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income tax

India's income tax laws are subject to periodic revisions. Read Our Latest News and Updated on Income-tax, Articles on income tax India to understand income tax slab, Income tax e-filing, income tax refund, income tax return, income tax act, income tax e payment, etc

Latest Articles


Monthly (August-2024) Legal Obligations + Legal updates for India

CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...

August 13, 2024 29319 Views 1 comment Print

Tax deduction at Sources (TDS) on Commercial Business Income

Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...

July 17, 2024 1926 Views 0 comment Print

How to calculate Turnover of Futures & Options for Taxation

Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...

July 8, 2024 8049 Views 0 comment Print

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

Income Tax : Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert ana...

July 1, 2024 5751 Views 0 comment Print

Due Date Calendar June 2024

CA, CS, CMA : Stay compliant with tax obligations in May 2024. Check the due dates for income tax, GST, PF, ESI, and more. Get organized with th...

June 3, 2024 7650 Views 0 comment Print


Latest News


Budget Memorandum 2024 & suggested Amendments to Income-tax Act 1961

Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...

June 20, 2024 3441 Views 0 comment Print

Live Webinar on Section 43B(h) of Income Tax Act, 1961- MSE Payment

Income Tax : Live Webinar on Section-43B(h) of Income Tax Act, 1961 read with Section-2, 7-8, 15-16-17 of MSMED Act 2006 on 03-03-2024- Sunday�...

February 26, 2024 10059 Views 0 comment Print

Join Live webinar on Taxation Critical Issues & Solution

Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...

February 15, 2024 2457 Views 0 comment Print

Join Live Webinar on Understanding TDS on Purchase/Sale of Property

Income Tax : Join the exclusive webinar on Understanding TDS on Purchase/ Sale of Property under Section 194IA of Income Tax Act, 1961. Many ta...

February 15, 2024 4353 Views 0 comment Print

CBDT notifies Income Tax Return Forms for AY 2023-24 well in advance

Income Tax : CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2...

February 15, 2023 2967 Views 0 comment Print


Latest Judiciary


Acceptance or Rejection of Books: An Analysis

Income Tax : Explore the impact of book acceptance or rejection on taxation with insights into grounds for rejection and factors favoring accep...

May 13, 2024 972 Views 0 comment Print

Denial of  Sections 80G & 12A Registration: Kerala HC directs reconsideration of Application

Income Tax : Kerala High Court overturns rejection of Snehatheeram Charitable Trust's application for 80G certificate under Income Tax Act, 196...

April 12, 2024 1113 Views 0 comment Print

Vehicle Accident Compensation: HC directs consideration of Average Income

Corporate Law : Karnataka High Court considers income variations in compensation assessment. Detailed analysis of Jayashree Vs Mahaningappa & Othe...

March 31, 2024 402 Views 0 comment Print

Addition u/s 68 deleted as genuineness and creditworthiness of lender proved: ITAT Delhi

Income Tax : ITAT Delhi's order on Trident Towers Pvt. Ltd vs ACIT addresses the deletion of addition under section 68 of the Income Tax Act, c...

March 18, 2024 588 Views 0 comment Print

No Income Tax on Interest-Free Refundable Project Deposit: Andhra Pradesh HC

Income Tax : Explore the Coastal Ceramics vs Union of India case where AP High Court rules that an interest-free refundable security deposit fo...

January 5, 2024 1032 Views 1 comment Print


Latest Notifications


Income Tax Exemption for West Bengal Transport Workers Social Security Scheme

Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...

August 12, 2024 78 Views 0 comment Print

AIMCo India Infrastructure Pension Fund Exemption Details

Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...

July 19, 2024 444 Views 0 comment Print

Notification No. 92/2024-Income Tax Dated: 18th July, 2024

Income Tax : Ministry of Finance amends tax exemption notification, extending the eligible investment deadline to 31st March 2025 under section...

July 18, 2024 201 Views 0 comment Print

Notification No. 91/2024-Income Tax Dated: 18th July, 2024

Income Tax : CBDT Notification 91/2024 extends the deadline for Section 10(23FE) tax exemptions to March 31, 2025. Discover the key changes and...

July 18, 2024 132 Views 0 comment Print

Notification No. 88/2024-Income Tax Dated: 18th July, 2024

Income Tax : Notification 88/2024 amends Income Tax regulations, extending the deadline from March 31, 2024, to March 31, 2025. Updated by CBDT...

July 18, 2024 129 Views 0 comment Print


Bank Account disclosed in ITR found in search cannot be treated as Incriminating Material

November 29, 2019 1509 Views 0 comment Print

The issue under consideration is whether the addition made by AO u/s 68 by considering the share application money received by assessee as unexplained cash credit is justified in law?

No section 271(1)(c) penalty for mere discrepancies Found during Survey

November 29, 2019 3846 Views 0 comment Print

Rajendra Shringi Vs DCIT (ITAT Jaipur) The issue under consideration is whether the penalty order passed u/s 271(1)(c) is justified in law? ITAT states that no doubt, the discrepancies were found during the survey. This has yielded income from the assessee in the form of amount surrendered by the assessee. Presently, ITAT are not concerned […]

Depreciation allowable on Non-Compete Fees – Section 32

November 28, 2019 690 Views 0 comment Print

DCIT Vs IMCD Group B.V. India Branch (ITAT Mumbai)- The issue under consideration is whether the depreciation is allowed on Non- Compete Fees under section 32 of the Income Tax Act?

Section 263 Order on Non-Existent Entity is unsustainable

November 22, 2019 1140 Views 0 comment Print

The issue under consideration is whether Passing of revisionary order against amalgamating company which was not in existence on the date of order is justified in law?

Sale of tea manufactured from leaves purchased from third parties is agricultural activity & eligible for deduction of 60%

November 20, 2019 3957 Views 0 comment Print

The issue under consideration is whether income from sale of tea manufactured and sold from tea leaves purchased from third parties was from non-agricultural activity and therefore, was not eligible for deduction of 60%?

TDS u/s 194J Applicable on Payments by TPA to Hospitals on behalf of Insurance Companies

November 19, 2019 8394 Views 0 comment Print

The issue under consideration is whether TDS u/s 194J will be applicable on payments made by TPA to hospitals on behalf of insurance companies for settling medical or insurance claims?

Interest on Bank Deposit earned by Assessee Engaged in Money Lending is Business Income

November 19, 2019 870 Views 0 comment Print

whether the interest on bank deposit earned by assessee engaged in money lending covered under head of Business Income or Income from Other Sources?

No section 92CA(3) Adjustment for Corporate Guarantees

November 6, 2019 2730 Views 0 comment Print

The issue under consideration is whether the deletion of adjustment made u/s 92CA(3) of the Act on account of interest on loan and on account of corporate guarantees is justified in law?

Section 56(2)(vii)(b) Addition by adopting Land Value of Adjacent Area is unjustified

November 5, 2019 1542 Views 0 comment Print

The issue under consideration is whether the AO is correct in adopting land value of adjacent area, just because the colony is adjacent to a road, which has a higher guideline value is justified in law and in ignoring the specific guideline value fixed by the Government in respect of specific colony or flat?

Section 10AA Deduction allowable on enhanced profits after considering section 69C disallowance

November 4, 2019 3150 Views 0 comment Print

ITAT Jaipur ruling on Amrapali Exports Vs DCIT case. Can deduction u/s 10AA be claimed on enhanced profits after disallowance u/s 69C? Read now.

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