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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 9765 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 39 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 21 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


Compensation paid for Contractual Non-Fulfilment allowable

August 28, 2023 450 Views 0 comment Print

ITAT Kolkata rules that compensation paid for not fulfilling a contract isn’t penal, as there’s no law infringement. This upholds deduction claims.

ITAT allows Electricity expenses which were disallowed on mere presumptions

August 28, 2023 444 Views 0 comment Print

Detailed analysis of ITAT’s decision in Uma Rajendra Agarwal Vs ACIT regarding deletion of adhoc disallowance on electricity expenses.

HC Dismisses Writ Due to Availability of Alternative Appeal Remedy

August 28, 2023 288 Views 0 comment Print

Calcutta High Court denies the writ petition challenging the assessment order u/s 147, emphasizing no objection filed in time. Alternative remedies noted.

Assessee fails to submit documents due to Covid: ITAT allows one more opportunity

August 28, 2023 330 Views 0 comment Print

ITAT Hyderabad rules on Rotodyne Engineering’s appeal, emphasizing the impact of the COVID pandemic on document submission for tax assessments.

Taxpayer/assessee should be heard as far as reasonably possible: ITAT Pune

August 28, 2023 312 Views 0 comment Print

ITAT Pune orders re-adjudication, emphasizing the importance of natural justice and giving Sachin Vasant Jare a chance to present his submissions.

Assessment cannot be deemed as erroneous merely for difference between guideline value & sale consideration

August 28, 2023 732 Views 0 comment Print

ITAT Chennai rules no fresh assessment by CIT if AO chooses not to add on Income Tax. Deepika Subramanian’s appeal upheld against PCIT’s decision.

DCB reports relevant in determining proper payment of CST & VAT: ITAT

August 28, 2023 336 Views 0 comment Print

ITAT Hyderabad recognizes the relevance of DCB reports in determining proper payment of CST and VAT by Sri Gurukrupa Agro Industries for 2015-16.

CBDT inserts New Income Tax Rule 13 & 13A & New Form No. 6C and 6CA

August 28, 2023 14835 Views 0 comment Print

Understand the latest additions to the Income Tax Rules by CBDT. Dive into the details of Rule 13 & 13A and the significance of Form No. 6C & 6CA.

Form 13 and Declaration under section 194C(6) of Income Tax Act

August 28, 2023 31179 Views 0 comment Print

Details of Form 13 & section 194C(6) of Income Tax Act 1961. Learn importance of these for transporters & how to avoid excess TDS deductions.

Use of technology in Income Tax tax proceedings & its impact on taxpayers: ITBA Suggestions

August 28, 2023 8895 Views 0 comment Print

An insight into suggestions made by Income Tax Bar Association, Varanasi on use of technology in tax proceedings and its impact on taxpayers.

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