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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


Section 115BAC: New Tax Regime – Analysis, Comparison and Key Points

Income Tax : Understand Section 115BAC of the Income Tax Act, 1961, and its implications for taxpayers. Explore the new tax regime, its provisi...

April 15, 2024 2229 Views 1 comment Print

Decoding The Principal – Agent Relationship: An Analysis of Supreme Court’s Interpretation of Section 194-H of Income Tax Act, 1961

Income Tax : Explore the Supreme Court interpretation of Section 194-H of the Income Tax Act, 1961, analyzing the distinction between commissio...

April 15, 2024 777 Views 0 comment Print

Tax Implications of Optionally Convertible Preference Shares

Income Tax : The issue involves a subscription amount of Rs. 1 Crores, with a dividend rate of 0.10% over a tenure of 20 years. This brief exam...

April 15, 2024 801 Views 0 comment Print

Deductions under Section 80: A Pathway to Tax Savings for Individuals and Businesses

Income Tax : The Income Tax Act's Section 80, which gives taxpayers several deductions to lower their taxable income, is one of its most import...

April 15, 2024 11277 Views 0 comment Print

Consequences of Non-Filing or Delay in Filing of Income-tax Return (ITR)

Income Tax : Here we will discuss few of the consequences of non-filing or delay in filing of ITR when you are liable to do so under the Income...

April 15, 2024 1071 Views 0 comment Print


Latest News


Income Tax Return Filing Initiation from 1st April: Enhancing Taxpayer Services

Income Tax : Discover how the Income Tax Department's initiative to open filing on day one of the financial year streamlines processes, boosts ...

April 10, 2024 984 Views 0 comment Print

CBDT Clarifies on Misleading Reports on HRA Claims

Income Tax : Ministry of Finance addresses misconceptions regarding CBDT's supposed special drive to reopen cases related to HRA claims, clarif...

April 9, 2024 24084 Views 0 comment Print

Functionalities to file commonly used ITRs enabled by CBDT on 1st April, 2024

Income Tax : CBDT has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year...

April 5, 2024 7065 Views 0 comment Print

Income Tax Returns Invalid if Unverified Within Time Limit: CBDT

Income Tax : Stay updated with the latest notification from the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes regar...

April 4, 2024 3729 Views 0 comment Print

Clarification regarding applicability of new tax regime and old tax regime

Income Tax : Get clarity on the applicability of the new tax regime versus the old tax regime. Understand the differences and choose the regime...

March 31, 2024 11721 Views 0 comment Print


Latest Judiciary


ITSC Cannot Grant Immunity Without Full & True Disclosure: Delhi HC

Income Tax : Once it is seen that the disclosure was not full and truthful, the ITSC loses its jurisdiction to entertain such an application as...

April 15, 2024 123 Views 0 comment Print

No Sec 69 Addition merely for Property Transfer via Registered Sale Without Payment to Vendor: ITAT

Income Tax : Understand the implications of unexplained expenditure as Hyfun Foods challenges an addition of Rs. 95,47,000/- under section 69 o...

April 15, 2024 267 Views 0 comment Print

Jewellery inherited through non-registered will qualifies as capital asset: ITAT Bangalore

Income Tax : ITAT Bangalore held that non-registration of will doesn’t lead to any inference against its genuineness. Thus, jewellery inherit...

April 15, 2024 942 Views 0 comment Print

Allowability of medical camp expenses: ITAT directs re-adjudication 

Income Tax : In Med-Link Devices Pvt Ltd vs DCIT case, ITAT directs re-adjudication as taxpayer fails to provide detailed expenditure of Rs. 35...

April 14, 2024 282 Views 0 comment Print

ITAT Directs TDS Exemption Certificate Verification: FSL Projects Limited Vs DCIT

Income Tax : Read the detailed analysis of ITAT's decision directing TDS exemption verification for FSL Projects Limited Vs DCIT. Full text ava...

April 14, 2024 198 Views 0 comment Print


Latest Notifications


Central Govt Approves Amul R&D Association for Tax Benefits

Income Tax : Notification No. 38/2024-Income Tax: Central Government approves Amul Research and Development Association for tax benefits under ...

