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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 90 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 1872 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 66 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 294 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 192 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 9189 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 10368 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 20034 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 54 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 621 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 1902 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 222 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 1116 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 879 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 9234 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 7545 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 140241 Views 5 comments Print


Don’t Slip in this Income Tax Cum Rainy Season!!

June 17, 2024 753 Views 0 comment Print

Prepare for the Income Tax Season amidst the rainy season with these essential tips. Ensure timely filing and accuracy in your ITR to avoid penalties. Read more!

Moonlighting Income: Income Tax Return filing guide for Moonlighters

June 17, 2024 2889 Views 0 comment Print

Navigate moonlighting taxes efficiently. Learn how to file ITR, manage extra income, and avoid penalties in our comprehensive guide for moonlighters in India.

Representation on Equitable Allocation of Tax Audit Assignments

June 17, 2024 2550 Views 1 comment Print

Read CAASs recommendations for fair tax audit allocation, ensuring auditor independence and quality. They suggested automated allotment and fee structuring under ICAI.

Interest from SBI Investments Ineligible for Section 80P(2)(a)(i) Deduction

June 16, 2024 630 Views 0 comment Print

ITAT Bangalore rules interest income from SBI investments not eligible for deduction under Section 80P. Full analysis of Farmers Coop Society vs ITO case.

ITAT Kolkata Grants section 80G(5)(iii) registration to Income Tax Bar Association

June 16, 2024 714 Views 0 comment Print

ITAT Kolkata grants exemption registration to Income Tax Bar Association Calcutta, overturning CIT’s decision. Read the full details of the tribunal’s order here.

RPM is most appropriate method When No Value Addition Before Resale

June 16, 2024 1086 Views 0 comment Print

ITAT Delhi rules RPM as the best method for benchmarking solar goods purchases in the D Light Energy P. Ltd. vs Assessing Officer case. Read the detailed analysis.

Income Tax Notices Sent to Old Address Without Evidence of Service: ITAT Deletes Section 271(1)(b) Penalty

June 16, 2024 2865 Views 0 comment Print

Read the detailed analysis of Sumit Maheshwari Vs ITO case where ITAT Delhi deletes penalty u/s 271(1)(b) of Income Tax Act due to failure in serving notice.

Section 80P(2)(d) deduction not eligible on Interest Income from KDCC Bank

June 16, 2024 861 Views 0 comment Print

Read the detailed analysis of Laxminarayana Suvarna Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore) on the eligibility of interest income from KDCC Bank for deduction under Section 80P(2)(a)(i) of the Income Tax Act.

घर में सोने की मात्रा: परिवार की हैसियत का महत्व

June 16, 2024 2916 Views 0 comment Print

दिल्ली आयकर प्राधिकरण ने माना कि परिवार की हैसियत और माता-पिता के पास रखा सोना मान्य हो सकता है, भले ही वह आयकर सर्कुलर की सीमा से अधिक हो।

Taxation of Surplus from Zero-Coupon NCDs: Interest or Capital Gains?

June 15, 2024 2442 Views 0 comment Print

Understand the tax implications of surplus on redemption of zero-coupon NCDs: Is it interest income or capital gains? Learn from recent rulings and expert analysis.

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