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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 14277 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 59655 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 31224 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


Expenditure on Lease Premises towards Civil Furniture etc. is Capital Expenditure

October 15, 2020 6594 Views 0 comment Print

The issue under consideration is whether the expenditure incurred by the assessee on the lease premises towards civil furniture, etc. is a revenue expenditure or capital expenditure?

Conditions of Rule 18DA(8A) can be Looked into Only by Prescribed Authority & Not by the AO

October 14, 2020 699 Views 0 comment Print

The issue under consideration is whether the Tribunal is right in holding that the conditions of Rule 18DA(8A) can be looked into only by the prescribed authority and not by the Assessing Officer?

Tax Audit – New clauses inserted in form 3CD wef 01.10.2020

October 13, 2020 93828 Views 3 comments Print

Tax Audit -New clauses inserted by Income Tax (22nd Amendment) Rules 2020 in form 3CD with effect from 01st October 2020 1. As per the Notification No. 82/2020/F. No. 370142/30/2020-TPL dated 1st October 2020 (Notification) issued by the Central Board of Direct Taxes (CBDT), the Income Tax (22nd Amendment) Rules 2020 have been notified effective […]

Funds raised by FCCB Buy Back at Discounting Rate is Not Business Income

October 13, 2020 741 Views 0 comment Print

The issue under consideration is whether the funds raised from buy back of FCCB at discounting rate is  considered as business income and tax u/s 28 of the Income Tax Act?

TPA is required to Deduct TDS u/s 194J on Payments to Hospitals

October 13, 2020 16929 Views 0 comment Print

The issue under consideration is whether Third Party Administrator (TPA) is required to deduct tax at source (TDS) on payments made to hospitals under Section 194J of the Income Tax Act?

TPA to Deduct section 194J TDS on Payments to Hospitals

October 12, 2020 5940 Views 0 comment Print

The issue under consideration is whether a TPA, was required to deduct tax at source on payments made to hospitals under Section 194J of the Act?

HC Remand Back the case to AO for Detailed Enquiry of Disallowance u/s 36(1)(iii)

October 12, 2020 1890 Views 0 comment Print

The issue under consideration is whether disallowance made u/s 36(1)(iii) is to be allowed when the Assessee has diverted interest bearing funds to its sister concern without charging any interest?

Additional claim can be made before ITAT despite no such claim in Return of Income

October 11, 2020 7182 Views 0 comment Print

The issue under consideration is whether submitting additional claims before tribunal, which is not claim in return of income will be sustain in law?

Activities promoting Handloom Sector Eligible for section 11 & 12 Exemption

October 11, 2020 1749 Views 0 comment Print

The issue under consideration is whether the activities involved towards promotion of handloom sector is eligible for exemption under section 11 and 12 of Income Tax Act?

Assessment Order u/s 143(3) Passed in Clear Breach of Mandatory Section 144C is Void ab Initio

October 9, 2020 6522 Views 0 comment Print

The issue under consideration is whether the assessment order u/s 143(3) made by the AO in clear breach of the mandatory provisions of Section 144C is merely erroneous or is void ab initio?

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