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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 156 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 729 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 486 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 1617 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 369 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 258 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 597 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 786 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 357 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 153 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 132 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 156 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 231 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 45 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 4497 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 711 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


How an Association of Persons will be taxed

April 24, 2023 46983 Views 1 comment Print

AOP whether incorporated or not is treated as a person under section 2(31)​ of Income tax Act & is treated as separate entity for Assessment

Salary Structure & Income Tax – A Useful Article for HR & IT Professionals

April 23, 2023 148512 Views 3 comments Print

Explore the intricacies of salary structures and income tax implications in this comprehensive guide. A valuable resource for HR and IT professionals, offering insights into tax exemptions, CTC calculations, and the impact of new wage codes.

Rs. 20000 Limit under section 269SS & 269T is person wise

April 23, 2023 4647 Views 0 comment Print

ITAT Jaipur rules in favor of Shri Deepak Mata, deleting penalties under Sections 271E and 271D for loan transactions below Rs.20,000 threshold.

ITAT restores matter to CIT(E) as his order was non-speaking order

April 23, 2023 1020 Views 0 comment Print

CIT(E)’s order is also a non-speaking one to this extent we deem it appropriate to restore the assessee’s substantive grievance back to the very authority for appropriate adjudication as per law

No Denial of FTC for non-filing of Form No. 67

April 23, 2023 1275 Views 0 comment Print

Filing of Form No. 67 under Rules 128 of Income Tax Rules is a procedural requirement, therefore, is a directory in nature, non-compliance thereof does not disentitled assessee in claiming Foreign Tax Credit (FTC)

Depreciation allowed in initial years, cannot be disturbed in subsequent years

April 23, 2023 693 Views 0 comment Print

If in the initial year of claim the depreciation, is allowed, the claim cannot be disturbed in the subsequent years

Section 54B exemption eligible on Agricultural Property purchased against Advance of Agricultural Property Sale

April 23, 2023 1422 Views 0 comment Print

Assessee should be allowed benefit of deduction under section 54B of Act since purchase in new property has been made out of advances received towards sale of agricultural properties held by assessee.

No Service Tax on service provided by the club to its members

April 23, 2023 708 Views 0 comment Print

CESTAT Ahmedabad rules MPC Gymkhana not liable for service tax on short-term accommodation charges, following Supreme Court’s CALCUTTA CLUB LTD. judgment.

ITAT condoned delay due to Dire Financial Stress & Difficulties – Remanded matter back to CIT(A)

April 23, 2023 495 Views 0 comment Print

ITAT Chennai rules in favor of First STP Pvt. Ltd., restoring matters to CIT(A) and AO for fresh adjudication due to missed opportunities and severe stress.

Section 143(3) order invalid if Passed without Issuing Section 143(2) notice

April 23, 2023 4032 Views 0 comment Print

ITAT held that assessment order is bad in law as assessing authority passed order u/s 143(3) without issuing mandatory notice u/s 143(2)

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