April 10, 2024 381 Views 1 comment Print

Interim Action Plan FY 2024-25 of Income Tax Department

Income Tax : Detailed guidelines from the Central Board of Direct Taxes for the interim action plan FY 2024-25. Learn about key result areas, t...

April 8, 2024 3915 Views 0 comment Print

Functionality for Verification of High Risk Refund Cases for Investigation wing users at Insight

Income Tax : Explore detailed guidelines & procedures for verifying high-risk refund cases using Insights investigation tool. Learn how to navi...

April 2, 2024 555 Views 0 comment Print

Functionality for Verification of High-Risk Refund Cases for Jurisdictional Assessing Officer at Insight

Income Tax : Discover how jurisdictional assessing officers verify high-risk refund cases with Insight Instruction No. 77. Learn the SOP and st...

April 2, 2024 1227 Views 0 comment Print

Functionality for Verification of High Risk Refund Cases for TDS charge officers

Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...

April 2, 2024 330 Views 0 comment Print


Latest Posts in Income Tax

ITSC Cannot Grant Immunity Without Full & True Disclosure: Delhi HC

April 15, 2024 123 Views 0 comment Print

Once it is seen that the disclosure was not full and truthful, the ITSC loses its jurisdiction to entertain such an application as well as to provide any immunity to the applicant from prosecution and penalties.

No Sec 69 Addition merely for Property Transfer via Registered Sale Without Payment to Vendor: ITAT

April 15, 2024 267 Views 0 comment Print

Understand the implications of unexplained expenditure as Hyfun Foods challenges an addition of Rs. 95,47,000/- under section 69 of the Income Tax Act. Detailed analysis and verdict included.

Section 115BAC: New Tax Regime – Analysis, Comparison and Key Points

April 15, 2024 2229 Views 1 comment Print

Understand Section 115BAC of the Income Tax Act, 1961, and its implications for taxpayers. Explore the new tax regime, its provisions, exemptions, and deductions, helping you make informed decisions for your financial planning.

Decoding The Principal – Agent Relationship: An Analysis of Supreme Court’s Interpretation of Section 194-H of Income Tax Act, 1961

April 15, 2024 777 Views 0 comment Print

Explore the Supreme Court interpretation of Section 194-H of the Income Tax Act, 1961, analyzing the distinction between commission-based principal-agent relationships and discount-based sales.

Jewellery inherited through non-registered will qualifies as capital asset: ITAT Bangalore

April 15, 2024 942 Views 0 comment Print

ITAT Bangalore held that non-registration of will doesn’t lead to any inference against its genuineness. Thus, jewellery inherited from mother in law based on non-registered will be capital assets and sell thereof results into long term capital gain.

Tax Implications of Optionally Convertible Preference Shares

April 15, 2024 801 Views 0 comment Print

The issue involves a subscription amount of Rs. 1 Crores, with a dividend rate of 0.10% over a tenure of 20 years. This brief examines the tax implications and regulatory considerations under the Indian Income Tax Act associated with this transaction.

Deductions under Section 80: A Pathway to Tax Savings for Individuals and Businesses

April 15, 2024 11277 Views 0 comment Print

The Income Tax Act’s Section 80, which gives taxpayers several deductions to lower their taxable income, is one of its most important parts. Since its enactment, Section 80 has undergone multiple amendments and additions.

Consequences of Non-Filing or Delay in Filing of Income-tax Return (ITR)

April 15, 2024 1071 Views 0 comment Print

Here we will discuss few of the consequences of non-filing or delay in filing of ITR when you are liable to do so under the Income-tax Act (“the Act”) which will lead to paying higher taxes (including interest, penalty, Delay fees ) or face legal action by the Government: 1. Non-carry forward of losses – […]

Allowability of medical camp expenses: ITAT directs re-adjudication 

April 14, 2024 282 Views 0 comment Print

In Med-Link Devices Pvt Ltd vs DCIT case, ITAT directs re-adjudication as taxpayer fails to provide detailed expenditure of Rs. 35.2 lakhs claimed as business promotion expenses.

ITAT Directs TDS Exemption Certificate Verification: FSL Projects Limited Vs DCIT

April 14, 2024 198 Views 0 comment Print

Read the detailed analysis of ITAT’s decision directing TDS exemption verification for FSL Projects Limited Vs DCIT. Full text available.

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