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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 150 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 1395 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 180 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 9777 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 10728 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 20109 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 51 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 33 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 57 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 69 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 1818 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 10209 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


10 Key Points for Agriculture Income Tax: Guidelines & Exemptions

August 21, 2023 4353 Views 0 comment Print

Understand agriculture income tax rules. Learn about exemptions, deductions, documents required, and taxation on agricultural earnings.

Purchases reflected in books can’t be treated as unexplained investment

August 21, 2023 2709 Views 0 comment Print

ITAT Mumbai sets aside CIT(A) order in Vimal Kishor Shah vs ITO case, ruling purchases reflected in books can’t be treated as unexplained investment.

No Section 69 Addition for Cash Payment based on Seized Third-Party Ledger Alone

August 21, 2023 4104 Views 0 comment Print

Analysis of the ITAT Lucknow case Mahendra Lalka Vs DCIT on Sec 69 of the Income Tax Act. Key findings, implications, and legal insights included.

ITAT: Capital Project Donations for Trust Treated as Corpus, Re-adjudication Directed

August 21, 2023 615 Views 0 comment Print

ITAT Mumbai’s order on Ayyappa Seva Samgham Bombay Vs CIT(A). Insight into the ruling on Corpus Donations, depreciation claims, & Section 11 of the Act.

Belated Filing under IT Act 139(4) Can’t Deny Section 80P Tax Deduction: ITAT

August 21, 2023 5154 Views 0 comment Print

Insights into ITAT Delhi’s verdict on the denial of income tax deduction due to belated returns under Section 139(4) of the Income Tax Act for AY 2019-20.

Delhi HC directs refund of Income Tax amount exceeding 20% of demand

August 21, 2023 1827 Views 0 comment Print

Delhi HC directs refund of Income Tax amount exceeding 20% of the demand. Read about the Max Life Insurance case and the decision on refund for AY 2017-18

Business Nexus Required for Allowance of Bad Debts Claim: ITAT

August 21, 2023 474 Views 0 comment Print

Analysis of ITAT Delhi’s ruling in DCIT vs Centum Learning Ltd on debts claim, business nexus & re-adjudication. A critical look at the order dated 12.04.2019.

ITAT: Exemption of Leave Encashment for DoT Employees under 10(10AA)

August 21, 2023 5658 Views 0 comment Print

ITAT Ahmedabad deletes disallowance on leave encashment for employees in Department of Telecommunication under Section 10(10AA) of Income Tax Act. Read full order

No Disallowance on Bonus Paid Before Return Due Date: ITAT Kolkata

August 21, 2023 2304 Views 0 comment Print

ITAT Kolkata rules no disallowance on bonus outstanding paid before the due date of filing return, in the case of DCIT Vs Medica Hospitals Pvt Ltd. Details inside.

No Penalty u/s 271D for Loans via Account Payee Cheques: ITAT

August 21, 2023 762 Views 0 comment Print

ITAT rules no penalty u/s 271D for exceeding cash transaction limit on loans taken through Account Payee Cheques. Read the full case of Sanjaykumar Patel.

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