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 ...
The ITAT Delhi upholds the disallowance of ‘commission on sales’ due to failure to demonstrate the actual role played by commission agents in procuring sales.
Kerala High Court directs the prompt consideration of an appeal in an Income Tax case, emphasizing the need to decide it within six months to halt ongoing recovery proceedings.
Article explains What is Belated Return, limitations of filing Belated application, consequences when submitting Belated return and Steps to file Belated Return
Unravel complexities of accounting, audit, and taxation in Future and Option transactions. Learn nuances of declaring profits and losses, maintaining books, and impact on income tax returns.
The ITAT Hyderabad quashes an addition under Section 115BBE due to an elderly assessee’s inability to recall income details within the specified time, highlighting the importance of considering age-related factors.
Read the Kerala High Court’s judgment on Section 220(2) of the Income Tax Act and its non-retrospective effect on tax interest in Catherine Thomas vs. Principal Chief Commissioner of Income Tax.
Kerala High Court empowers the Commissioner of Income Tax to condone delays in filing income tax returns under Section 119(2)(b) of the IT Act. Details of the judgment.
In a recent judgment, Kerala High Court annuls an assessment order, citing the importance of considering the assesse’s reply before passing judgments.
ITAT Ahmedabad has allowed a review petition in the Swing Infraspace case, overturning disallowances of expenses. Read the full text of the order here.
DCIT vs. Dhani Services Ltd.: ITAT Mumbai upholds the deletion of disallowance under Section 14A of the Income Tax Act, along with ESOP expenditure.
