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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


Section 12AB(4) lacks authority to Retrospectively cancel 12A registrations: ITAT Pune

Income Tax : Tribunal ruled that Section 12AB(4) does not provide powers to cancel Section 12A registrations, and the notices issued were inval...

February 26, 2025 63 Views 0 comment Print

Provisions for Senior Citizens under Income Tax Act

Income Tax : Explore income tax benefits for senior citizens in India, including tax slabs, exemptions, deductions, and key provisions under th...

February 26, 2025 60 Views 0 comment Print

Tax Evasion vs. Tax Avoidance: Legal Implications in India

Income Tax : One of the most infamous tax evasion cases in India is the Sahara India tax evasion case, which highlights the legal implications ...

February 26, 2025 54 Views 0 comment Print

How to Maximize Tax Savings Under New Tax Regime

Income Tax : Learn how to save tax under the new tax regime with standard deduction, employer NPS contributions, and tax-free retirement benefi...

February 26, 2025 1428 Views 0 comment Print

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 459 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 9315 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 10449 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 20046 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 1191 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


Jewellery Ownership cannot Be Presumed Solely from Frequent Locker Operation

Income Tax : ITAT Ahmedabad deletes addition of ₹6.16 lakh under Section 69A for unexplained jewellery, considering joint ownership of locker...

February 26, 2025 33 Views 0 comment Print

No Penalty for Additions Based on Estimation Without Concrete Proof: ITAT Mumbai

Income Tax : ITAT Mumbai ruled on Dev Engineers Vs DCIT, deleting penalties under Sections 271(1)(c) and 271AAB. Additions were based on estima...

February 26, 2025 45 Views 0 comment Print

No TDS on Interest under Section 28 of Land Acquisition Act: ITAT Delhi

Income Tax : ITAT Delhi rules that interest on enhanced land acquisition compensation under Section 28 is part of compensation, not taxable inc...

February 26, 2025 63 Views 0 comment Print

Negative Margins & Functional Differences: ITAT Upholds Comparable Exclusion

Income Tax : ITAT Chennai rules that RRB Energy Ltd. cannot be used as a comparable due to negative margins and functional differences in a tra...

February 26, 2025 57 Views 0 comment Print

SC dismisses Revenue’s appeal for unexplained delay and lack of merit

Income Tax : Supreme Court dismissed the Revenue’s appeal in ACIT vs Mamta Agarwal due to unexplained delay and lack of merit. Delhi HC rulin...

February 26, 2025 45 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 1188 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 9408 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 7566 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 140304 Views 5 comments Print


Section 43B(h) Compliance: Essential FAQs

February 12, 2024 10740 Views 4 comments Print

Understand Section 43B(h) of the Income Tax Act with our concise guide. Get clarity on MSME payments, deadlines, and compliance to avoid penalties.

ITAT upholds denial of LTCG exemption on shares of Kappac Pharma Limited

February 11, 2024 885 Views 0 comment Print

Income Tax Appellate Tribunal upholds denial of LTCG exemption on shares of Kappac Pharma Limited. Read the full analysis of this remarkable decision & its implications on taxpayers.

SEBI Investigation of broker Alone Insufficient to Label Assessee’s LTCG as Bogus

February 11, 2024 669 Views 0 comment Print

Investigate the Income Tax Appellate Tribunal ruling in ITO vs. Indravadan Jain HUF & its implications for similar cases in the future. Assessing officer’s declarations on SEBI Investigation & LTCG of the assessee addressed.

LTCG from Penny Stock Cannot Be Deemed Bogus without Substantiated Allegations

February 11, 2024 1854 Views 0 comment Print

Taxpayers and professionals alike can learn from Ayushi Jain vs. Income Tax Officer (ITO): LTCG can’t be deemed bogus without substantiated allegations. Understand the intricate details of the ruling from ITAT in Kolkata.

Clause (h) of section 43B of Income Tax Act- Disallowance for delayed Payment to MSMEs

February 11, 2024 1905 Views 0 comment Print

Discover how Section 43B of the Income Tax Act impacts deductions for transactions with MSMEs, promoting timely payments and economic growth. Effective from April 1, 2023.

Compliance in sale of property by Non Resident Indian ( NRIs)

February 11, 2024 11181 Views 0 comment Print

Learn what compliance regulations Non-Resident Indians (NRIs) must follow when selling property in India. Check TDS and TAN regulations for buyers of NRI property transactions.

Taxability of income earned from agricultural land situated in India

February 10, 2024 3561 Views 0 comment Print

Explore the nuances of agricultural vs non-agricultural income, tax exemptions, and how understanding these distinctions can aid in effective tax planning.

Understanding Section 43B(h) of Income Tax Act, 1961 & MSMED Act, 2006

February 10, 2024 4977 Views 0 comment Print

Explore the impact of Section 43B(h) of the Income Tax Act & MSMED Act, 2006 on SMEs. Learn how to ensure compliance and benefit from the 2023 amendment.

ITAT Jaipur Ruling on Cash Deposit and Sale Consideration

February 10, 2024 1872 Views 0 comment Print

ITAT Jaipurs decision on reassessment and unexplained income in Geeta Devi Sharma vs ITO Ward 6(4) highlights key aspects of income tax law application.

Section 263 Jurisdiction cannot be exercised for additional inquiries

February 10, 2024 1374 Views 0 comment Print

ITAT Jaipur quashes PCIT’s revision under Section 263, upholding the AO’s decisions on sales promotion expenses after detailed inquiries.

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