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 ...
Understand the income tax implications of earning from YouTube in 2024. Learn about tax categories, deductions, and compliance to manage your vlogging income effectively.
Section 54 deduction was allowable on cash transactions involving residential property as it was ensured that genuine investments in residential properties were duly recognized for tax exemptions.
Read ITAT Kolkata’s full text order on Sachdev Steel Pvt. Ltd. Vs ITO. Learn why old loans converted into share allotment were deemed legitimate under the Income Tax Act.
Understand the implications of receiving a notice under Section 143(2) of the Income Tax Act. Learn how to respond, time limits, and consequences. Get detailed insights here.
Learn about the consequences of filing your ITR incorrectly and claiming a full refund. Understand Section 133(6) of the Income Tax Act, its implications, penalties, and how to respond to notices effectively.
Learn about income tax rules for Indian Army personnel: exemptions, ITR filing requirements, salary details, and benefits. Explore the tax-saving options available.
Read the detailed analysis of Orissa High Court’s decision to revise compensation under Section 44-AE of Income Tax Act in a motor accident case. Understand the implications and legal nuances involved.
ITAT Jaipur rules that AO’s non-addition of bogus LTCG does not make the order automatically erroneous. Detailed analysis of Vipul Kumar Modi vs PCIT case.
Discover Section 194R introduced by the Finance Act 2022, detailing TDS requirements on benefits or perquisites provided to residents, excluding discounts, rebates, or sales. Learn more here.
ITAT Delhi quashes reassessment proceedings against Chaudhary Stone Crusher, ruling on sale of partners property before IT notice under section 148.
