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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 120 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 1947 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 69 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 201 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 9213 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 10371 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 72 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 633 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 1971 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 1122 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 891 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 9270 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 7554 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 894 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 140256 Views 5 comments Print


NSE’s Core SGF Contribution is allowable expense, not Contingency Reserve

March 28, 2024 549 Views 0 comment Print

Discover the detailed analysis of the case National Stock Exchange of India vs. DCIT where ITAT Mumbai ruled that NSE’s contribution to Core SGF is not considered a contingency reserve.

आईटीआर यू के द्वारा आयकर रिटर्न

March 28, 2024 1527 Views 0 comment Print

जानिए कैसे आईटीआर यू के माध्यम से करदाताओं को आयकर रिटर्न भरने की सुविधा मिलती है और कैसे टैक्स दायित्व में अतिरिक्त लेट फीस से बचा जा सकता है।

Allowability of Out of Court Settlement & Legal Expenses: ITAT Directs Re-adjudication

March 28, 2024 843 Views 0 comment Print

AC Chokshi Share Brokers Pvt Ltd appeals against disallowed legal expenses for out-of-court settlement & defense. ITAT Mumbai orders readjudication. Details here.

Madras HC disposes Petitions Challenging Sections 115WA to 115WL

March 28, 2024 768 Views 0 comment Print

Read about Salem Textiles Ltd. Vs Union of India. Madras High Court rules on the constitutionality of Income Tax Act provisions 115 WA(2) and 115 WB(2)& (1).

ITAT Quashes Assessment Order for Lack of Property Valuation Report

March 28, 2024 1203 Views 0 comment Print

Read the detailed analysis of the ITAT Hyderabad order quashing the assessment for A.Y. 2009-10 due to absence of property valuation report. Learn about the case of Khairunnisa Vs ITO.

Section 43B(h): Disallowances of expenses due to non-payment to MSMEs

March 28, 2024 20151 Views 0 comment Print

Explore Section 43B (h) of the Income Tax Act, 1961, analyzing disallowances of expenses due to non-payment to MSMEs. Effective from FY 2023-24.

Depreciation not claimed as application of income U/s 11: ITAT directing re-adjudication

March 27, 2024 885 Views 0 comment Print

Explore the ITAT Bangalore case involving depreciation income versus deferred grant income, directing re-adjudication for proper application under Section 11.

Section 2(22)(e) of Income Tax Act is applicable only to registered shareholders

March 27, 2024 2259 Views 0 comment Print

Read about the ITAT Chennai case between DCIT and Gemini Traze RFID Pvt. Ltd. regarding deemed dividend status under Section 2(22)(e) of the Income Tax Act.

ITAT upholds disallowance for delayed Deposit of Employees’ PF & ESIC

March 27, 2024 636 Views 0 comment Print

Read the full text of the order of ITAT Pune regarding the disallowance of late deposit of Employees’ share of PF and ESIC by Kothari Wheels vs DCIT.

Section 43B(h) of Income Tax Act 1961 w.e.f 01-04-2024 & Applicable from AY 2024-25

March 27, 2024 39693 Views 1 comment Print

Explore Section 43B(h) of the Income Tax Act 1961, effective from April 1, 2024, applicable from Assessment Year 2024-25, impacting timely payments to micro and small enterprises.

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