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 issue was the complex and scattered TDS/TCS provisions under the old law. The new Act consolidates multiple sections into a si...
CA, CS, CMA : The update discusses GST rulings on ITC and refunds, income tax relief interpretations, and insolvency reforms. It also covers dis...
Income Tax : The ruling confirms that in matters of undisclosed foreign assets, the Black Money Act prevails over general tax provisions. This ...
Company Law : The Court held that anonymous political donations infringe voters’ right to information. The ruling mandates full disclosure of ...
Income Tax : This covers how business income is computed under the Income-tax Act, including normal and presumptive methods. It explains deduct...
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 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 Tribunal found that the AO had examined land records, crop sale documents, and other evidence before making the assessment. Si...
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 ...
Mumbai ITAT upholds deletion of Rs 1.96 crore tax addition in Dinesh Rohira case, ruling third-party evidence needs corroboration.
ITAT Ahmedabad partly sets aside PCIT order, rules PCIT cannot issue mandatory direction to add income for accommodation entries under Section 263.
Learn about the latest changes in Income Tax Rules, 2025. Key amendments include updates to ITR forms and provisions for capital gains. Effective April 1, 2025.
ITAT Delhi held that addition under section 68 of the Income Tax Act by treating LTCG as bogus merely on the basis of assumption and conjecture is not sustainable in law since purchase and sale of shares were made via banking channel.
ITAT Pune held that non-inclusion of disallowance u/s. 43B while filing income tax return is bona fide and inadvertent error. Accordingly, imposition of penalty under section 270A for bona fide mistake without intent to evade payment of tax is not justifiable.
ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable as assessment made by AO after proper verification of evidences. Further, assessment order is neither erroneous nor prejudicial to interest of revenue.
ITAT Pune held that Association of Person (AOP) taxable at Normal Rates instead of Maximum Marginal Rate (MMR) as provisions of section 167B of the Income Tax Act are not applicable. Accordingly, appeal of assessee allowed.
Gujarat High Court held that re-opening of assessment solely relying upon information made available on the insight portal, without forming any independent opinion, is unsustainable in law and hence liable to be quashed.
Understand audit trail requirements under various laws in India, including the Companies Act, Income Tax, GST, and SEBI regulations, with an example of P2P process.
ITAT Mumbai held that disallowance of claim of depreciation in respect of 3G spectrum charges is not justified. Accordingly, depreciation on 3G spectrum charges allowed under section 32(1)(ii) of the Income Tax Act.
