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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 Sources (TDS) on Commercial Business Income

Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...

July 17, 2024 1008 Views 0 comment Print

No Incriminating Evidence, No Addition: Delhi High Court’s Ruling

Income Tax : Delhi HC rules in PCIT Vs Pavitra Realcon Pvt. Ltd., ITA 579/2018, emphasizing the need for corroborative evidence in tax assessme...

July 17, 2024 720 Views 0 comment Print

Medical Professional’s Income Under Section 44ADA- Assessment Reopening!

Income Tax : Learn about the Madras High Court's landmark ruling quashing an income tax reassessment notice for a medical professional under Se...

July 16, 2024 6744 Views 2 comments Print

Analysis of Section 87A and 115BAC(1A) of Income Tax Act, 1961

Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...

July 16, 2024 3360 Views 1 comment Print

Budget 2024 – Issues in Presumptive Taxation

Income Tax : Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sectio...

July 16, 2024 4737 Views 0 comment Print


Latest News


Direct Tax Collections for F.Y. 2024-25 as on 11.07.2024

Income Tax : Direct tax collections for FY 2024-25, as of July 11, 2024, show a 23.24% increase compared to FY 2023-24, with notable growth in ...

July 17, 2024 192 Views 0 comment Print

Representation to CBDT to Fix Glitches on Income Tax Portal

Income Tax : KSCAA addresses technical issues in the Income Tax Portal, urging CBDT for prompt resolution to ensure smooth filing of returns be...

July 17, 2024 4137 Views 1 comment Print

Postmortem of Union Budget 2024: A Comprehensive Webinar

Income Tax : Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and inves...

July 16, 2024 3849 Views 3 comments Print

Representation on Income Tax Portal Issues & Section 87A Relief

Income Tax : AGFTC & ITBA urge Finance Minister to address Income Tax Portal issues, incorrect Section 87A relief interpretation, and extend IT...

July 15, 2024 6132 Views 0 comment Print

ICAI Letter to CBDT on Technical Glitches in Income Tax Filing Portal

Income Tax : Read ICAI's concerns about technical glitches in tax filing and payment systems. Understand the impact on taxpayers and solutions ...

July 13, 2024 2511 Views 0 comment Print


Latest Judiciary


CBDT Circulars on Monetary Limits Apply to Pending Appeals: Bombay HC

Income Tax : Bombay High Court decision in CIT Vs Madhukar K. Inamdar H.U.F., addressing applicability of CBDT Circular dated 15-05-2008 on tax...

July 17, 2024 30 Views 0 comment Print

No addition for explained demonetization currency deposited in Bank

Income Tax : In the case of Mewar Hospital Pvt. Ltd. Vs ACIT (ITAT Jodhpur), Bench ruled no addition for explained demonetization currency depo...

July 17, 2024 42 Views 0 comment Print

No Addition if Accounts Supported by Affidavit Remain Uncontroverted: ITAT Jodhpur

Income Tax : Dhanpat Raj Khatri Vs ITO (ITAT Jodhpur) If the explanation based on accounts supported by affidavit is not controverted, no addit...

July 17, 2024 33 Views 0 comment Print

Section 263 revisional order without issuing SCN is void ab initio

Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...

July 17, 2024 42 Views 0 comment Print

Reopening Without New Material & on Mere Change of Opinion invalid

Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...

July 17, 2024 57 Views 0 comment Print


Latest Notifications


Section 10(46) exemption to Uttaranchal Board of Technical Education

Income Tax : Explore the latest Income Tax notification (Notification No. 53/2024) by the Ministry of Finance. Detailed analysis of specified i...

July 15, 2024 87 Views 0 comment Print

Section 138(1)(a) of Income-tax Act: Information Sharing with Telangana Government

Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...

July 9, 2024 300 Views 0 comment Print

Section 138 Notification: Agriculture Production Commissioner, Telangana specified

Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...

July 9, 2024 195 Views 0 comment Print

Guidelines for issuance of notice u/s 148 of the Income Tax Act, 1961

Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...

June 28, 2024 12369 Views 0 comment Print

CBDT Order under DTVsV Act 2020 on acceptance of delayed Payment

Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...

June 27, 2024 903 Views 0 comment Print


ITAT follows principle of consistency; Restricts addition for Bogus Purchase to 3% 

July 9, 2024 534 Views 0 comment Print

Explore the detailed ITAT Mumbai order on Trustar Diamonds appeal against ACIT for A.Y. 2012-13, addressing alleged bogus purchases in the diamond industry.

ITAT deletes addition made by CIT(A) without adequate justification 

July 9, 2024 312 Views 0 comment Print

Read the full text of the ITAT Mumbai order in the case of Krimesh Ramesh Divecha Vs DCIT for A.Y. 2015-16. Understand the assessment details and implications.

Dividend on Donated Shares to Corpus Fund Not Income from Other Sources

July 9, 2024 408 Views 0 comment Print

Explore ITAT Delhi’s ruling on dividend income exemption under section 11 of IT Act 1961. Detailed analysis of judgment against Revenue appeal for AY 2021-22.

Capital Gain cannot be treated as Bogus without any concrete evidence

July 9, 2024 606 Views 0 comment Print

Explore the case of Shaily Prince Goyal vs ITO (ITAT Mumbai) regarding cash credits from penny stock sales. Detailed analysis of Section 10(38), 45, and 69C under Income Tax Act, 1961.

Change in Law or Judgment by Larger Bench Not Grounds for Review

July 9, 2024 366 Views 0 comment Print

Tribunal’s order cannot be recalled based on subsequent judgments, citing DCIT Vs ANI Integrated Services Ltd. Understand implications under Section 254(2) of Income Tax Act.

Gain from Sell of shares of ICL held for over 10 years is Genuine: ITAT Mumbai

July 9, 2024 282 Views 0 comment Print

Read the detailed analysis of Elara India Opportunities Fund Ltd Vs DCIT (ITAT Mumbai) regarding the addition under section 68 of the Income Tax Act on sale of shares of M/s. International Conveyors Ltd.

Notice uploaded on Portal but not mailed: ITAT directs reconsideration of Section 12A & 80G applications

July 9, 2024 417 Views 0 comment Print

Explore the ITAT Delhi’s ruling on Raghunandan Mishra Charitable Trust’s 12A and 80G registration applications. Analysis of CIT(Exemption)’s ex-parte order and IT portal notice issue.

Section 50C not applies to Approved Transfers by Statutory Authorities

July 9, 2024 405 Views 0 comment Print

Section 50C not applies if transfer of capital asset took place as per approval and under the supervision of the statutory authorities and after due process of inviting the public objections in respect of the said transactions.

Section 138(1)(a) of Income-tax Act: Information Sharing with Telangana Government

July 9, 2024 300 Views 0 comment Print

CBDT directs DGIT (Systems) to share income tax information with Telangana’s Agriculture Department as per Section 138(1)(a) of the Income-tax Act, 1961.

Section 138 Notification: Agriculture Production Commissioner, Telangana specified

July 9, 2024 195 Views 0 comment Print

Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designation and its implications explained.

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