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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


USA Taxation, 2024: Updated guidelines for Corporates

Income Tax : Understand USA corporate tax in 2024, including tax rates, filing deadlines, estimated payments, EINs, and penalties. Stay complia...

February 24, 2025 15 Views 0 comment Print

Development Agreement Signing Doesn’t Trigger Capital Gains Tax Without Actual Transfer: Telangana HC

Income Tax : Telangana HC clarified that capital gains tax applies only when ownership or possession is transferred along with consideration....

February 24, 2025 51 Views 0 comment Print

Taxation of Salary: Taxable and Non-Taxable Salary Components

Income Tax : Explore what’s taxable and non-taxable in salary, including allowances, perquisites and deductions. Learn key components and tax...

February 24, 2025 318 Views 0 comment Print

TDS Rate Chart for FY 2025-26 & AY 2026-27

Income Tax : Check the latest TDS rates for FY 2025-26 (AY 2026-27) on salary, interest, rent, and more. Understand applicable thresholds and d...

February 23, 2025 1095 Views 0 comment Print

National Savings Certificate: Taxability and Investment benefits

Income Tax : NSC offers 7.7% interest, tax benefits under Section 80C, and capital security. Learn about its taxability, lock-in period, and in...

February 23, 2025 294 Views 0 comment Print


Latest News


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 8358 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 9951 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 19962 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 1119 Views 0 comment Print

KSCAA Seeks Clarity on Eligibility of Appeals with Delay Condonation under VSVS

Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...

February 15, 2025 162 Views 0 comment Print


Latest Judiciary


Mechanical Section 153D Approval Vitiates Proceedings: ITAT Lucknow

Income Tax : ITAT Lucknow quashed assessments in Shri Navin Jain vs. DCIT, citing mechanical approval under Section 153D. Read key details and ...

February 23, 2025 171 Views 0 comment Print

FTC Denial for mere delayed form 67 submission not justified: ITAT Pune

Income Tax : ITAT Pune rules on Foreign Tax Credit (FTC) in JCIT (OSD) Vs Raj Surendra Mohan Hajela, addressing the delay in Form 67 submission...

February 23, 2025 57 Views 0 comment Print

Section 50C Applies to Land Transfers, Not Land Rights: Karnataka HC

Income Tax : Karnataka High Court ruled on V.S. Chandrashekar vs. ACIT regarding tax treatment of land transactions, applicability of Section 5...

February 23, 2025 189 Views 0 comment Print

Tax Authorities Should Assess Stay Applications Individually, Not Apply Blanket 20% Deposit Rule

Income Tax : Chhattisgarh High Court rules on Aarti Sponge & Power Ltd. vs. ACIT-2(1), addressing the 20% pre-deposit requirement for stay of t...

February 23, 2025 117 Views 0 comment Print

Amortization of Mining Lease Charges Allowed Under Section 35: ITAT Jaipur

Income Tax : Assessee being a subsidiary of M/s. Rajasthan State Mines and Minerals Ltd. (RSMML) (a Government of Rajasthan Undertaking). It en...

February 23, 2025 111 Views 0 comment Print


Latest Notifications


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 21, 2025 8151 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 19, 2025 7359 Views 0 comment Print

Punjab RERA Notified for Income Tax Exemption under Section 10(46A)(b)

Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...

February 13, 2025 876 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 12, 2025 139743 Views 5 comments Print

Income Tax Act: Bhaikaka University Approved for Research

Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...

February 11, 2025 258 Views 0 comment Print


Section 249(4) cannot be invoked In absence of pre-existing liability to pay advance tax 

December 1, 2024 588 Views 0 comment Print

ITAT Hyderabad sets aside CIT(A) order, clarifying that Section 249(4) cannot apply when no advance tax liability exists. Appeal to be reviewed on merits.

ITAT Reduces Commission Income Addition to 0.50%

December 1, 2024 864 Views 0 comment Print

ITAT Surat lowers commission income rate for Nanak Motumal Pherwani to 0.50% on bank transactions, aligning with reasonable industry standards in cheque discounting.

Karnataka HC Quashes high pitched tax demand for not considering genuine hardship

December 1, 2024 456 Views 0 comment Print

Karnataka HC sets aside PCIT’s order on unreasonable tax demand, remanding the case for fresh consideration, including hardship and demand analysis.

ITAT condones Delay in Form 10B Filing due to health issues

December 1, 2024 513 Views 0 comment Print

ITAT Bangalore condones a delay in tax audit filing due to trustee’s illness, directing further assessment per CBDT’s order for tax benefit eligibility.

ITAT Allows Timely Employer PF/ESI Contributions Deduction

December 1, 2024 558 Views 0 comment Print

ITAT Bangalore allows deduction for timely employer PF/ESI contributions in Blue Moon Enterprises case, limiting disallowance to delayed employee contributions.

PAN 2.0: नया PAN कार्ड अपने ईमेल पर फ्री में कैसे प्राप्त करें? जानें पूरी प्रक्रिया

December 1, 2024 2145 Views 0 comment Print

PAN 2.0 का ईमेल पर मुफ्त में आवेदन करें। जानें नया क्यूआर कोड वाला PAN कार्ड पाने की प्रक्रिया। फिजिकल कार्ड के लिए ₹50 शुल्क निर्धारित।

National Leasing Ltd: Rental Income Taxed as Business Income

December 1, 2024 1683 Views 0 comment Print

Bombay HC rules rental income of National Leasing Ltd. should be taxed as business income, overturning ITAT’s decision based on its core business activity.

Rajasthan HC Quashes Reassessment Order in Search Case

December 1, 2024 513 Views 0 comment Print

Rajasthan High Court quashes reassessment order in Shiv Vegpro Pvt. Ltd. case, aligning with precedent in Tirupati Construction Company on pre-01.04.2021 searches.

Calcutta HC Stays Section 148 Notice in Anup Kumar Case

December 1, 2024 2721 Views 0 comment Print

Calcutta High Court stays Section 148 notice against Anup Kumar Agarwal, citing non-compliance with faceless assessment rules under Income Tax Act.

Calcutta HC Stays Section 148 Notice till disposal of writ petition

December 1, 2024 411 Views 0 comment Print

Calcutta High Court stays Section 148 notice against Anand Kumar Agarwal, citing non-compliance with faceless assessment rules under Income Tax Act.

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