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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 33675 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 14274 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 59607 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 31179 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


Depreciation cannot be disallowed for temporary closure of Business

September 21, 2020 4062 Views 0 comment Print

The issue under consideration is whether disallowance of depreciation on car and interest on car loan by AO is justified in law?

ITAT Allowed Exemption not claimed in ITR filed due to Inadvertence

September 21, 2020 1323 Views 0 comment Print

whether the additional ground submitted by the assessee should be allowed by the tribunal by considering that the assessee has not claimed exemption in the return filed due to inadvertence?

Resultant Company cannot claim Demerger Expenses U/s. 35DD

September 21, 2020 4992 Views 0 comment Print

The issue under consideration is whether the deduction u/s 35DD for demerger expenses is allowed to be claimed by resultant demerged company?

Deeming Fiction of Sec 50C can’t be brought into Section 54/54F Exemption

September 21, 2020 3339 Views 0 comment Print

The issue under consideration is whether the Section 50C need to be complied at the time of computation of exemption u/s 54 or 54F?

Section 69 addition not justified if Assessee Explains source of Deposits in Bank based on Cash Book

September 21, 2020 4914 Views 0 comment Print

The issue under consideration is whether the addition made u/s 69 by AO due to undisclosed sources of cash deposits in bank account is justified in law?

No section 271B Penalty for Not Getting Books Audited if Reasonable Cause exist

September 21, 2020 10368 Views 0 comment Print

whether assessee can be held liable u/s 271B of the Act for not getting the books audited during the years when the advances were received from customers under percentage completion method?

Disallowance of Expenditure u/s 14A by AO without Recording a Satisfaction is Not Justified

September 21, 2020 1929 Views 0 comment Print

The issue under consideration is whether the disallowance of expenditure u/s 14A by AO without recording a satisfaction is justified in law?

Interest Paid on Security Deposit obtained from Members of Society is allowed u/s 57(iii)

September 21, 2020 5871 Views 0 comment Print

The issue under consideration is whether the Interest paid on security deposit obtained from the members of society is allowed as expense u/s 57(iii) of the Act?

Works of Supply of Water, Disposal of Sewerage Considered as Charitable Activities & Eligible for Exemption u/s 11

September 21, 2020 1155 Views 0 comment Print

The issue under consideration the activity of preparation of development plans and to execute works in connection with supply of water, disposal of sewerage and provisions of other services is considered as “charitable activities” and eligible for exemption u/s 11?

Outstanding Receivables are Part of Working Capital Hence No Separate Benchmarking Required for them

September 19, 2020 1593 Views 0 comment Print

The issue under consideration is whether the addition made on imputing interest on outstanding receivable from associated enterprises as its separate international transaction and its determination of ALP is justified in law?

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