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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 42 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


No section 148 Notice can be Issued before expiry of Period For Issuing Section 143(2) Notice

August 9, 2023 8211 Views 2 comments Print

Explore the recent ITAT Dehradun judgment in Uttarakhand Poorv Sainik Kalyan Nigam Ltd. vs. ITO case, challenging AO’s premature jurisdiction assumption under section 148

ITAT direct AO to find Every Month’ Definition in Clause 38 of EPF Scheme from PF/ESI Authority

August 9, 2023 1563 Views 0 comment Print

ITAT Delhi restored the issue to the file of AO with the direction to find out from the relevant PF authorities and ESI authorities about the term ‘every month’ as mentioned in clause 38 of the employees provident fund scheme.

Income Tax calculator for Salaried Individuals of F.Y. 2023-2024

August 9, 2023 23778 Views 6 comments Print

📢 Attention Salaried Individuals! Discover Your Best Tax Regime with Our Income Tax Calculator! Tax season stressing you out? Wondering which tax regime is more beneficial for you as a salaried person? Don’t let taxes weigh you down! Empower yourself with our Income Tax Calculator for Salaried Individuals and discover which Tax Regime works best […]

ITAT: Interest on Loan for Repayment Deductible from House Property Income

August 9, 2023 6432 Views 0 comment Print

ITAT Mumbai’s decision in Shyamnarayan Trades Pvt Ltd vs ITO clarifies deductibility of interest on property loans, addressing loan repayment and share purchase.

ITAT Directs CIT(A) to Re-Adjudicate with due consideration of evidence & merits

August 9, 2023 525 Views 0 comment Print

ITAT Ahmedabad’s decision in Gunvantbhai Chhitubhai Nayak vs ITO emphasizes re-adjudication of a case with due consideration of evidence, after finding the CIT(A)’s order lacking in merits.

Bombay HC Lifts Travel Ban in Aarti Chaurasia vs DDIT Case

August 9, 2023 549 Views 0 comment Print

Bombay High Court lifts travel ban on Aarti Ramesh Chaurasia due to LOC issued by Income Tax Dept. Find details of the case and the judgment here.

Section 12AA Registration can’t be denied for absence of Dissolution Clause

August 9, 2023 1422 Views 0 comment Print

ITAT Delhi orders that absence of a dissolution clause in Trust Deed shouldn’t deny registration u/s 12AA of Income Tax Act in Roop V.K Jain Foundation case.

Assessee’s Valid Claims Shouldn’t Suffer Due to Ignorance/Mistake: ITAT Chennai

August 9, 2023 1314 Views 0 comment Print

Read the full text of the ITAT Chennai order directing the re-computation of the income of Vivekananda Seva Trust due to inadvertent errors in filing the Income Tax Return forms.

ITAT Partially Allows Appeal on Cash Deposit during Demonetization Period

August 9, 2023 999 Views 0 comment Print

Read the ITAT Chennai order on cash deposit during demonetization. The appeal is partially allowed due to failure to produce documentary evidence for some deposits.

CBDT extends applicability of Safe Harbour rules to AY 2023-24

August 9, 2023 11895 Views 0 comment Print

Read how CBDT’s Notification No. 58/2023 amends Income-tax Rules, extending Safe Harbour rules to AY 2023-24. Insights from Ministry of Finance, New Delhi.

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