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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


Taxation On Online Gambling in India: A Win or Lose for Industry?

Income Tax : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...

March 19, 2025 54 Views 0 comment Print

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 852 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 288 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 3420 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 5301 Views 0 comment Print


Latest News


CBDT Seeks Input on Draft Income Tax Rules & Forms

Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...

March 19, 2025 21 Views 0 comment Print

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 504 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 645 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 105 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 315 Views 0 comment Print


Latest Judiciary


No section 50C Addition during ITR Processing under section 143(1): ITAT Delhi

Income Tax : ITAT Delhi rules that Section 50C adjustments cannot be made under Section 143(1) without referring valuation disputes to the DVO,...

March 19, 2025 42 Views 0 comment Print

No Addition Under Section 69 If Source Declared in Balance Sheet: ITAT Pune

Income Tax : ITAT Pune rules no addition under Section 69 if investment source is disclosed in the balance sheet. Partial relief granted for un...

March 19, 2025 27 Views 0 comment Print

CIT(A) Must Rule on Merits in Co-op Society’s Demonetization Cash Deposit Case: ITAT Cochin

Income Tax : ITAT Cochin remands Thrissur Co-op Society’s demonetization cash deposit case to CIT(A) for a fresh decision on merits after ex-...

March 19, 2025 87 Views 0 comment Print

Addition based on DVO Valuation exceeding Stamp Duty Value was upheld

Income Tax : Addition based on the District Valuation Officer’s (DVO) report, which exceeded the stamp duty value was upheld as  assessee ch...

March 19, 2025 45 Views 0 comment Print

ITAT Cochin Restores Case to CIT(A) for failure to Rule on Merits in Penalty Dispute

Income Tax : ITAT Cochin sends penalty case back to AO as CIT(A) failed to address immunity plea for late Form 28 filing....

March 19, 2025 72 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 3894 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 1101 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 675 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 330 Views 0 comment Print


Penalty Imposed Solely on Estimated Profit Addition is not justified

September 19, 2023 789 Views 0 comment Print

ITAT Mumbai’s ruling on penalty for concealed income based on estimated additions. Analysis of case, legal arguments, and conclusion.

Deduction Allowed for Warranty Expense Provisions Based on Actual Settlement Costs from Prior Years

September 19, 2023 792 Views 0 comment Print

Analysis of ITAT Mumbai’s decision on the deduction allowable for warranty expenses based on actual expenses incurred. Case details and conclusion.

Responded Query During Assessment Implies AO Consideration, Even if Unmentioned in Order

September 19, 2023 960 Views 0 comment Print

Explore the case of Darshana Anand Damle vs. DCIT in the Bombay High Court regarding a land development agreement and its tax implications.

Section 10A Deduction Precedes Set-Off of Carry-Forward Business Loss & Depreciation

September 19, 2023 834 Views 0 comment Print

Read about ITAT Mumbai’s decision in BA Continuum India Private Limited Vs. ITO regarding deduction u/s 10A of Income Tax Act before set-off of business loss and depreciation.

Undisclosed Income Taxed in Flagship Company Not Taxable in Assessee Companies

September 19, 2023 1125 Views 0 comment Print

Discover the Delhi High Court’s ruling in the case of PCIT vs. Surya Agrotech Infrastructure Limited regarding undisclosed income taxation and double taxation.

Direct Tax Collections Show Strong Growth in FY 2023-24

September 18, 2023 1125 Views 0 comment Print

As of September 16, 2023, India’s FY2023-24 Direct Tax collections surge by 18.29%, with net collections up by 23.51%. Advance Tax reaches Rs. 3,55,481 crore.

CBDT Extends Filing Deadlines for Form 10B, 10BB, and ITR-7

September 18, 2023 27498 Views 0 comment Print

Get latest update on CBDT’s extension of filing deadlines for Form 10B, Form 10BB, and ITR-7 for Assessment Year 2023-24. Stay compliant with ease.

Income Tax Practices: Common Mistakes and Solutions

September 18, 2023 4872 Views 0 comment Print

Explore crucial issues in income tax practices, including Section 44AD, TDS obligations, LTCG exemptions, cash deposits, and tax deductions under Section 80G in India.

Understanding Section 43B: MSME Payment Deductions

September 18, 2023 35721 Views 2 comments Print

Delve into the intricacies of Section 43B of the Income Tax Act, a crucial provision impacting deductions in MSME payments. Explore the proposed amendment in the Union Budget 2023 and its implications. Understand the critical points, definitions, and payment timelines outlined in the MSMED Act, 2006. Stay informed to optimize deductions, ensure compliance, and navigate the evolving landscape of income tax calculations. Learn how businesses can align financial planning and tax strategies with the latest legislative changes for maximum benefit.

Confiscatory Nature of Tax: Unveiling Unfair Taxation

September 18, 2023 2259 Views 0 comment Print

Explore concept of confiscatory taxation, its judicial perspective, and how it affects individuals and businesses. Discover key cases and insights into this controversial tax issue.

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