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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 (February 2025) Legal Obligations + Legal updates for India

CA, CS, CMA : Stay updated with the latest legal compliances and key deadlines for November 2024 in India, including FEMA filings and ITR submis...

February 17, 2025 33681 Views 1 comment Print

February 2025 Due Date Calendar for Tax & Compliance

CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...

February 8, 2025 14280 Views 0 comment Print

Issue with Rebate under Section 87A for Capital Gain Tax: A Detailed Look

Income Tax : Explore why the Income Tax Department is disallowing Section 87A rebate on capital gains under the new tax regime, leading to unex...

January 9, 2025 59745 Views 26 comments Print

Maximize Income Tax deductions with Health Insurance: Section 80D explained

Income Tax : Learn how Section 80D offers additional deductions on health insurance premiums for individuals and HUFs. Maximize tax savings und...

September 27, 2024 2715 Views 0 comment Print

Capital Gain Tax Exemption on Property under Redevelopment

Income Tax : Learn about capital gain tax exemptions on property under redevelopment, including eligibility under Section 54 and implications f...

September 23, 2024 31251 Views 5 comments Print


Latest News


No Corporate Tax Written Off by Government (FY 2019-20 to FY 2024-25)

Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....

December 11, 2024 630 Views 0 comment Print

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 3663 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- SundayÂ...

February 26, 2024 10251 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 2571 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 4461 Views 0 comment Print


Latest Judiciary


Lease Rent from Industrial Park Property Taxable as Business Income: Madras HC

Income Tax : Madras High Court held that lease rent received from letting out property in industrial park is chargeable to tax under the head â...

September 21, 2024 618 Views 0 comment Print

Initiation of Section 153C Proceedings Beyond Six Years Impermissible: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that AO had no jurisdiction to initiate proceedings u/s. 153C of the Income Tax Act beyond permissible period ...

August 26, 2024 414 Views 0 comment Print

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 1176 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 1899 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 489 Views 0 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 216 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 642 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 321 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 288 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 258 Views 0 comment Print


Section 37: Mark to Market Loss due to Foreign Exchange Allowed

October 21, 2020 6366 Views 0 comment Print

The issue under consideration is whether the addition of ‘Mark to market’ Loss made by AO on account of disallowance of loss on foreign exchange forward contract loss is justified in law?

Section 132(4) statement & notings found during search sufficient to invoke section 153A jurisdiction

October 21, 2020 4335 Views 0 comment Print

The issue under consideration is whether the assessee is correct in stating that cognizance taken under section 153A of the Act is illegal at the end of the A.O.?

Section 14A disallowance cannot exceed amount of exempt Income

October 20, 2020 1914 Views 0 comment Print

The issue under consideration is whether the disallowance u/s 14A can exceed the amount of exempt income? In the light of the order of M/s.Century Real Estate Holdings Pvt. Ltd. v. ACIT (supra), ITAT hold that the disallowance u/s 14A of the I.T.Act cannot exceed the exempt income.

No TDS u/s 194I on Payment for Acquisition of Leasehold Rights over Immovable Property

October 16, 2020 25044 Views 0 comment Print

The issue under consideration is whether payment for the acquisition of leasehold rights over immovable property is rental income and hence eligible for TDS u/s 194I ?

Income for Sale of Specialized Software Maintenance & Support Services is Not a Royalty

October 16, 2020 1554 Views 0 comment Print

The issue under consideration is whether the Income received for sale of specialized software and maintenance and support services is considered as ‘Royalty’ as per India-Finland Tax Treaty?

No Section 194I TDS on Rent if Accommodation Services taken on Casual Basis

October 16, 2020 58326 Views 0 comment Print

The issue under consideration is whether the TDS u/s 194I is applicable on the rent if the accommodation services were taken on a casual basis?

No TDS u/s 195 levied on Placement Services since it is Not Covered under Technical Service

October 16, 2020 8238 Views 0 comment Print

The issue under consideration is whether the Payment towards placement services is covered under technical service and TDS u/s 195 is applicable on the same?

Interest received from Jaipur Central Co-op Bank eligible for section 80P(2)(d)deduction

October 15, 2020 1854 Views 0 comment Print

The issue under consideration is whether the interest received by the assessee from the Cooperative Bank is eligible for deduction under section 80P(2)(d) of the Income Tax Act?

Container Freight Station Constitutes Inland Port Hence Eligible for Deduction u/s 80IA(4)

October 15, 2020 1701 Views 0 comment Print

The issue under consideration whether deduction under section 80IA(4) can be claimed on Container Freight Station (CFS) as it constitutes an ‘inland port’? Container Freight Station Constitutes as Inland Port Hence Eligible for Deduction u/s 80IA(4).

Roaming Charges Not Liable for TDS under section 194J

October 15, 2020 1302 Views 0 comment Print

The issue under consideration is whether the roaming charges paid by the assessee to the other telecom service provider are in the nature of ‘Fee for technical Services’ and hence liable for deduction of tax at source u/s 194J of the Act?

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