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income tax act

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.

Latest Articles


Section 43B(h) of Income Tax Act, 1961: Analysis & Implications

Income Tax : Explore Section 43B(h) of Income Tax Act, its applicability to Micro and Small enterprises, conditions for deduction, tax audit re...

March 20, 2024 3690 Views 0 comment Print

Section 43B(h) of the Income Tax Act – Analysis

Income Tax : Explore the amendment in Section 43B(h) of the Income Tax Act, promoting timely payments to Micro and Small Enterprises. Understan...

March 5, 2024 5457 Views 0 comment Print

What is Section 43B of Income Tax Act, 1961?

Income Tax : Discover the intricacies of Section 43B of the Income Tax Act, its conditions, exceptions, and impact on tax liability. Ensure com...

February 27, 2024 1989 Views 0 comment Print

Analysis of Clause(h) of Section 43B of Income Tax Act

Income Tax : Explore the implications of Income Tax Section 43B(h) introduced by the Finance Act, 2023, affecting timely payments to Micro & Sm...

February 4, 2024 1896 Views 0 comment Print

Leave Travel Allowance (LTA) under Section 10(5) of Income Tax Act, 1961

Income Tax : Unravel the intricacies of LTA under Section 10(5) of the Income Tax Act. Explore exemptions, key judgments like State Bank of Ind...

February 4, 2024 867 Views 0 comment Print


Latest News


5 Including Ex-ITO sentenced to 3 Yrs Jail; CBI Arrests CGST Superintendent for Bribe

Goods and Services Tax : CBI arrests a CGST Superintendent for accepting a bribe of Rs. 10,000, while designated courts in Ahmedabad and Madurai sentence f...

February 28, 2024 816 Views 0 comment Print

Join Live webinar on Taxation Critical Issues & Solution

Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...

February 15, 2024 2223 Views 0 comment Print

Representation on Updated Return Processing under Income Tax Section 139(8A)

Income Tax : Explore the challenges faced by Karnataka State Chartered Accountants Association (R) in processing updated returns under Section ...

January 19, 2024 16476 Views 1 comment Print

Request for Form 10B and Form 10BB Relaxation & due date Extension

Income Tax : Chamber of Tax Consultants seeks an extension for filing Form 10B and Form 10BB while requesting relaxation of requirements. Detai...

October 27, 2023 33318 Views 0 comment Print

Income Tax Dept searches 2 real estate groups of Bengaluru & Hyderabad

Income Tax : Income Tax Department conducts searches on two real estate groups of Bengaluru and Hyderabad Income Tax Department carried out sea...

July 14, 2022 714 Views 0 comment Print


Latest Notifications


Punjab State Faculty of Ayurvedic & Unani Systems: Income Tax Notification 11/2024

Income Tax : Explore the latest Income Tax Notification No.11/2024 regarding Punjab State Faculty of Ayurvedic and Unani Systems of Medicine. L...

January 8, 2024 267 Views 0 comment Print

Section 10(46) Income Tax Exemption for Chennai Metropolitan Water Supply & Sewerage Board

Income Tax : Explore the details of Notification No.10/2024 by the Ministry of Finance, providing income tax exemption to Chennai Metropolitan ...

January 8, 2024 243 Views 0 comment Print

Section 10(46) Income Tax Exemption for Polavaram Project Authority

Income Tax : Explore the latest Income Tax Notification (No. 9/2024) dated January 5, 2024. Details on Polavaram Project Authority's specified ...

January 5, 2024 666 Views 0 comment Print

Section 10(46) Income Tax Exemption for Haryana State Board of Technical Education

Income Tax : Explore the impact of Notification No. 8/2024 by the Ministry of Finance on Haryana State Board of Technical Education's specified...

January 5, 2024 339 Views 0 comment Print

Section 10(46) Income Tax Exemption for Karmayogi Bharat

Income Tax : Explore the impact of Notification No. 7/2024 from the Ministry of Finance, granting tax exemption to Karmayogi Bharat for specifi...

January 5, 2024 378 Views 0 comment Print


Addition u/s 69 unjustified as explanation for source of fund rejected without sufficient reasoning: ITAT Bangalore

March 16, 2024 306 Views 0 comment Print

ITAT Bangalore held that addition under section 69 of the Income Tax Act unjustified as source of fund duly explained. Rejection of the explanation relating to source of fund by the department without sufficient reason is unsustainable in law.

Kerala HC: Personal Hearing Required for IT Act Section 148A(d) Orders

March 15, 2024 261 Views 0 comment Print

Kerala High Court rules that personal hearing is mandatory before passing an order under Section 148A(d) of the Income Tax Act.

Personal Hearing Mandatory for IT Act Section 148A(d) Orders: Kerala HC

March 13, 2024 987 Views 0 comment Print

Kerala High Court dismisses Revenue appeal, upholding the necessity of a personal hearing before issuing orders under Section 148A(d) of the Income Tax Act.

Gratuity Cannot Be Disallowed for Delay in Approval of Gratuity Fund

March 13, 2024 552 Views 0 comment Print

Twinings Pvt. Ltd. vs. DCIT: ITAT Kolkata allows gratuity payment as salary expense u/s 37(1) of IT Act, rejecting disallowance u/s 36(1)(v).

Cash deposit against repayment of cash by Kolkata based companies: ITAT upholds deletion of additions

March 9, 2024 549 Views 0 comment Print

Chennai’s ITAT supports CIT(A)’s deletion of cash deposit additions under Section 69A of the Income Tax Act, highlighting evidence-based judgment.

Section 43B(h) of the Income Tax Act – Analysis

March 5, 2024 5457 Views 0 comment Print

Explore the amendment in Section 43B(h) of the Income Tax Act, promoting timely payments to Micro and Small Enterprises. Understand implications, compliance, and recommendations.

Income Tax Refund for AY 2021-22: Delayed Returns Processing

March 1, 2024 735 Views 0 comment Print

Facing a delayed income tax refund for AY 2021-22 due to technical issues? The CBDT offers relief! Electronically filed returns with refunds can now be processed, even if past deadlines were missed. Learn more and claim your refund!

5 Including Ex-ITO sentenced to 3 Yrs Jail; CBI Arrests CGST Superintendent for Bribe

February 28, 2024 816 Views 0 comment Print

CBI arrests a CGST Superintendent for accepting a bribe of Rs. 10,000, while designated courts in Ahmedabad and Madurai sentence five, including an Income Tax Officer, to three years imprisonment.

Time Limit Violation Cancels Tax Assessment Order: Madras HC

February 28, 2024 507 Views 0 comment Print

Madras High Court quashes tax assessment order due to exceeding time limit for issuing the order after receiving directions from Dispute Resolution Panel. This case highlights the importance of adhering to prescribed timelines in tax assessments.

What is Section 43B of Income Tax Act, 1961?

February 27, 2024 1989 Views 0 comment Print

Discover the intricacies of Section 43B of the Income Tax Act, its conditions, exceptions, and impact on tax liability. Ensure compliance for seamless tax filing.

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