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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


Surcharge Rates in New vs Old Tax Regime: Key Differences

Income Tax : Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and ...

February 25, 2025 33 Views 0 comment Print

New Tax Regime vs. Old Tax Regime: Which is Best in FY 2025-26?

Income Tax : Compare the New and Old Tax Regimes for FY 2025-26. Learn about tax rates, exemptions, deductions, and which regime suits your inc...

February 25, 2025 1692 Views 0 comment Print

Draft Submissions: No Specific Default Date, No Section 271(1)(b) Penalty

Income Tax : Appeal against penalty under Section 271(1)(b) citing ill health, lack of awareness of Faceless Scheme, and procedural lapses. Req...

February 25, 2025 57 Views 0 comment Print

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 276 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 177 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 9144 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 10359 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 20031 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


ITAT Jaipur quashes Section 271D penalty as funds received were advances, not loans

Income Tax : ITAT Jaipur quashes 271D penalty against Balbir Singh, ruling funds received were advances, not loans, after verifying property ow...

February 25, 2025 24 Views 0 comment Print

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 573 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 1812 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 216 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 1113 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 861 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 9204 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 7530 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 140229 Views 5 comments Print


ITAT Directs 6% SBI Rate on Delayed Payments in International Transactions

June 21, 2024 477 Views 0 comment Print

Explore the ITAT Hyderabad’s decision on interest as an international transaction in Clinasia Labs Pvt Ltd vs ITO case. Detailed analysis and conclusions provided.

ITAT allows section 80P(2)(d) deduction for interest income earned from cooperative banks

June 21, 2024 402 Views 0 comment Print

Discover the key rulings in the ITAT Bangalore’s judgment on Totgars’ Co-operative Sale Society Ltd. vs ACIT for the assessment years 2015-2018, focusing on section 80P(2)(d) deductions.

Section 801B(10): Deduction for Housing Projects Not Tied to Separate Approvals for Eligible Units

June 21, 2024 999 Views 0 comment Print

Detailed analysis of Shipra Estate Ltd. & Jai Krishan Estate Developers Pvt. Ltd. vs ACIT case by ITAT Delhi on eligibility for deduction under section 80IB(10) of the Income Tax Act, focusing on the project completion method and built-up area criteria.

Madras HC dismisses Writ against Income Tax Director & Mining Firm

June 21, 2024 420 Views 0 comment Print

Read the detailed judgment of Madras High Court dismissing a writ petition due to lack of locus standi and incomplete parties, involving Income Tax Director and S. R. S. Mining.

Kerala HC Directs ITAT to Expedite Delay Condonation Case

June 21, 2024 528 Views 0 comment Print

Kerala HC directs ITAT to expedite delay condonation application of Paravur Service Co-Operative Bank Ltd., ensuring fair consideration of statutory rights.

Failure to Rely on Binding Decisions Constitutes an Apparent Error: Kerala HC

June 20, 2024 927 Views 0 comment Print

Kerala High Court directs reconsideration of rectification petition in Koluthara Exports Ltd. vs. Union of India case regarding service tax dispute. Full text of the judgment provided.

What is the last date to file ITR for A.Y.2024-25

June 20, 2024 8184 Views 0 comment Print

File your Income Tax Return by July 31, 2024, to avoid late fees and penalties. Learn the important dates, steps, and consequences of missing the ITR filing deadline.

Name of concerned AO can’t be reflected in notice issued u/s 148 in faceless manner: HC

June 20, 2024 1566 Views 0 comment Print

Gauhati High Court rules that AO names cannot be reflected in notices issued under Section 148 in a faceless manner, reaffirming procedures under Section 151A.

Budget Memorandum 2024 & suggested Amendments to Income-tax Act 1961

June 20, 2024 3660 Views 0 comment Print

Explore the Malad Chamber of Tax Consultants’ 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961, aimed at reducing litigation and boosting the economy.

Rajasthan HC dismisses Writ on Reassessment Notice for Participation in Reassessment Proceedings

June 20, 2024 750 Views 0 comment Print

Rajasthan High Court refuses writ jurisdiction on reassessment notice in Smt. Rama Gupta vs DCIT, advising petitioner to pursue appellate remedies.

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