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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


Assessment Proceedings under Section 147 of Income Tax Act 1961

Income Tax : Learn about Income Tax Act Section 147 assessment proceedings: reasons for reopening, notice issuance, objections, assessment proc...

February 25, 2025 42 Views 0 comment Print

Residential Status- ITA vs FEMA

Income Tax : Understand the differences in residential status under the Income Tax Act and FEMA for Indians working abroad. Know tax implicatio...

February 25, 2025 36 Views 0 comment Print

Types of ITR Forms and Their Applicability

Income Tax : Learn which ITR form applies to your income type, residential status, and income limits. A guide to ITR 1, 2, 3, 4, 5, 6, and 7....

February 25, 2025 54 Views 0 comment Print

Businessmen’s Tax Evasion and Impact on India’s Poor

Income Tax : This blog will examine the causes of tax evasion in India, the effects it has on society, and possible remedies to guarantee a mor...

February 25, 2025 582 Views 0 comment Print

How to avoid Capital Gain tax on Sale/transfer of Property?

Income Tax : Capital gain is considered as the gain/profit on sale of property which is arrived at by deducting the Purchase Price from its Sal...

February 25, 2025 1533 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 9006 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 10302 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 20013 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 1179 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 168 Views 0 comment Print


Latest Judiciary


P&H HC Quashes Section 148 Notice issued by AO – Only NFAC Has Authority

Income Tax : Punjab & Haryana HC quashes Section 148 notice issued by jurisdictional AO, ruling that only NFAC has authority under CBDT Circula...

February 25, 2025 324 Views 0 comment Print

P&H HC Quashes Section 148 Notice Issued by AO Instead of NFAC

Income Tax : Punjab & Haryana High Court quashes notice u/s 148 issued by jurisdictional AO, ruling that only NFAC has authority post CBDT Circ...

February 25, 2025 1221 Views 0 comment Print

Mere operational links or subsidiary relationships do not confer PE status: Delhi HC

Income Tax : Delhi High Court examines Nokia Network OY’s Permanent Establishment (PE) status in India, addressing taxation on software reven...

February 24, 2025 171 Views 0 comment Print

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 1053 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 237 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 9042 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 7494 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 888 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 140127 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 264 Views 0 comment Print


Budget 2024: Settlement Payments for Legal Contraventions not Deductible

July 24, 2024 516 Views 0 comment Print

From April 2025, settlement amounts for legal contraventions will not be deductible as business expenses under Section 37 of the Income-tax Act.

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 24, 2024 7788 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Sale of Property in India by an NRI – TDS provisions for Buyers & Sellers

July 24, 2024 216738 Views 57 comments Print

Understand TDS provisions for buyers and sellers in the sale of property in India by an NRI. Get insights into tax rates, implications, and advice for seamless transactions.

Impact of Removing Indexation Benefit on LTCG on House Sale

July 24, 2024 3909 Views 2 comments Print

Budget 2024: Understand how removing indexation can increase taxes on property sales, affect investment decisions, and alter the real estate market.

Angel Tax Abolition in Budget 2024: Impact on Startups and Investors

July 24, 2024 1686 Views 1 comment Print

Explore the recent abolition of Angel Tax in the Finance Bill 2024. Learn about the history, provisions, challenges, and future implications for startups and investors.

Big Changes in Tax Notices: Say Goodbye to Arbitrary Reassessments

July 24, 2024 1305 Views 0 comment Print

Discover the key changes in the Finance Act 2024 affecting income tax assessment and reassessment. Learn about new provisions, implications, and deadlines.

Everything about new TDS section 194T

July 24, 2024 14415 Views 1 comment Print

Section 194T imposes Tax Deducted at Source on certain payments made to partners of a firm, including salary, bonus, commission, interest, or remuneration.

TCS on Luxury goods of value exceeding ten lakh rupees wef 1st January 2025

July 24, 2024 6879 Views 0 comment Print

Budget 2024 proposes TCS on notified luxury goods over 10 lakh rupees from January 2025. Learn about this amendment to widen the tax net.

Budget 2024: Merger of trusts under exemption regime with other trusts

July 24, 2024 2091 Views 0 comment Print

Learn about the merger of trusts under India’s tax exemption regimes as proposed in the Finance Bill 2024. Discover the conditions and implications under new Section 12AC of the Income-tax Act effective from April 1, 2025.

Amendment to Section 11: Inclusion of Clause (23EA), (23ED) & (46B) for Trust Exemptions

July 24, 2024 552 Views 0 comment Print

The Finance Bill 2024 proposes amendments to Section 11 of the Income-tax Act, enabling trusts to claim exemptions under new clauses (23EA), (23ED), and (46B) of Section 10 from April 1, 2025.

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