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.
CA, CS, CMA : Summary of income tax, GST, customs, SEBI, RBI, and IBC updates for the week ending March 2, 2025. Includes regulatory changes, co...
Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...
Income Tax : Explore income tax benefits for senior citizens in India, including tax slabs, exemptions, deductions, and key provisions under th...
CA, CS, CMA : A concise summary of notifications and circulars for the week ending 16th Feb 2025, covering Income Tax, GST, SEBI, RBI, and more....
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
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...
CA, CS, CMA : KSCAA addresses glitches in the Income Tax portal, highlighting challenges faced by taxpayers and professionals, in a representati...
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...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : The Petitioner, through this Writ Petition challenges the actions of the Opposite Parties in depriving the Petitioner of access to...
Income Tax : ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable...
Income Tax : ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Income Tax : ITAT Mumbai held that passing of assessment order u/s 147 r.w.s. 144B of the Act without disposing the objections raised by the as...
Income Tax : ITAT Rajkot remanded the matter as lower authority has not exercised their power to enquiry in section 131 and 133(6) of the Act t...
Income Tax : Notification 102/2024 designates Auroville Foundation as an approved institution for social science research under the Income Tax ...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Income Tax : CBDT issues guidelines for IT verification under Section 144B(5), detailing circumstances for digital and physical checks, effecti...
Income Tax : Explore Notification No. 96/2024 by the Ministry of Finance, detailing income specifics for SAMEER Mumbai under Income Tax Act Cla...
Income Tax : Explore Income Tax Notification No. 94/2024 dated 24th July, 2024, detailing tax exemptions for Punjab Skill Development Mission S...
Explore the impact of Notification No. 1/2024 by the Ministry of Finance on Bellary Urban Development Authority’s specified income under Income Tax Act 1961.
Gujarat High Court rules in Amit Hospital Pvt Ltd vs PCIT, stating that Section 119(2)(b) applications can’t be rejected based on vague reasons for Income Tax Act, 1961.
No person should accept any loan or deposit of a sum of Rs.20,000/- or more otherwise than by an account payee cheque or account payee bank draft. Where a person advance cash more than Rs.20,000/- to another person, restriction on cash advances was, in fact, on the taker and not on the person who made an advance.
Kerala High Court instructs prompt consideration of stay application in tax dispute involving non-filing of income return under Section 139 of Income Tax Act.
Delhi High Court ruling favors Jite Shipyard Ltd, limiting deductions for expenses related to income other than gross income. Analysis of AY 2015-16 case.
आयकर विभाग के सलाह के अनुसार, उच्च-मूल्य लेनदेन में विसंगतियों की समीक्षा करें और आने वाले वर्ष के लिए सहीता सुनिश्चित करने के लिए प्रयासरत रहें।
The impugned notices and orders were issued by the respondents/revenue admittedly subsequent to the public announcement under Section 15 of the Code regarding CIRP process pertaining to assessee and it was only subsequent to approval of the Resolution Plan of the Tribunal that Revenue issued the impugned Assessment Order and Demand Notice.
ITAT Hyderabad held that transfer of assets of the partnership to the retiring partners would amount to the transfer of the capital assets in the nature of capital gains and business profits which is chargeable to tax under section 45(4) of the Income Tax Act.
Read about Punnorath Meethal Sankaran vs ITO case: Kerala HC sets aside order rejecting condonation of delay in filing income return. Jurisdiction issue in refund claims above 10 Lakhs.
Explore the Kerala High Court’s judgment on IBS Software’s plea for immunity under Section 270AA of the Income Tax Act. Detailed analysis of the rejection and legal implications.
