The ITAT held that revisional powers under Section 263 cannot be exercised when the Assessing Officer has...
Income Tax
Income tax in India is a direct tax imposed on individuals, businesses, and other entities based on their income. Understanding income tax is essential for proper financial planning and compliance with government regulations. This section provides comprehensive resources covering income tax slabs, ITR filing, deductions, exemptions, and the latest updates for FY 2025–26.
Whether you are a salaried employee, freelancer, or business owner, you can explore detailed guides below to learn how to calculate your tax, file returns, and maximize eligible deductions. Stay informed with the latest income tax rules, deadlines, and expert insights to manage your taxes efficiently.
The Finance Act 2023 introduced a 12.5% LTCG tax without indexation as an alternative to 20% with...
The benchmark price was incorrectly determined because material economic differences between Thailand and Vietnam markets were not...
The Tribunal ruled that unverified KOT data and handwritten loose sheets are insufficient to establish unaccounted sales....
The court held that a retracted statement by a trustee alleging capitation fee collection cannot justify tax...
The tribunal held that disallowance under Section 14A cannot be made when the assessee has not earned...
The Bombay High Court set aside reassessment, demand, and penalty proceedings after finding that the notice under...
The Tribunal found that the authority misapplied the law by relying on provisions relating to donor deductions...
Rules 307–311 of the Draft Income-tax Rules, 2026 outline how pension funds must purchase annuities, restrict commutation,...
Draft Income-tax Rules 2026 prescribe definitions, trust conditions, investment rules, and limits on employer contributions for approved...