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 ...
Only specified applicants such as non-residents, certain residents, and public sector companies can apply. The ruling clarifies tax implications within defined eligibility conditions.
The framework clarifies that search operations can be initiated only when authorities have credible information and recorded reasons. It ensures that such powers are exercised with statutory safeguards and not arbitrarily.
The framework outlines penalties for defaults like under-reporting, TDS failures, and non-compliance, while allowing relief where reasonable cause is proven. It balances enforcement with procedural safeguards.
Income without satisfactory explanation is taxed at a special high rate under Section 115BBE. The provisions place strict liability on taxpayers to justify the nature and source of funds.
The framework outlines when TCS must be collected on goods, services, and remittances. It clarifies applicable rates, timing, and compliance requirements under tax law.
The framework clarifies that refunds can be claimed only through valid ITR filing and mandatory verification. It emphasizes procedural compliance and timely filing as key conditions.
The framework clarifies taxation of non-residents based on income accrued or received in India. It outlines applicable tax rates, DTAA relief, and compliance requirements under the Income-tax Act.
The document outlines the structured process for determining total income and tax liability. It emphasizes stages including residential status, income computation, and final tax calculation.
The law mandates that legal representatives handle tax compliance for deceased persons. It ensures continuity of assessment and recovery from the estate.
The framework clarifies that companies must pay MAT where normal tax liability is lower than 15% of book profit. It establishes MAT as a minimum tax safeguard, ensuring consistent tax contributions regardless of reported income.
