Income Tax
Log in to FollowLatest Income Tax news, articles, notifications, circulars and case laws covering ITR, assessments, deductions, TDS, capital gains, tax audit, appeals and compliance.
Income-tax Act, 2025 comes into force from 1st April, 2026
Section 80P Deduction Allowed on Bank Interest – ITAT Follows Tumkur Merchants, Distinguishes Totagars
Penalty Deleted as Issue Becomes Debatable – HC Admission of Quantum Appeal Saves Assessee
Fresh Claim of Section 54F Cannot Be Rejected Mechanically – ITAT Remands for Reconsideration
Entire Bank Deposits Can’t Be Taxed U/s 69A – Only Reasonable Commission Income Taxable
Reassessment Beyond 3 Years Invalid if Escaped Income Below ₹50 Lakh: ITAT Chennai
NIL withholding tax application cannot be allowed on based on argument of pending assessment
Redeployment of Withdrawn Cash Cannot Trigger Section 68 Addition: Source Proven
Demonetisation Cash Sales Accepted: No U/s 68 Addition Without Proof of Bogus Sales
Vague Penalty Notice Invalid: ITAT Deletes 200% Penalty Under Section 270A
Reassessment Quashed as Notice Beyond 3 Years Approved by Wrong Authority
8% Profit Estimate Cut to 3%: AO Ignored Books & Industry Reality
Huge Delay Without Proof Rejected: Liberal View Has Limits
Delay Condoned for FTC Claim: Pursuing Rectification is Valid Cause
Income Tax is TaxGuru’s extensive resource for developments under India’s direct tax laws. This category covers Income-tax provisions, rules, notifications, circulars, instructions, judicial decisions and practical compliance issues. Readers can explore articles and case laws on income-tax returns, assessments, reassessment, deductions, exemptions, capital gains, business income, TDS and TCS, tax audit, penalties, appeals, international taxation and other direct tax matters. The category also covers important CBDT announcements, tax deadlines, return filing developments and changes affecting individuals, businesses and other taxpayers. Chartered Accountants, advocates, tax professionals, companies and taxpayers can use this section to follow legislative, administrative and judicial developments and research important Income Tax issues and precedents.
