The income tax act defines Income tax and laws related to income tax. It covers income tax levy, collection, administration, and recovery. Income tax acts and income tax laws get changed/updated from time to time. Read our Latest News and Updated on the Income-tax act and Articles on the income tax act to understand the income tax act and its sections. Read our articles to understand income tax act section 10, income tax act section 24, income tax act section 54, income tax act section 80c, income tax act 44ad, income tax bare act, etc.
Income Tax : The Income-tax Act, 2025 replaces the dividend-based taxation of buy-backs with capital gains taxation for ordinary shareholders, ...
Income Tax : The Calcutta High Court quashed a Section 143(3) assessment after finding that the assessee was denied a meaningful opportunity of...
Income Tax : This guide compiles the depreciation rates applicable to buildings, machinery, vehicles, computers, renewable energy assets, ships...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and c...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : The exemption for disability pension has been preserved under the Income-tax Act, 2025 to maintain the relief previously available...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : Govt. confirms no changes to the process of tax exemptions for STs in Meghalaya, clarifying no certificates are needed to claim ex...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
Income Tax : Kerala High Court kept refund adjustment in abeyance, directing disposal of the pending rectification application before recovery ...
Income Tax : The Calcutta High Court held that refund adjustment against a disputed tax demand was unsustainable when both a stay application a...
Income Tax : The High Court held that only 30 days of limitation survived after applying TOLA and Supreme Court rulings. Notices issued after e...
Income Tax : The High Court held that courts must intimate the Income Tax Department when suits involve cash transactions exceeding Rs.2 lakh. ...
Income Tax : ITAT Delhi held that for an unabated year, additions under section 153A require incriminating material. A seized loose sheet and r...
Income Tax : The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal...
Income Tax : The official copy of the Income Tax Act, 2025, is now available. Download the full text to review new tax rates, compliance rules,...
Income Tax : Summary of the Taxation Laws (Amendment) Act, 2025, covering new tax exemptions for pension funds and foreign investors, and chang...
Income Tax : Learn about the latest changes in Income Tax Rules, 2025. Key amendments include updates to ITR forms and provisions for capital g...
Income Tax : Notification 102/2024 designates Auroville Foundation as an approved institution for social science research under the Income Tax ...
The Income-tax Act, 2025 replaces the dividend-based taxation of buy-backs with capital gains taxation for ordinary shareholders, ensuring only actual gains are taxed from 1 April 2026.
Kerala High Court kept refund adjustment in abeyance, directing disposal of the pending rectification application before recovery action.
The Calcutta High Court quashed a Section 143(3) assessment after finding that the assessee was denied a meaningful opportunity of hearing. It held that procedural fairness cannot be sacrificed even where an appellate remedy exists.
This guide compiles the depreciation rates applicable to buildings, machinery, vehicles, computers, renewable energy assets, ships, and intangible assets under the Income-tax Act. It serves as a comprehensive reference for computing depreciation for tax purposes.
Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, deductions, and compliance relief. The FAQs also explain advance tax exemption and return filing provisions for eligible taxpayers.
This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and compliance requirements. It also clarifies which provision prevails when both sections apply to the same transaction.
Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income covered. Understand which provision applies to you and when these deductions cannot be claimed.
This article explains depreciation provisions under the Income-tax Act and Companies Act, including WDV, SLM, additional depreciation, and unabsorbed depreciation. The key takeaway is that correct asset classification and applicable rates are crucial for accurate tax computation and compliance.
Learn what TAN is, who must obtain it, how to apply, and where it must be quoted under the Income-tax Act. The guide also explains exemptions, duplicate TAN rules, penalties, and compliance requirements.
The Calcutta High Court held that refund adjustment against a disputed tax demand was unsustainable when both a stay application and appeal remained pending. The Court directed release of the refund with interest and barred coercive recovery until the stay application is decided.
