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 : 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 : Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income c...
Income Tax : This article explains depreciation provisions under the Income-tax Act and Companies Act, including WDV, SLM, additional depreciat...
Income Tax : 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...
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 : 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 issue was whether reassessment could be initiated by a jurisdictional officer after faceless schemes became mandatory. The Tri...
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 Kerala High Court clarified eligibility for Income Tax Settlement applications, quashing a CBDT condition and allowing a delayed filing due to Supreme Court’s COVID-19 limitation extension.
Learn how Section 54F can help you save tax on long-term capital gains from assets like land or gold by investing in a residential property. Discover key conditions and how even unplanned home purchases can lead to significant tax exemptions.
Notices issued to a taxpayer on the ground that the Income Tax Department failed to issue them in compliance with the mandatory faceless assessment procedure, thus disregarding binding judicial precedents that have adjudicated on the matter was invalid.
Learn how to register as a Representative Assessee on the Income Tax e-Filing portal to fulfill tax obligations for others, including deceased individuals, minors, and non-residents.
Bombay High Court held that the entire amounts of insurance claim received for death of horses is to be treated as capital receipt governed only by provisions of Section 45(1) of the Income Tax Act. Hence, the same is not chargeable to tax. Accordingly, appeal allowed.
These appeals filed by the assessee impugn the order dated 30.04.2021 passed by a learned Single Judge of this Court, allowing the petitions that were filed by the Commissioner of Wealth Tax and Commissioner of Income Tax, viz., respondent No.1 herein.
Understand the taxability of royalty income for German companies in India, DTAA applicability, and the procedure for claiming tax credits for TDS paid in India against German tax obligations.
ITAT Allahabad held that in the absence of any comparable cases, the past history of the assessee, which has been accepted in many assessments under section 143(3) of the Act, cannot be overlooked. Accordingly, directed to assess net profit @3.5% instead of 7%/5% of contractual receipts.
ITAT Mumbai sets aside reassessment against Ramchand Jhamtani (AY 2014-15), ruling Section 148 notice time-barred. Decision relies on Supreme Court’s Ashish Agarwal and Rajeev Bansal judgments.
Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in India.
