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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


Assessee under Income Tax Act: Types, Rights and Responsibilities

Income Tax : Understand the concept of an assessee under the Income Tax Act, its classifications, roles, responsibilities, and available tax be...

March 5, 2025 153 Views 0 comment Print

Rationalization of Time limits to Impose Income Tax Penalties

Income Tax : Simplified penalty timelines under Section 275 effective April 2025, including changes in penalty powers, omissions, and clarifica...

March 5, 2025 129 Views 0 comment Print

Statutory and Tax Compliance Calendar for March 2025

Income Tax : Stay on top of important compliance deadlines including GST, ESI, PF, SEBI, and Income Tax filings, with detailed due dates and fo...

March 5, 2025 290463 Views 8 comments Print

TDS on Rent for FY 2024-25: Section 194-IB Rate – 5% or 2%?

Income Tax : Confused about the TDS rate on rent under Section 194-IB for FY 2024-25? Learn when to apply 5% or 2% based on the Union Budget 20...

March 5, 2025 1407 Views 0 comment Print

Year-End Tax Checklist: Wrap Up Your Finances by March 31st

Income Tax : Plan your finances before March 31 with this year-end tax checklist. Learn about old vs. new tax regimes, investments, deductions,...

March 4, 2025 2124 Views 0 comment Print


Latest News


Advance Tax Installments/Payments of taxes

Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...

March 5, 2025 3315 Views 0 comment Print

Include ‘Cost Accountant’ in definition of ‘Accountant’ under Income Tax Bill 2025: ICMAI

Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...

February 21, 2025 10368 Views 0 comment Print

Key Highlights of Finance Bill 2025: Income Tax Changes

Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...

February 19, 2025 11427 Views 0 comment Print

ICMAI on Non-inclusion of ‘Cost Accountant’ in Income Tax Bill 2025

Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...

February 17, 2025 20205 Views 3 comments Print

50 Corrections in Income-tax Bill, 2025: Lok Sabha Update

Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...

February 15, 2025 1293 Views 0 comment Print


Latest Judiciary


AO Cannot Add New Income if Reassessment not includes Originally Alleged Escaped Income

Income Tax : Bombay High Court clarifies reassessment under Section 147 of the IT Act in CIT-5 vs. Jet Airways, ruling in favor of the assessee...

March 6, 2025 21 Views 0 comment Print

AO Cannot Reassess Other Income Without Assessing Initial Grounds: Calcutta HC

Income Tax : Calcutta HC dismisses IT department's appeal in CIT vs. Infinity Infotech, ruling reassessment cannot expand beyond recorded reaso...

March 6, 2025 24 Views 0 comment Print

Calcutta HC Dismisses Income Tax Appeal Due to Insolvency Moratorium

Income Tax : Calcutta HC dismisses IT appeal against Subhlabh Steels due to ongoing insolvency under IBC, citing SC ruling in Monnet Ispat. Rea...

March 6, 2025 24 Views 0 comment Print

Interest & Other Income Attributable to Business eligible for Section 80P(2)(a)(i) Deduction

Income Tax : Karnataka HC remands Lalitamba Pattina Souharda Sahakari Niyamita’s case to AO, questioning denial of Section 80P deduction on i...

March 6, 2025 36 Views 0 comment Print

Section 10AA deduction Cannot Be Denied for Late Return in Absence of Explicit Filing Requirement

Income Tax : ITAT Delhi rules in favor of Arvind Kumar Agarwal, allowing Section 10AA deduction despite late return filing. Tribunal highlights...

March 6, 2025 39 Views 0 comment Print


Latest Notifications


Select Committee of Lok Sabha to examine Income-Tax Bill, 2025

Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...

February 25, 2025 399 Views 0 comment Print

CBDT Amends Rules 12CA, 12CC & Forms 10IH, 64A, 64B, 64C, 64D, 64E & 64F

Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...

February 24, 2025 2181 Views 0 comment Print

All about Income Tax / TDS Deduction from Salaries for FY 2024-25

Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...

February 20, 2025 11286 Views 0 comment Print

CBDT extends Due Date for Filing Form 56F for AY 2024-25

Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...

February 18, 2025 8160 Views 0 comment Print

Govt released Income-Tax Bill, 2025 (Download)

Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...

February 13, 2025 141114 Views 5 comments Print


Cash expenditure, exceeding threshold limit u/s section 40A(3), disallowed

June 13, 2022 651 Views 0 comment Print

ACIT Vs Bajrang Bahadur Singh (ITAT Varanasi) Manipulation and falsifying records by making wrong entries to bring itself out of clutches of provisions of section 40A(3) is unsustainable in law. Cash expenditure above threshold limit u/s 40A(3) disallowed Facts- The assessee filed its ROI declaring total income of Rs.64,87,970/-, on 29.09.2012. The assessment was completed […]

Cash Transaction Restrictions on Charitable Trusts under Income Tax

June 13, 2022 219339 Views 2 comments Print

Understand the cash transaction restrictions on charitable trusts under income tax. Learn about the different types of donations and their implications.

Cash Transactions in Agriculture Sector- Income Tax Provisions

June 13, 2022 84867 Views 1 comment Print

Understand the income tax provisions for cash transactions in the agriculture sector. Learn how farmers can protect their interests in sales and auctions.

Section 194N TDS Provisions on Cash Transactions

June 13, 2022 30165 Views 3 comments Print

Understanding Section 194N TDS provisions on cash transactions. Learn who is responsible to deduct tax and who is the payee.

Restrictions on Cash Transactions of Rs. 2 Lacs or More under Income Tax

June 13, 2022 376269 Views 9 comments Print

Understand the restrictions on cash transactions of Rs. 2 lakhs or more under income tax law. Learn about the modes of undertaking transactions and the exceptions.

Section 80D Deduction in respect of health insurance premia

June 13, 2022 52815 Views 8 comments Print

Understand the benefits of Section 80D for health insurance premiums. Learn about the deductions available for insurance on self, spouse, dependent children, and parents.

Restrictions on Cash Transactions in Real Estate under Income Tax

June 13, 2022 141264 Views 0 comment Print

Understanding the restrictions on cash transactions in real estate under income tax laws. Learn how these provisions aim to prevent tax evasion and promote transparency.

TDS Rate Chart for FY 2022-23 / AY 2023-24 – Updated

June 13, 2022 554208 Views 6 comments Print

Explore the updated Income Tax TDS Rate Chart for FY 2022-23 / AY 2023-24. Comprehensive guide covering TDS rates on various incomes as per the Income-tax Act. Stay informed to ensure accurate tax deductions.

Income Tax Rates for Financial Year 2022-23 / AY 2023-24

June 13, 2022 1998210 Views 9 comments Print

Stay informed about the Income Tax Rates for the Financial Year 2022-23 and Assessment Year 2023-24. Explore different tax slabs for individuals, HUFs, companies, and more.

Critical Analysis of Importance of Mutual Agreement Procedure (MAP) In Dispute Resolution

June 13, 2022 4116 Views 0 comment Print

Mutual Agreement Procedure is a dispute resolution mechanism in which taxpayer resorts to solving disputes relating to double taxation-juridical or economic.

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