#income tax act
Log in to FollowThe 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 from Other Sources – Method of Accounting – Concealment Penalty – Provisional Attachment

Direct Taxes ‘Manufacture’ – Reassessment – Stamp Valuation – Service of Notice – Document Identification Number

Post budget Weighted Deduction for in-house research and development
![Taxability of gift as Income from Other Sources u/s. 56 [2][vii]](https://taxguru.in/wp-content/uploads/2026/07/Income-Tax-1.jpg)
Taxability of gift as Income from Other Sources u/s. 56 [2][vii]

Section 56(2) Deemed Gifts & transfer of movable & immovable property

AAR on Prima facie satisfaction for initiation of penalty proceedings required even post-amendment

AAR on Payment for end to end international long distance telecom services not taxable

Deduction u/s. 80-IB(10) on YOY basis to builders/developers showing profit on partial completion method

Expenditure on replacement of machinery is capital expenditure

The Direct Taxes Code Bill, 2009 – Minimum Alternate Tax on Companies

The Direct Taxes Code (DTC) Bill 2009 – Capital Gains Tax

Outright purchase of plant know-how in the form of technical / engineering data, design, drawings is not royalty subject to withholding taxes

Analysis of Circular no. 7/2009 issued to withdraw earlier circular pertaining to non-resident taxation

