registration to Kanojiya Pardeshi Dhobi Trust, allowing its charitable activities during COVID-19. Full order analysis.

No Section 271B Penalty without Assessee’s Reasonable Opportunity to be Heard

September 30, 2023 858 Views 0 comment Print

In a landmark decision, ITAT Mumbai rules in favor of Evermore Polymer Systems Ltd., stating that penalties under Section 271B require a reasonable opportunity to be heard.

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