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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


Addition u/s. 69C unsustainable as nature of expenditure & source explained

September 21, 2023 4407 Views 0 comment Print

ITAT Chennai held that Once, nature of expenditure and source is explained, then the question of making additions towards refund money as unexplained expenditure u/s. 69C of the Income Tax Act does not arise.

Acquiring jurisdiction u/s 153C without satisfaction note is unsustainable in law

September 20, 2023 1860 Views 0 comment Print

ITAT Chennai held that acquiring jurisdiction u/s 153C of the Income Tax Act without fulfilling the requirement of satisfaction note in case of searched person is unsustainable and liable to be quashed.

Collaborative Excellence: Strengthening Client Relations with CA-TDSMAN

September 20, 2023 6843 Views 0 comment Print

Discover how CA-TDSMAN revolutionizes tax compliance for Chartered Accountants and Tax Professionals, fostering seamless collaboration and strengthening client relationships.

HC Orders Fresh Assessment in Absence of Draft Assessment Order U.s, 144B

September 20, 2023 2544 Views 0 comment Print

Read about Madras High Court’s ruling in Devendran Coal International Private Limited Vs ITO. Learn why a fresh assessment order is ordered under Section 144B of Income Tax Act, 1961.

Understanding Section 44ADA: Presumptive Tax for Professionals

September 20, 2023 56076 Views 6 comments Print

Explore Section 44ADA of Income Tax Act, a presumptive taxation scheme for professionals. Learn eligibility, deductions, and implications for freelancers and business owners.

Delayed Remittance of Employee Contribution Funds: ITAT Upholds Disallowance

September 20, 2023 864 Views 0 comment Print

Read the full text of ITAT Mumbai’s order in the case of Krystal Integrated Services Pvt Ltd vs. DCIT regarding delayed ESI remittance.

Sec. 54F Capital Gain Exemption Applies to Overseas Property Purchase Pre-2014 Amendment

September 20, 2023 1896 Views 0 comment Print

Discover how ITAT Mumbai’s recent ruling affects capital gain exemption under section 54F for properties purchased outside India.

No Income Tax Addition for Assessee Proving Source of Cash Deposits During Demonetization

September 20, 2023 1896 Views 0 comment Print

Read the detailed analysis of DCIT Vs Bhanu Infrabuild Pvt Ltd (ITAT Delhi) case. No income tax addition if source of cash deposits during demonetization is proven.

ITAT Deletes Addition: AO Can’t Curtail Expenditure Without Evidence of Fraud

September 20, 2023 732 Views 0 comment Print

Trak Services (P) Ltd. vs. ITO (ITAT Delhi) – Analysis of ITAT’s order deleting addition on sale consideration of shares. AO’s role and legal references discussed.

Delay in Govt Auditor’s Audit Report Doesn’t Deny U/S 80P Deduction

September 20, 2023 1365 Views 0 comment Print

Uttam Dairy Staff Co-operative Credit & Supply Society vs. AO – ITAT Ahmedabad upheld deduction under Section 80P despite delayed filing due to Govt. Auditor. Analysis here.

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