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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


Donation to Political Parties: Legal Framework & Tax Implications

Income Tax : Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and...

August 16, 2024 546 Views 0 comment Print

Income Tax Calculator Financial Year 2024-25

Income Tax : Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime sugges...

August 16, 2024 33945 Views 21 comments Print

Importance of Show-Cause Notices: Key Insights & Case Laws

Income Tax : Learn the importance of show-cause notices, their legal implications, and how to respond effectively to protect your rights. Explo...

August 16, 2024 381 Views 0 comment Print

Form 10 Submitted Electronically Before Assessment Completion; Reopening Due to Technical Delay Unjustified

Income Tax : Delhi HC quashes reopening of tax assessment, ruling that technical delay in e-filing Form 10 before assessment completion is unju...

August 16, 2024 120 Views 0 comment Print

Income Tax Benefits on Home Loans: What You Need To Know

Income Tax : Learn about income tax deductions on home loans, including benefits under Sections 24, 80C, 80EE, and 80EEA. Understand eligibilit...

August 16, 2024 1230 Views 0 comment Print


Latest News


Direct Tax Collections FY 2024-25 Reach Rs. 6.93 Lakh Crores as on 11.08.2024

Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...

August 13, 2024 255 Views 0 comment Print

Live Course: Handling Faceless Income Tax Assessment with AI Tools like ChatGPT

Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...

August 12, 2024 471 Views 0 comment Print

Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 12, 2024 261 Views 0 comment Print

Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 12, 2024 456 Views 0 comment Print

FAQs on PFA & Defective for ITR 1 to 6 for AY 24-25

Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...

August 10, 2024 3033 Views 0 comment Print


Latest Judiciary


Settlement consideration to be treated as taxable under the head ‘capital gains’: Delhi HC

Income Tax : Delhi HC held that the settlement consideration as received was liable to be recognized as capital gains and the same couldn’t p...

August 17, 2024 105 Views 0 comment Print

Passing of order u/s. 148A(d) on the basis of fresh ground untenable: Delhi HC

Income Tax : Delhi High Court held that passing of order by the revenue under section 148A(d) of the Income Tax Act on the basis of fresh groun...

August 17, 2024 195 Views 0 comment Print

Addition u/s. 68 justified as genuineness of transaction and creditworthiness of creditors not proved: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that genuineness of transaction, creditworthiness and identity of creditors not proved, hence addition u/s. 68...

August 17, 2024 102 Views 0 comment Print

Advance tax payment provisions doesn’t apply in reassessment proceedings: ITAT Indore

Income Tax : ITAT Indore held that rejection of appeal by CIT(A) on the footing of non-payment of advance tax as required by section 249(4)(b) ...

August 17, 2024 90 Views 0 comment Print

Notice u/s. 148 to NRI without following mandatory faceless procedure unsustainable: Telangana HC

Income Tax : Telangana High Court held that notice issued u/s. 148 of the Income Tax Act must comply with the requirement of the Scheme whether...

August 17, 2024 447 Views 0 comment Print


Latest Notifications


Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 2841 Views 0 comment Print

Guidelines for Handling High-Risk PAN Cases in Insight Portal

Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...

August 12, 2024 498 Views 0 comment Print

Income Tax Exemption for UIDAI’s Specified Income 2024-2029

Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...

August 12, 2024 276 Views 0 comment Print

Income Tax Exemption for West Bengal Transport Workers Social Security Scheme

Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...

August 12, 2024 78 Views 0 comment Print

Notification No. 98/2024 Income Tax Exemption for Karnataka Disaster Centre

Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...

August 7, 2024 732 Views 0 comment Print


TDS Section 194T: Key Provisions & Implications for Partnership Firms & LLPs

August 3, 2024 7146 Views 1 comment Print

Discover Section 194T’s new TDS regulations on payments to partners, including salary, commission, and interest. Effective April 2025, learn key provisions and compliance tips.

Can Lowering Tax Rates Compensate for Removing Indexation Benefits?

August 3, 2024 4122 Views 3 comments Print

Explore how the removal of indexation benefits in the Finance Bill 2024 impacts taxpayers, despite lower tax rates on long-term gains. Understand the implications for residents and non-residents.

CBDT Clarifies Verification Conditions Under Section 144B

August 2, 2024 1083 Views 0 comment Print

CBDT issues guidelines for IT verification under Section 144B(5), detailing circumstances for digital and physical checks, effective immediately.

103 Transfers and Postings of Customs and Indirect Taxes Commissioners

August 2, 2024 585 Views 0 comment Print

Office Order No. 125/2024: Immediate transfers and postings of Principal Commissioners and Commissioners in Customs and Indirect Taxes. Check the detailed list here.

Tax Liability on Haircuts under IBC: Clarifications by MCA

August 2, 2024 735 Views 0 comment Print

Learn about the tax implications on haircuts taken by banks and creditors for companies resolved under the Insolvency and Bankruptcy Code, 2016, as clarified by the MCA.

TDS Rate Changes & New Sections in Union Budget 2024

August 1, 2024 4269 Views 0 comment Print

Discover key TDS rate reductions and new sections introduced in Union Budget 2024, including changes for insurance commissions, e-commerce, and more.

Taxation of Alternative Investment Funds (AIFs) – Category I and II

August 1, 2024 597 Views 0 comment Print

Explore the taxation of Alternative Investment Funds (AIFs) in India under Category I and II, including regulations, tax exemptions, and compliance requirements

Foreign Investors and Union Budget, 2024

August 1, 2024 354 Views 0 comment Print

Explore the impact of India Union Budget 2024 on foreign investors, including tax reforms, regulatory changes, and new investment opportunities.

Reporting Requirement of Clause 22 [Amount Covered under section 43B(h)] of Form 3CD

August 1, 2024 5475 Views 1 comment Print

Learn about the amendment to Clause 22 of Form 3CD under Section 43B(h) and its impact on reporting requirements for payments to Micro and Small Enterprises.

Healthy Discussion on Sections 68 & 44AD by CA Micky and CA Mini

August 1, 2024 2427 Views 0 comment Print

Explore the discussion between CA Micky and CA Mini on Sections 68 & 44AD of the Income Tax Act. Learn about unexplained cash credits and presumptive taxation.

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