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 : Learn what TAN is, who must obtain it, how to apply, and where it must be quoted under the Income-tax Act. The guide also explains...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and c...
Income Tax : Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income c...
Income Tax : This article explains depreciation provisions under the Income-tax Act and Companies Act, including WDV, SLM, additional depreciat...
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 Calcutta High Court held that refund adjustment against a disputed tax demand was unsustainable when both a stay application a...
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 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 ...
ITAT Hyderabad held that assessee neither before AO nor before CIT(A) could produce any evidence to support his astronomical agricultural income. Accordingly, in absence of evidence, addition sustained.
ITAT Delhi held that interest receipt under Technology Upgradation Fund Scheme (TUFS Scheme) being capital in nature needs to be excluded while working out the book profits under section 115JB of the Income Tax Act.
ITAT Pune held that penalty under section 271AAA of the Income Tax Act leviable as assessee failed to substantiate the source as well as the manner of the undisclosed income.
ITAT Mumbai held that effluent water treatment shall be considered as water treatment plant and accordingly, the same is eligible for deduction under section 80IA of the Income Tax Act.
ITAT Bangalore held that common interest earned from investment in co-operative banks is not eligble for deduction u/s 80P(2)(a)(i) or 80P(2)(d) of the Income Tax Act.
ITAT Delhi held that as per definition of block of assets u/s. 43(6)(c) of the Income Tax Act there is no condition that the plant and machinery must have been put to use.
ITAT Delhi held that notional interest cannot be taxed as income as bank statement of the foreign bank account doesn’t show that any interest has been credited.
ITAT Ahmedabad held that unsecured loan taken at higher rate for commercial expediency is admissible under section 57(iii) of the Income Tax Act.
ITAT Mumbai held that assessment order passed u/s 143(3) beyond time limit prescribed under section 153 of the Income Tax Act is time barred and bad in law.
ITAT Pune held that contribution of undivided title and rights in the land as share of capital in AOP is taxable under section 45(3) of the Income Tax Act.
