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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


Tax deduction at Sources (TDS) on Commercial Business Income

Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...

July 17, 2024 1200 Views 0 comment Print

No Incriminating Evidence, No Addition: Delhi High Court’s Ruling

Income Tax : Delhi HC rules in PCIT Vs Pavitra Realcon Pvt. Ltd., ITA 579/2018, emphasizing the need for corroborative evidence in tax assessme...

July 17, 2024 771 Views 0 comment Print

Medical Professional’s Income Under Section 44ADA- Assessment Reopening!

Income Tax : Learn about the Madras High Court's landmark ruling quashing an income tax reassessment notice for a medical professional under Se...

July 16, 2024 6939 Views 2 comments Print

Analysis of Section 87A and 115BAC(1A) of Income Tax Act, 1961

Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...

July 16, 2024 3600 Views 1 comment Print

Budget 2024 – Issues in Presumptive Taxation

Income Tax : Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sectio...

July 16, 2024 4821 Views 0 comment Print


Latest News


Postmortem of Union Budget 2024: A Comprehensive Webinar

Income Tax : Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and inves...

July 18, 2024 3924 Views 3 comments Print

Representation to CBDT to Fix Glitches on Income Tax Portal

Income Tax : KSCAA addresses technical issues in the Income Tax Portal, urging CBDT for prompt resolution to ensure smooth filing of returns be...

July 17, 2024 4458 Views 1 comment Print

Direct Tax Collections for F.Y. 2024-25 as on 11.07.2024

Income Tax : Direct tax collections for FY 2024-25, as of July 11, 2024, show a 23.24% increase compared to FY 2023-24, with notable growth in ...

July 17, 2024 240 Views 0 comment Print

Representation on Income Tax Portal Issues & Section 87A Relief

Income Tax : AGFTC & ITBA urge Finance Minister to address Income Tax Portal issues, incorrect Section 87A relief interpretation, and extend IT...

July 15, 2024 6255 Views 0 comment Print

ICAI Letter to CBDT on Technical Glitches in Income Tax Filing Portal

Income Tax : Read ICAI's concerns about technical glitches in tax filing and payment systems. Understand the impact on taxpayers and solutions ...

July 13, 2024 2544 Views 0 comment Print


Latest Judiciary


TDS not deductible on Payments which become Taxable Due to Retrospective Amendment

Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...

July 18, 2024 45 Views 0 comment Print

No penalty for cash loan from Directors for Business Exigency: ITAT Chennai

Income Tax : Read the detailed analysis of ITAT Chennai's decision on penalties under sections 269SS and 269T for Pearl Beach Promoters P. Ltd....

July 18, 2024 84 Views 0 comment Print

ITAT Upholds Section 56(2) Addition for Property Purchase Without Consideration

Income Tax : Read the detailed analysis of Indira Ramaiah Vs ITO case by ITAT Bangalore. ITAT upheld the addition of gift for undisclosed inves...

July 18, 2024 99 Views 0 comment Print

Section 56(2)(viib) Not Apply to Shares Allotted at Premium to Holding Company

Income Tax : Read the full text of the ITAT Delhi order on Sec 56(2)(viib) and its implications for premium amounts on shares issued to holding...

July 18, 2024 51 Views 0 comment Print

Assessment Order Passed after allowing only 2 Days to respond to SCN not Sustainable

Income Tax : In this case, Gudiyatham Muniraj Ashokkumaran challenged an assessment order, citing breach of natural justice principles due to i...

July 18, 2024 60 Views 0 comment Print


Latest Notifications


Section 10(46) exemption to Uttaranchal Board of Technical Education

Income Tax : Explore the latest Income Tax notification (Notification No. 53/2024) by the Ministry of Finance. Detailed analysis of specified i...

July 15, 2024 117 Views 0 comment Print

Section 138(1)(a) of Income-tax Act: Information Sharing with Telangana Government

Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...

July 9, 2024 309 Views 0 comment Print

Section 138 Notification: Agriculture Production Commissioner, Telangana specified

Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...

July 9, 2024 201 Views 0 comment Print

Guidelines for issuance of notice u/s 148 of the Income Tax Act, 1961

Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...

June 28, 2024 12393 Views 0 comment Print

CBDT Order under DTVsV Act 2020 on acceptance of delayed Payment

Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...

June 27, 2024 906 Views 0 comment Print


Section 80P(2)(d) deduction on interest/dividend income out of investments with co-op society

June 15, 2024 492 Views 0 comment Print

Learn about the ITAT Bangalore ruling allowing deduction claims for interest earned from credit facilities extended to members by Chokkadi Vyavasaya Seva Sahakari Bank.

ITAT quashes order rejecting Section 80G registration application (Form 10AB)

June 15, 2024 519 Views 0 comment Print

CBDT extends Form 10AB filing to 30.06.2024. ITAT Chennai rules in favor of Earth Trust, setting aside CIT(E) order canceling registration u/s 12AB.

Reassessment notice invalid if petitioner was not provided with complete details

June 15, 2024 483 Views 0 comment Print

Allahabad High Court deems reassessment notice invalid as petitioner wasn’t informed about cash deposits from M/s Agarwal Bullion. Read the detailed analysis here.

Delhi ITAT Quashes Reassessment for Non Receipt of Information at the time of Issuance of Section 148 Notice

June 15, 2024 525 Views 0 comment Print

Santosh Khunteta vs. ITO (ITAT Delhi): Appeal on reassessment order for AY 2010-11. Key grounds include validity of notice and reassessment jurisdiction.

ITAT direct release of seized cash & Criticizes AO & CCIT for frivolous appeal

June 15, 2024 252 Views 0 comment Print

Read the detailed analysis of ITAT Delhi’s decision to delete the income tax addition of Rs. 89 lakhs seized by CBI from Eldeco Infrastructure & Properties Ltd.

Taxpayer Wins Legal Battle Over Illegal Auction for 1947-48 Assessment Year After 45 Years

June 15, 2024 1530 Views 0 comment Print

Gokal Chand Rattan Chand vs. Union of India: Detailed analysis of Punjab & Haryana High Court’s judgment on non-existent tax order & auction.

ITAT quahses Section 270A Penalty Despite Non-Filing of Return for Capital Gains on Property

June 15, 2024 930 Views 0 comment Print

Understand the implications of the Parulben Vijaykumar Patel vs ITO case from ITAT Ahmedabad. Detailed analysis and conclusion provided.

Section 80IAB deduction eligible on interest income on FDs linked to SEZ business operations

June 15, 2024 519 Views 0 comment Print

ITAT Delhi rules interest income on FDs linked to SEZ business operations is deductible under Section 80IAB. Analysis of Candor Gurgaon One Realty vs ACIT case.

Calcutta HC Stays Section 148 IT Notice Due to Limitation and Pending Appeal

June 14, 2024 1716 Views 0 comment Print

Calcutta High Court stays Section 148 notice for 2016-17 due to limitation issues and pending appeal. Jurisdictional conflicts lead to stay on further proceedings.

Income Tax Notice – Online Verification and Authentication

June 14, 2024 2250 Views 0 comment Print

Understand income tax notices, their reasons, and how to respond. Learn to authenticate notices online and avoid penalties with timely action and compliance.

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