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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 99 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 1905 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 198 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 9201 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 63 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 624 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 1923 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 882 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 9246 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 7548 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 140250 Views 5 comments Print


Appellate Authority can Entertain Additional Claims during Assessment Proceedings

March 18, 2024 903 Views 0 comment Print

There is no bar on appellate authority to entertain additional claim during assessment proceedings in absence of any statutory provisions.

ITAT directs CIT(E) to treat application in Form No. 10AB  as filed under clause 12A(1)(ac)(i)

March 18, 2024 645 Views 0 comment Print

Delve into the Kolkata ITAT’s ruling regarding Form No. 10AB applications under section 12A(1)(ac)(i) for registration, analyzing its impact on Santiniketan Sishutirtha vs CIT (Exemptions).

Audit report filing in Form 10CCB before due date for filing of return of income u/s 139(1) is not mandatory

March 18, 2024 3714 Views 0 comment Print

Delhi ITAT rules on the filing of Form 10CCB before due date per Sec 139(1). Analysis of Sanjay Kukreja vs ACIT case & its impact on deduction u/s 80-IA.

Allahabad HC Scrutinizes Transfer of Tax Assessment Jurisdiction

March 18, 2024 447 Views 0 comment Print

Delhi High Court directs re-adjudication in the case of Sandeep Jain vs Union of India regarding denial of Input Tax Credit without considering the petitioner’s reply.

Illogical to Treat Sales as Bogus When Purchases & Stock are Deemed Genuine

March 18, 2024 936 Views 0 comment Print

In Bharat Agro Industries Vs DCIT, New Delhi ITAT questions the logic of treating sales as bogus when purchases are genuine and stock is accepted.

If No Addition Based on Reopening Reasons, Other additions Unsustainable

March 18, 2024 2643 Views 0 comment Print

New Delhi ITAT explains that Explanation 3 to Sec 147 can’t justify additions unrelated to reasons for reopening. Read the detailed analysis.

ITAT upholds Reassessment of Company for land acquired by it before incorporation through Directors

March 18, 2024 387 Views 0 comment Print

Indore ITAT clarifies that a firm can’t deny land ownership if bought through directors. Read the detailed analysis of Bagora Developers Pvt. Ltd. Vs ACIT case.

निष्क्रिय (इनऑपरेटिव) स्थायी खाता संख्या (पैन) के सम्बन्ध में

March 18, 2024 2385 Views 0 comment Print

निष्क्रिय स्थायी खाता संख्या (पैन) को आधार से जोड़ने के महत्व और प्रक्रिया को जानें। आवंटित जुर्माना से बचें और स्वेच्छा से अपने पैन को आधार से जोड़ें।

Eligibility and process of Registration of Charitable Trust in India

March 18, 2024 6240 Views 0 comment Print

Learn the eligibility criteria and step-by-step process for registering a charitable trust in India. Discover the significance, advantages, and FAQs related to trust registration.

Transfer pricing study selecting AE as tested party duly acceptable: ITAT Mumbai

March 18, 2024 255 Views 0 comment Print

ITAT Mumbai held that assessee selecting Associated Enterprise (AE) as “tested party” justifiable. Accordingly, transfer pricing study conducted by the assessee is duly acceptable.

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