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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


Addition solely based on estimation without rejecting books is not sustainable

September 1, 2023 2280 Views 0 comment Print

Analysis of ITAT Delhi’s decision on the case between Home Developers Project Pvt. Ltd. & DCIT. Focus on AO’s failure & burden of evidence on the assessee.

No Section 14A Disallowance if No Expenditure Claimed in P&L accounts

September 1, 2023 783 Views 0 comment Print

Delhi’s ITAT rules on disallowance under section 14A of the Income Tax Act. The verdict clarifies treatment of revenue expenses not claimed in P&L accounts.

Share Premium not taxable in the hands of investee if Investor already taxed for it

September 1, 2023 597 Views 0 comment Print

Analysis of ITAT Chennai’s decision on taxing share premium: ACIT Vs Luncar Finance Pvt. Ltd. A focus on already taxed income in the hands of Investor Company

Annual Report on APA Programme by CBDT: Highlights & Insights (2019-22)

September 1, 2023 966 Views 0 comment Print

Dive deep into Annual Report of APA Programme in India for years 2019-2022. Explore CBDT’s efforts, accomplishments, and challenges in ensuring tax certainty.

Jurisdictional AO has jurisdiction to entertain rectification application filed u/s 154

September 1, 2023 1872 Views 0 comment Print

ITAT Delhi held that the Jurisdictional A.O. is having the jurisdiction to entertain the rectification application filed by the Assessee u/s 154 of the Income Tax Act.

Assessee failed to Submit details: ITAT Restores Section 54F Deduction Matter

September 1, 2023 3306 Views 0 comment Print

ITAT Chennai restores the matter of Salma Ahmed’s capital gain deduction under section 54F to CIT(E) due to inadequate details provision by the assessee.

Rental & Service Income Classification Mustn’t Change on Mere surmises

September 1, 2023 411 Views 0 comment Print

Swar Maya Infotech’s treatment of rental and facility management income is evaluated by ITAT Delhi, emphasizing on consistency and accurate deduction claims.

No disallowance of Transport commission expense solely for cross-verification absence

September 1, 2023 669 Views 0 comment Print

Analysis of the ITAT Delhi verdict: Why the absence of cross-verification under Section 133(6) shouldn’t be the sole reason to disallow business expenses.

ITAT Denies SEZ Developer Section 80IAB Deduction on Food & Beverage Sales Income

September 1, 2023 582 Views 0 comment Print

The ITAT Delhi ruling on Seaview Developers regarding deduction claims under section 80IAB for sales of food and beverages and interest expenses.

Duly accounted cash sales during demonetization cannot be treated as unexplained cash credit

September 1, 2023 1464 Views 0 comment Print

Analysis of the ITAT Chennai’s ruling in Micky Fireworks Vs ACIT, focusing on the debate around unexplained cash under Section 68 during the demonetization period.

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