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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


Role of Taxation in Addressing Income Inequality

Income Tax : Taxation plays a key role in reducing income inequality through progressive tax policies, redistribution, and public services. Lea...

February 28, 2025 168 Views 0 comment Print

Key Tax Considerations for Freelancers and Gig Economy Workers

Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...

February 28, 2025 84 Views 0 comment Print

Understanding Standard Deduction: A Key Tax Benefit

Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...

February 27, 2025 582 Views 1 comment Print

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 324 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 2664 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 9897 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 10884 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 20121 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 1215 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 174 Views 0 comment Print


Latest Judiciary


Accumulation u/s. 11(1)(a) allowed at 15% of gross receipts: ITAT Delhi

Income Tax : ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...

February 28, 2025 15 Views 0 comment Print

Capital gain cannot be treated as bogus merely on warning letter of SEBI without any incriminating material

Income Tax : ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI w...

February 28, 2025 15 Views 0 comment Print

No Reassessment After 4 Years for AO’s Error in Computing Income When Material Facts Fully Disclosed

Income Tax : Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional c...

February 28, 2025 54 Views 0 comment Print

Initiation of revision proceedings u/s. 263 based on audit objection not tenable in law: ITAT Jaipur

Income Tax : ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not...

February 28, 2025 42 Views 0 comment Print

Resolve Accounting Method Disputes Through Appellate Process, Not Judicial Review: Bombay HC

Income Tax : Bombay High Court dismisses Shandilya Properties LLP's petition challenging an income tax assessment order, directing them to exha...

February 28, 2025 51 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 288 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 1911 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 10380 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 8004 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


Delhi HC Quashes Income Tax Notice Due to Failure to Note Disclosures in ITR

September 14, 2023 5976 Views 0 comment Print

Delhi High Court’s landmark judgment in Shalini Mittal Vs ITO case, quashing the income tax notice issued under Section 148A(b) of the Income Tax Act for Assessment Year 2018-19.

Taxation of Salary for Work in Foreign Jurisdiction Under India-China DTAA

September 14, 2023 741 Views 0 comment Print

An in-depth analysis of the Ramesh Kumar AE Vs ITO (ITAT Chennai) case. Discover why the ITAT Chennai ruled that salary earned in a foreign jurisdiction is not taxable in India.

Re-adjudicate Deceased Assessee’s Foreign Income Based on Previous Year’s Residential Status: ITAT

September 14, 2023 606 Views 0 comment Print

Read the full text of ITAT Mumbai’s order directing re-adjudication of foreign income earned by a deceased assessee based on the residential status of the previous year.

Give chance to Assessee to establish non-receipt of statutory notices: ITAT

September 14, 2023 879 Views 0 comment Print

An in-depth analysis of the ITAT Delhi’s order in the case Poonam C/o Sanjeev Anand vs ITO, focusing on the significance of the ruling that assessees should be given a chance to establish non-receipt of statutory notices.

Taxing Agricultural Income Under Section 153C: Role of Incriminating Material

September 14, 2023 486 Views 0 comment Print

Exploring the key takeaways from the ITAT Chennai ruling in Duraisamy Parameswaran Vs ACIT, focusing on how agricultural income is treated under Section 68 of the Income Tax Act.

ITAT Quashes Reassessment on grounds of being based on vague & non-descript reasons

September 14, 2023 897 Views 0 comment Print

An in-depth analysis of ITAT Delhi’s verdict in the case of Captive Commerce Pvt. Ltd. Vs ACIT. The tribunal quashes the reassessment order under Section 148 of Income Tax Act for vague reasons.

Bonus Shares cannot be taxed under section 56(2)(vii)(c )

September 14, 2023 810 Views 0 comment Print

Analysis of ITAT Delhis decision in DCIT Vs Aruna Chandhok case. Understand why no income tax is payable on bonus shares under Income from Other Sources.

Advisory on Validating Bank Account on Income Tax Portal for Income Tax Refund

September 14, 2023 33399 Views 0 comment Print

Check if your bank account is valid for refund. Learn how to update or revalidate your account details on the e-filing portal. Get assistance and support.

Deeming provision u/s 69 not applicable on unrecorded transaction as nature and source explained

September 13, 2023 2772 Views 0 comment Print

ITAT Chandigarh held that transactions which were not recorded at the time of survey are unrecorded transaction, however, as nature and source of such unrecorded transaction explained the same cannot be brought to tax under the deeming provisions of section 69 of the Income Tax Act.

Fund utilized more than prescribed limit for achieving objective allowable U/s. 11

September 13, 2023 660 Views 0 comment Print

Himachal Pradesh High Court held that exemption u/s 11 of the Income Tax Act duly entitled even if Funds Pending Utilization was more than the prescribed limit as proved that funds were utilized for the purpose of achieving its objective.

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