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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 174 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 99 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 150 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 657 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 1842 Views 1 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 9075 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 10329 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 20022 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 1182 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 414 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 1566 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 201 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 1086 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 243 Views 0 comment Print


Latest Notifications


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 25, 2025 648 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 21, 2025 9114 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 7512 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 891 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 140205 Views 5 comments Print


AO Cannot Reopen Assessments U/s. 153A Without Incriminating Evidence: Kerala HC

June 26, 2024 513 Views 0 comment Print

Read the Kerala High Court judgment on income tax assessments involving Sunny Jacob Jewellers. Analysis includes AO’s authority under Section 153A, impact of incriminating materials, and appellate decisions.

Section 263 revisionary power can’t be invoked solely on improper inquiry allegations

June 26, 2024 417 Views 0 comment Print

Detailed analysis of Dharam Singh Vs PCIT (ITAT Delhi) case where ITAT Delhi ruled that revisionary power can’t be invoked solely on improper inquiry allegations by AO.

It’s Government’s Prerogative to Set Income Limit for Earned Leave Salary Exemption: Kerala HC

June 25, 2024 525 Views 0 comment Print

Kerala High Court decision on R. Jayakumar vs Union of India regarding retrospective tax exemption on earned leave salary.

Procedural lapses in filing Form 67 do not justify disallowing of FTC: ITAT Delhi

June 25, 2024 633 Views 0 comment Print

Detailed analysis of the ITAT Delhi order on Isha Mago vs ADIT, focusing on the appeal regarding disallowance of foreign tax credit due to late filing of Form 67.

Rule 128(9) not provide for disallowance of FTC in case of delay in form 67 filing

June 25, 2024 687 Views 0 comment Print

Explore the ITAT Delhi’s ruling in Rameshwar Prasad Shrivastava vs ITO, detailing the disallowance of foreign tax credit due to procedural lapses, implications under DTAA, and judicial precedents.

An erroneous assessment ignoring binding SC judgments warrants rectification

June 25, 2024 774 Views 0 comment Print

Read the detailed Kerala High Court judgment in Poonjar Service Co-Operative Bank Ltd. vs ITO regarding tax assessment for 2018-19 under Section 80P of Income Tax Act. Understand implications and legal analysis.

Income Tax Addition cannot Be based Solely on unsubstantiated Loose Slips

June 25, 2024 2010 Views 0 comment Print

The ITAT Bangalore ruled that income tax additions can’t be based solely on unsubstantiated loose slips, emphasizing the need for corroborative material evidence.

Benchmarking Managerial Compensation in UAE: Understanding Transfer Pricing Framework

June 25, 2024 1938 Views 0 comment Print

Understand the UAE’s transfer pricing framework and benchmarks for managerial compensation under the new corporate tax law. Ensure compliance with Article 36 requirements.

Alleged Bogus LTCG: AO’s Non-Addition Not Automatically makes order Erroneous

June 25, 2024 723 Views 0 comment Print

ITAT Jaipur rules that AO’s non-addition of bogus LTCG does not make the order automatically erroneous. Detailed analysis of Vipul Kumar Modi vs PCIT case.

Section 14A disallowance based on presumptions of earning dividend income in future is unsustainable 

June 25, 2024 354 Views 0 comment Print

Read the detailed analysis of Zodiac Ventures Ltd. vs. ITO case by Mumbai ITAT regarding income tax disallowance based on presumptions of future dividend earnings. Full text of the ITAT order included.

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