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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


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 147 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 72 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 1380 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 159 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 177 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 9771 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 10725 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 20106 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 1206 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


ITAT Mumbai Allows Section 80P(2)(d) Deduction on Co-Op Bank Interest

Income Tax : ITAT Mumbai rules in favor of Pathare Prabhu CHS Ltd., allowing deduction under Section 80P(2)(d) for interest income from co-oper...

February 27, 2025 45 Views 0 comment Print

Interest from co-operative banks remains eligible for Section 80P(2)(d) deduction

Income Tax : ITAT Mumbai ruled in favor of Borivali Jankalyan Sahakari Patpedhi Ltd., allowing deduction under Section 80P for interest income ...

February 27, 2025 27 Views 0 comment Print

Substantive Additions Require Evidence; Protective Additions Apply to Ownership Uncertainty

Income Tax : ITAT Ahmedabad rules on undisclosed foreign accounts in the case of Manjulaben Bipinbhai Patel vs DCIT, addressing tax assessments...

February 27, 2025 42 Views 0 comment Print

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 54 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 63 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 201 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 1812 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 10206 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 7956 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 stays Income Tax Reassessment Against Oxfam India

August 31, 2023 603 Views 0 comment Print

Delhi High Court intervenes in Oxfam India’s tax reassessment case, issuing a stay on proceedings. A comprehensive analysis of the Delhi HC order and its implications.

ITAT Imposes Rs 5000 Cost for Ignoring CIT(A) Notices on Appellant

August 31, 2023 489 Views 0 comment Print

Analysis of ITAT Hyderabad’s decision in Mareddy Jagan Mohan Vs ITO: Cost levied for ignoring CIT(A) NFAC notices and impact on the assessee’s appeal.

Depreciation under IT Act Section 32 not allowable if No Business Activity

August 31, 2023 834 Views 0 comment Print

Review of the ITAT Delhi’s decision on Arrow Manpower Services case. Discussion on the disallowance of depreciation claim and implications of the verdict.

Lack of Notice Violates Natural Justice, Requires Readjudication: ITAT Chennai

August 31, 2023 348 Views 0 comment Print

ITAT Chennai’s landmark decision on the non-issuance of notice to Arunachalam, underlining the importance of natural justice in tax proceedings.

Section 148 Notice Void if AO Doesn’t examine Assessee’s Filed Return

August 31, 2023 6147 Views 0 comment Print

ITAT Delhi rules on the invalidity of a notice issued without accessing an assessee’s return, showcasing the nuances of the Income Tax Act.

Voluntary disclosure of LTCG under IDS Scheme: ITAT deletes Penalty

August 31, 2023 483 Views 0 comment Print

ITAT Mumbai decides on the applicability of penalties under Section 271(1)(c) after disclosing concealed income under the IDS scheme.

Oath recorded by Unauthorized Officer Has No Evidence Value: Delhi HC

August 31, 2023 495 Views 0 comment Print

Delhi High Court decides on the admissibility of evidence in PCIT Vs ARN Infrastructure, emphasizing officer authorization & corroborative evidence.

Understanding Clause No. 44 in Form 3CD of Tax Audit

August 31, 2023 30627 Views 0 comment Print

An in-depth analysis of Clause No. 44 in Form 3CD, its impact on large organizations, challenges faced by the Assessee, and suggested solutions for smoother compliance.

CIT(A) not adjudicated issues on merit: ITAT Restores Matter to CIT(A)

August 30, 2023 543 Views 0 comment Print

ITAT Chennai reopens Carborundum Universal’s case with Deputy Commissioner over income tax deletion due to evidence gaps. Full analysis inside.

Email Notice Non-Compliance due to Online Service Knowledge Gap: ITAT Directs Re-adjudication

August 30, 2023 540 Views 0 comment Print

ITAT Bangalore reviews Behra Gopal Krishna Rao’s case, highlighting the challenge of email notices for individuals unfamiliar with computers. Details inside.

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