Read all Latest Updates on and about Income-tax Act

Begin typing your search above and press return to search.

Home
»
Income-tax Act

Understanding Shift in Surcharge, Rebate, and Marginal Relief Provisions under New Income Tax [Old vs. New Income Tax Act Series - Article 5]

It condenses 47 chapters and 819 sections into 23 chapters and 536 sections, respectively. Through increased openness, decreased litigation, and...

Books of Account must be Rejected u/s 145(3) before Unexplained Cash Additions: ITAT Deletes ₹64...

Why Should Parents-in-Law Pay Income Tax on Gifts Given to a Daughter-in-Law?

CBDT Redefines Jurisdiction of 47 Appeals Commissioners for Search and Survey Related Assessments...

New ITR Forms Under Income-tax Act, 2025, CBDT Committee in wide Discussions: Know Release of New...

ITAT Sides with Clothing Firm, Rules Double Taxation on Already Declared Sales is Illegal [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal (ITAT) in Ahmedabad bench has quashed a major tax addition made against a Gujarat-based company, holding that the tax department cannot...

CBDT Grants Income Tax Exemption to U.P. Awas Evam Vikas Parishad u/s 10(46A) [Read Notification]

The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 153/2025 [S.O. 4680(E)] dated October 15, 2025, granting income tax exemption to the U.P. Awas Evam...

Income Tax Dept Releases Excel Utility of ITR-7 for AY 2025-26

The Income Tax Department has released the Excel Utility of ITR-7 for Assessment Year (AY) 2025-26 on 21st August 2025. Along with the schema and validation files have also been made available for ...

CBDT Notifies Changes to Form 10CCF w.r.t. Calculation of IFSC’s Gross Income and Profit & Gains [Read Notification]

The Central Board of Direct Taxes (CBDT) has notified amendments to Form 10CCF under the Income-tax Rules, 1962, specifically on the computation of gross income and profit & gains for...

TN Electricity Regulatory Commission Gets Income Tax Benefits on Specified Income

The Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), through Notification No. 134/2025 dated 19th August 2025, has granted the Tamil Nadu Electricity Regulatory Commission...

ITR Filing 2025: ICAI releases Checklist for Preparation of ITR-1 and ITR-4 [Read Checklist]

The Institute of Chartered Accountants of India ( ICAI ), through its Direct Taxes Committee, has released a comprehensive Checklist for Preparation of Income Tax Return ( ITR ) Form 1 and 4 for...

CBDT Issues Clarification on Interest Waiver u/s 201(1A)(ii)/206C(7) [Read Circular]

The Central Board of Direct Taxes (CBDT) has issued a clarification dated July 1, 2025, regarding the applicability and operational scope of Circular No. 5/2025, which was issued earlier on March...