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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


Donation to Political Parties: Legal Framework & Tax Implications

Income Tax : Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and...

August 16, 2024 15 Views 0 comment Print

Income Tax Calculator Financial Year 2024-25

Income Tax : Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime sugges...

August 16, 2024 32328 Views 21 comments Print

Importance of Show-Cause Notices: Key Insights & Case Laws

Income Tax : Learn the importance of show-cause notices, their legal implications, and how to respond effectively to protect your rights. Explo...

August 16, 2024 219 Views 0 comment Print

Form 10 Submitted Electronically Before Assessment Completion; Reopening Due to Technical Delay Unjustified

Income Tax : Delhi HC quashes reopening of tax assessment, ruling that technical delay in e-filing Form 10 before assessment completion is unju...

August 16, 2024 69 Views 0 comment Print

Income Tax Benefits on Home Loans: What You Need To Know

Income Tax : Learn about income tax deductions on home loans, including benefits under Sections 24, 80C, 80EE, and 80EEA. Understand eligibilit...

August 16, 2024 987 Views 0 comment Print


Latest News


Direct Tax Collections FY 2024-25 Reach Rs. 6.93 Lakh Crores as on 11.08.2024

Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...

August 13, 2024 234 Views 0 comment Print

Live Course: Handling Faceless Income Tax Assessment with AI Tools like ChatGPT

Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...

August 12, 2024 453 Views 0 comment Print

Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 12, 2024 258 Views 0 comment Print

Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 12, 2024 438 Views 0 comment Print

FAQs on PFA & Defective for ITR 1 to 6 for AY 24-25

Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...

August 10, 2024 3018 Views 0 comment Print


Latest Judiciary


Bogus purchase addition cannot be based on superficial inquiry: Bombay HC

Income Tax : Bombay High Court held that half-hearted approach on the part of AO to make additions on the issue of bogus purchase would not be ...

August 17, 2024 12 Views 0 comment Print

Notice u/s. 148A issued by Jurisdictional AO instead of Faceless AO liable to be quashed: Bombay HC

Income Tax : Bombay High Court held that issuance of notice under section 148A of the Income Tax Act by Jurisdictional Assessing Officer and no...

August 17, 2024 12 Views 0 comment Print

Settlement commission offering immunity by accepting explanation in spirit of settlement cannot be faulted: Karnataka HC

Income Tax : Karnataka High Court held that settlement commission, accepting additional income offered as reasonable and giving immunity from p...

August 16, 2024 54 Views 0 comment Print

CIT needs to independently apply his mind prior to invoking revisionary provisions u/s. 263: ITAT Kolkata

Income Tax : ITAT Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...

August 16, 2024 60 Views 0 comment Print

Addition u/s. 68 restored on failure to discharge onus via evidence or material: ITAT Pune

Income Tax : ITAT Pune restored the assessment order as assessee neither filed any evidence nor provided material in an attempt to discharge th...

August 16, 2024 96 Views 0 comment Print


Latest Notifications


Guidelines for Handling High-Risk PAN Cases in Insight Portal

Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...

August 16, 2024 9 Views 0 comment Print

Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 2640 Views 0 comment Print

Income Tax Exemption for UIDAI’s Specified Income 2024-2029

Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...

August 12, 2024 264 Views 0 comment Print

Income Tax Exemption for West Bengal Transport Workers Social Security Scheme

Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...

August 12, 2024 72 Views 0 comment Print

Notification No. 98/2024 Income Tax Exemption for Karnataka Disaster Centre

Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...

August 7, 2024 732 Views 0 comment Print


Income Tax Relief to Cooperative Societies

August 6, 2024 1236 Views 0 comment Print

The Ministry of Cooperation announces tax relief for cooperatives, including reduced surcharges, updated cash thresholds, and more, to boost rural and farming communities.

Buy Back of Shares: Taxation, Reasons & Budget 2024 Changes

August 6, 2024 2871 Views 0 comment Print

Discover the complete guide on taxation for buyback of shares, including the latest changes in the 2024 Budget. Understand the provisions, reasons, and implications.

Due Date Compliance Calendar August 2024

August 6, 2024 1864797 Views 72 comments Print

Stay updated with the compliance due dates for GST, Income Tax, ESI, and PF Acts. This comprehensive calendar includes important dates for GSTR-1, GSTR-3B, ITC-04, GSTR-5 & 5A, GSTR-6, GSTR-7, GSTR-8, TDS/TCS payment, Advance Tax payment, TDS/TCS certificate issuance, Aadhaar-PAN linking, PF/ESIC payment, and PF return filing.

No proposal to reclassify Bengaluru as a metropolitan city for HRA purposes

August 6, 2024 309 Views 0 comment Print

Explore the current status of Bengaluru’s inclusion for HRA exemption under income tax laws and government policy on metropolitan city designations.

Tax Exemptions for BCCI & IPL: Government’s Revenue Impact

August 6, 2024 342 Views 0 comment Print

Explore the financial impact of tax exemptions for BCCI and IPL, government actions, and proposed reforms from the latest Rajya Sabha update on August 6, 2024.

Holding period computable from allotment letter date & not sale agreement registration date

August 5, 2024 2517 Views 0 comment Print

ITAT Mumbai states holding period for capital gains should be computed from the allotment letter date, not the sale agreement registration date.

Deduction not available when opted for Tonnage Tax Scheme: ITAT Hyderabad

August 5, 2024 225 Views 0 comment Print

ITAT Hyderabad held that as per the provisions of section 115VG of the Income Tax Act, once the assessee opts for the Tonnage Tax Scheme, the assessee cannot take the shield of taking the deduction of any other expenditure.

Is 20% Pre-deposit for disputed amount always mandatory? Discussion between CA. Mickey & CA. Mini

August 5, 2024 1137 Views 0 comment Print

Discover if the 20% pre-deposit for tax disputes is always mandatory or if there are exceptions. Learn about discretionary powers and recent judicial insights.

PAN-Aadhaar Linkage failure: Higher TDS/TCS Exemption for Deceased Deductees

August 5, 2024 6840 Views 0 comment Print

Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpayer grievances.

The Budget 2024, That Missed Some Pertinent Issues

August 5, 2024 1602 Views 1 comment Print

Explore key issues in Budget 2024, including tax rectification delays, unjust tax rates, exorbitant TCS on foreign travel, and needed reforms in presumptive taxation.

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