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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


Residential Status of An Assessee in Income Tax Act, 1961

Income Tax : Learn how residential status affects tax liability under the Income Tax Act, 1961. Understand ROR, RNOR, and NR classifications an...

February 27, 2025 24 Views 0 comment Print

Section 87A Rebate post Bombay High Court Judgement

Income Tax : Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR u...

February 27, 2025 798 Views 0 comment Print

Co-Browsing for Taxpayers: Easy ITR Filing Assistance

Income Tax : Co-browsing helps taxpayers file ITR, change settings, and navigate the tax portal with real-time help from agents. Secure, free, ...

February 27, 2025 120 Views 0 comment Print

Understanding Income Tax Brackets & Deductions: A Detailed Analysis

Income Tax : This article provides an in-depth analysis of India's tax brackets, key deductions, and recent amendments to income tax laws, help...

February 27, 2025 141 Views 0 comment Print

Income From Other Sources: Chargeability Under Section 56

Income Tax : This blog explores the chargeability of Income from Other Sources (IFOS) under Section 56, its scope, types of income covered, tax...

February 27, 2025 117 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 9708 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 10692 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 20097 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 1203 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 171 Views 0 comment Print


Latest Judiciary


Services without transfer of any technical knowledge doesn’t qualify as FTS: ITAT Mumbai

Income Tax : ITAT Mumbai held that receipts from maintenance and support services and additional services, without transfer of any technical kn...

February 27, 2025 27 Views 0 comment Print

Valuation of finished goods after following stock ageing effect justifiable

Income Tax : The assessee is engaged in the business of Manufacturing & Trading of Sarees, Salwar Suites and Dress Materials. A survey u/s 133A...

February 27, 2025 36 Views 0 comment Print

Capital expense on R&D outside India is eligible for deduction u/s. 35(1)(iv): ITAT Pune

Income Tax : AO in the final order passed on 19.01.2017 however, made disallowance of weighted deduction u/s 35(2AB) to the extent of 3,38,82,3...

February 27, 2025 21 Views 0 comment Print

No Substantial Question of Law in Profit Estimation on Bogus Purchases: Bombay HC

Income Tax : Bombay High Court rules that profit estimation in bogus purchases does not raise a substantial question of law, dismissing the Inc...

February 27, 2025 75 Views 0 comment Print

Resorting to estimation of profit without rejection of books not justified: ITAT Hyderabad

Income Tax : ITAT Hyderabad held that resorting to estimation of profit in case of best judgement assessment without rejection of books of acco...

February 27, 2025 54 Views 0 comment Print


Latest Notifications


Select Committee of Lok Sabha to examine Income-Tax Bill, 2025

Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...

February 27, 2025 120 Views 0 comment Print

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 1797 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 10152 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 7947 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 915 Views 0 comment Print


Constitutional validity of Section 144-B(9): SC Remits Case to AO

September 22, 2023 843 Views 0 comment Print

Read full text of Supreme Court’s order in Sapna Flour Mills Ltd vs. Union of India & Ors, disposing of special leave petition with liberty to revive in future.

ITAT Orders Rs 25,000 Cost Deposit in PM Relief Fund for Assessee’s Non-Compliance

September 22, 2023 594 Views 0 comment Print

Read about ITAT’s decision to direct Tera Naturals Resources Pvt. Ltd. to deposit Rs 25,000 in PM Relief Fund due to non-compliance behavior during appellate proceedings.

Corporate Assessees Ineligible for Personal Use Considerations

September 22, 2023 639 Views 0 comment Print

Read the full text of ITAT Delhi’s order in Super Alloy Castings P. Ltd vs. ACIT regarding higher depreciation on electrical fittings and rejection of personal use charges.

Form 10BB FAQs (A.Y. 2023-24): Common Questions Answered

September 22, 2023 5580 Views 0 comment Print

Get answers to frequently asked questions about Form 10BB for A.Y. 2023-24 onwards. Learn about its applicability, filing process, due dates, and more.

Grievance Redressal & Assessment Index (GRAI)

September 22, 2023 1236 Views 0 comment Print

Learn about measures to enhance grievance redressal as per Grievance Redressal & Assessment Index (GRAI) in this official memorandum from Ministry of Finance, Government of India

Form 10B FAQs (A.Y. 2023-24): Answers to Common Questions

September 22, 2023 3264 Views 0 comment Print

Get clarity on Form 10B (Applicable from A.Y. 2023-24 onwards) with comprehensive FAQs. Learn about its applicability, filing process, due dates, and more.

ITAT Grants 30% Depreciation on Philips India’s Business-Owned Moulds

September 21, 2023 939 Views 4 comments Print

Read the full text of the ITAT Kolkata order in the case of Philips India Limited vs. ACIT regarding the grant of 30% depreciation on business-owned moulds.

Transferee Company eligible to take credit of TDS Deducted in Transferor Company’s Hands Upon HC’s Amalgamation Scheme Approval

September 21, 2023 7104 Views 0 comment Print

Read about the ITAT Kolkata case of Popular Complex Advisory Pvt. Ltd. vs. ITO involving TDS credit in amalgamation schemes approved by HC.

Section 68 Inapplicable if no Cash Transactions & no sum of money credited in books 

September 21, 2023 1296 Views 0 comment Print

Learn about the addition under Section 68 of the Income Tax Act and the importance of explaining identity, creditworthiness, and transaction genuineness in the case of ITO vs. Natraj Mercantile Pvt Ltd.

Section 143(2) Notice Mandated When Assessment Differs from Filed Return

September 21, 2023 6525 Views 0 comment Print

Learn about the validity of re-assessment without notice u/s 143(2) in the case of Gonuguntla Nirmala Devi vs. ACIT. Explore the full text of the ITAT Hyderabad order.

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