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 ...
Punjab & Haryana HC rules CIT cannot direct penalty initiation via Section 263, reinforcing independence of assessment and penalty proceedings.
Madras High Court sets aside reassessment notice against Asianet Star Communications, citing non-existent entity and lack of new material.
ITAT Kolkata ruled for Weilburger Coatings, quashing an assessment order as the AO exceeded limited scrutiny scope without following CBDT conversion procedures.
Gujarat High Court held that requisition of seized cash allowed under section 132A of the Income Tax Act and directed that the income tax department shall be free to undertake all actions permitted under the law and shall deposit the entire amount in the P.D. Account.
Chhattisgarh High Court held that imposing liability u/s. 201(1) of the Income Tax Act for failure to deduct TDS without providing opportunity of being heard is not sustainable in law. Accordingly, matter remitted back for fresh consideration.
ESG principles continue to evolve globally, with a need for sector-specific standards, data monitoring, and improved reporting for sustainable growth.
Karnataka High Court held that reassessment order under section 148 of the Income Tax Act is bad-in-law since passed without following mandatory procedure of disposal of objections. Accordingly, order of reassessment set aside.
ITAT Hyderabad held that for the invocation of section 92BA of the Income Tax Act, there is no necessity for the assessee for opting/ claiming the deduction U/s. 80IA of the Income Tax Act. Accordingly, appeal of the assessee dismissed.
Delhi High Court quashes tax notices against R.C. Jewellers, rules Section 153C proceedings require incriminating material linking seized items to assessee’s income.
Bombay High Court rules rectification under Section 154 is valid even with pending appeal, if the issue hasn’t been considered and decided by CIT(A).
