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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 27 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 903 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 126 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 10695 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 33 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 42 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 24 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 105 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 57 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 132 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 10164 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 7950 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


Onus on Income-Tax Department When Affidavits Verify Cash Deposit Sources

September 19, 2023 10431 Views 0 comment Print

Explore the case of Sh. Kuldeep Kumar Vs ITO, where the onus shifted to the IT Department when affidavits verified cash deposit sources. Full ITAT Jodhpur order analysis

Non-Corpus Donations to Section 12A registered Charitable Trusts with Similar Objectives allowed

September 19, 2023 11751 Views 0 comment Print

Explore the ITAT Chennai order in Srimathi Laxmi Charities vs. ACIT, focusing on non-corpus donations to charitable trusts and the deletion of additions.

Revenue Recognition Method Aligned with AS-9 Mandate: Addition deleted

September 19, 2023 2409 Views 0 comment Print

Analysis of the ITAT Mumbai ruling in the case of DCIT vs. Red Hat India Pvt. Ltd. regarding revenue recognition and Accounting Standard-9 compliance.

ITAT directs Assessing Officer to Investigate TDS Claim & PAN Misuse

September 19, 2023 3402 Views 0 comment Print

Read about ITAT Delhi’s directive to Assessing Officer to investigate TDS claims and PAN misuse in case of Legend Transport Solutions Pvt. Ltd. vs. ITO.

Income Tax Notification: Uttar Pradesh Expressways Industrial Development Authority

September 19, 2023 531 Views 0 comment Print

Read recent Income Tax notification (No. 78/2023) regarding Uttar Pradesh Expressways Industrial Development Authority’s specified income and tax provisions.

Penalty Imposed Solely on Estimated Profit Addition is not justified

September 19, 2023 774 Views 0 comment Print

ITAT Mumbai’s ruling on penalty for concealed income based on estimated additions. Analysis of case, legal arguments, and conclusion.

Deduction Allowed for Warranty Expense Provisions Based on Actual Settlement Costs from Prior Years

September 19, 2023 777 Views 0 comment Print

Analysis of ITAT Mumbai’s decision on the deduction allowable for warranty expenses based on actual expenses incurred. Case details and conclusion.

Responded Query During Assessment Implies AO Consideration, Even if Unmentioned in Order

September 19, 2023 954 Views 0 comment Print

Explore the case of Darshana Anand Damle vs. DCIT in the Bombay High Court regarding a land development agreement and its tax implications.

Section 10A Deduction Precedes Set-Off of Carry-Forward Business Loss & Depreciation

September 19, 2023 831 Views 0 comment Print

Read about ITAT Mumbai’s decision in BA Continuum India Private Limited Vs. ITO regarding deduction u/s 10A of Income Tax Act before set-off of business loss and depreciation.

Undisclosed Income Taxed in Flagship Company Not Taxable in Assessee Companies

September 19, 2023 1119 Views 0 comment Print

Discover the Delhi High Court’s ruling in the case of PCIT vs. Surya Agrotech Infrastructure Limited regarding undisclosed income taxation and double taxation.

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