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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


Analysis of Impact & Effectiveness of Bilateral Investment Treaties

Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...

March 20, 2025 123 Views 0 comment Print

Deductions Under Section 57 of Income Tax Act, 1961

Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...

March 19, 2025 669 Views 0 comment Print

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 477 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 1578 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 366 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 252 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 591 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 771 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 108 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 354 Views 0 comment Print


Latest Judiciary


ITAT Dismisses Revenue’s Appeal as Tax effect was Below Rs. 60 Lakh

Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...

March 20, 2025 303 Views 0 comment Print

ITAT upholds Section 263 revision order, treating VRS benefits as taxable

Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...

March 20, 2025 129 Views 0 comment Print

Non-Resident Can’t Be Expected to Monitor Tax Portal After 8 Years, HC Sets Aside Assessment Order for Improper Notice

Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...

March 20, 2025 108 Views 0 comment Print

Section 245 Income Tax refund adjustments must adhere to principles of natural justice

Income Tax : Bombay HC quashed Trent Ltd.’s tax refund adjustment under Section 245 of the IT Act, citing a violation of natural justice. Rev...

March 20, 2025 129 Views 0 comment Print

Tax reassessment based on a cancelled PAN was invalid: ITAT Pune

Income Tax : ITAT Pune dismisses revenue appeal, upholding CIT(A)'s decision that a tax reassessment based on a cancelled PAN was invalid....

March 20, 2025 198 Views 0 comment Print


Latest Notifications


CBDT allows data sharing with Delhi’s IT Dept. for social welfare scheme identification

Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...

March 19, 2025 42 Views 0 comment Print

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 4479 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 1122 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 708 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 660 Views 0 comment Print


Reopening of assessment before disposing of objections filed by assessee is unsustainable

July 18, 2023 1713 Views 0 comment Print

ITAT Mumbai held that reopening of assessment prior to disposing of the objections filed by the assessee is unsustainable and bad-in-law.

Rejection of books of accounts merely because of lower gross profit rate is unsustainable

July 18, 2023 1893 Views 0 comment Print

Explore the ITAT Pune ruling on ACIT vs. Omshree Agrotech. Learn why rejection of books under section 145(3) based on gross profit rates is deemed unjustified.

Amendment to Income-tax rule 11UAC – Relocation of Fund & Movable Property

July 18, 2023 2466 Views 0 comment Print

Ministry of Finance amends rule 11UAC of Income-tax Rules 1962, specifically addressing the relocation of funds and movable property  vide Notification No. 51/2023-Income Tax | Dated: 18th July, 2023. Under the Income-tax (Thirteenth Amendment) Rules 2023, a new sub-rule has been inserted in rule 11UAC. This sub-rule pertains to movable property, such as shares or […]

No TDS on amount paid by resident to non-resident for resale of computer software through EULA agreements

July 18, 2023 11619 Views 0 comment Print

ITAT Delhi held that amounts paid by resident Indian to non­resident computer software manufacturers/suppliers, as consideration for the resale/use of the computer software through EULAs/distribution agreements, is not the payment of royalty and hence not taxable in India. Hence, TDS u/s. 195 not deductible.

Enhancement by CIT(A) without providing opportunity to assessee is unsustainable

July 18, 2023 471 Views 0 comment Print

ITAT Delhi held that enhancement by CIT(A) without providing reasonable opportunity of showing cause against the proposed enhancement to the Assessee is unsustainable in law.

Section 12A: Voluntary Corpus Contribution by Unregistered Trust Not Taxable

July 18, 2023 2475 Views 0 comment Print

ITAT Ahmedabad rules that voluntary contributions received towards a trust’s corpus by an unregistered trust under Section 12A are capital receipts and therefore, not taxable. Explore more about this landmark decision.

Non-Filing of Audit Report (Form 10B) Not an Impediment for Exemption Claims

July 18, 2023 11709 Views 0 comment Print

Detailed analysis of the ITAT Ahmedabad’s ruling in the Hari Gyan Pracharak Trust Vs DCIT case, highlighting the importance of procedural and substantive aspects of audit report filing.

ITAT Deletes Penalty under Section 272A(1)(d) for Technological Illiteracy and Third-Party Negligence

July 17, 2023 14886 Views 0 comment Print

Understand the landmark case of Maqsood Ali Vs ITO, where the Income Tax Appellate Tribunal (ITAT) in Delhi ruled against imposing a penalty under section 272A(1)(d) for non-compliance of statutory notices given reasonable cause.

ITAT Dismisses Appeal as Defective due to Continuous Absence of assessee

July 17, 2023 972 Views 0 comment Print

Get an in-depth analysis of the ITAT Delhi case, where the appeal filed by Geetu Kamra was dismissed due to her continuous absence and non-compliance with court directives.

Debt Mutual Funds: Taxation, Returns and Benefits

July 17, 2023 10704 Views 1 comment Print

Learn about debt mutual funds, their taxation, and how investors earn returns through dividends and capital gains. Explore the factors that determine tax on debt mutual funds and discover why they can still be a great investment option compared to fixed deposits.

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