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Income Tax

Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.

Latest Articles


Year-End Tax Checklist: Wrap Up Your Finances by March 31st

Income Tax : Plan your finances before March 31 with this year-end tax checklist. Learn about old vs. new tax regimes, investments, deductions,...

March 4, 2025 249 Views 0 comment Print

No Bad Debt Deduction for Non-Regular Business Activity: Delhi HC

Income Tax : Delhi HC ruled WGF Financial Services can't claim bad debt deduction under Sec. 36(1)(vii) as furnishing guarantees wasn't its reg...

March 4, 2025 102 Views 0 comment Print

Switzerland Suspends Unilateral MFN Clause Application in Tax Treaty with India

Income Tax : Switzerland halts the unilateral application of the MFN clause under its tax treaty with India from 2025, following the Indian Sup...

March 4, 2025 66 Views 0 comment Print

151 FAQs on Finance Bill (Budget) 2025 in India

Income Tax : Explore 151 FAQs on Finance Bill 2025, covering tax provisions, IFSC benefits, TDS/TCS, transfer pricing, and more for informed fi...

March 4, 2025 183 Views 0 comment Print

Search and Seizure: GST vs. Income Tax Key Differences

Income Tax : Compare GST and Income Tax search and seizure processes, highlighting key differences in scope, authority, and taxpayer rights. Le...

March 4, 2025 378 Views 0 comment Print


Latest News


Include ‘Cost Accountant’ in definition of ‘Accountant’ under Income Tax Bill 2025: ICMAI

Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...

February 21, 2025 10311 Views 0 comment Print

Key Highlights of Finance Bill 2025: Income Tax Changes

Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...

February 19, 2025 11295 Views 0 comment Print

ICMAI on Non-inclusion of ‘Cost Accountant’ in Income Tax Bill 2025

Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...

February 17, 2025 20193 Views 3 comments Print

50 Corrections in Income-tax Bill, 2025: Lok Sabha Update

Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...

February 15, 2025 1275 Views 0 comment Print

KSCAA Seeks Clarity on Eligibility of Appeals with Delay Condonation under VSVS

Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...

February 15, 2025 174 Views 0 comment Print


Latest Judiciary


No GP Addition Without Discrepancy in Purchases & Sales: ITAT Mumbai

Income Tax : ITAT Mumbai rules on Nickunj Eximp case: Disputes over bogus purchases, demonetization cash deposits, and assessment procedures....

March 5, 2025 42 Views 0 comment Print

Delay in issuing Section 143(2) Notice Renders Reassessment Invalid: Delhi HC

Income Tax : The Delhi High Court quashed a tax reassessment notice issued to Indus Towers Ltd. for AY 2009-10, citing procedural lapses and mi...

March 5, 2025 60 Views 0 comment Print

Procedural Lapses Should Not Override Substantial Justice: ITAT condones Appeal filing delay

Income Tax : ITAT Mumbai condones a 314-day delay in Atlantic Bio Medical Pvt. Ltd.'s appeal, citing a bona fide mistake in tax filing and a ri...

March 5, 2025 42 Views 0 comment Print

JAO can issue Section 148 notice after Section 132 search: Gujarat HC

Income Tax : Gujarat High Court rules that a jurisdictional assessing officer cannot override the faceless assessment scheme under Section 151A...

March 4, 2025 15 Views 0 comment Print

Section 270A Penalty Doesn’t Require Mens Rea Presence: ITAT Bangalore

Income Tax : ITAT Bangalore held that that mens rea is not an essential condition for imposing penalties under civil acts. Penalty u/s. 270A of...

March 4, 2025 63 Views 0 comment Print


Latest Notifications


Select Committee of Lok Sabha to examine Income-Tax Bill, 2025

Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...

February 27, 2025 384 Views 0 comment Print

CBDT Amends Rules 12CA, 12CC & Forms 10IH, 64A, 64B, 64C, 64D, 64E & 64F

Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...

February 25, 2025 2169 Views 0 comment Print

All about Income Tax / TDS Deduction from Salaries for FY 2024-25

Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...

February 21, 2025 11133 Views 0 comment Print

CBDT extends Due Date for Filing Form 56F for AY 2024-25

Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...

February 19, 2025 8142 Views 0 comment Print

Punjab RERA Notified for Income Tax Exemption under Section 10(46A)(b)

Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...

February 13, 2025 942 Views 0 comment Print


NC Notification No. 93/2012-Income Tax Dated 9/10/2012

October 9, 2012 298 Views 0 comment Print

NC Notification No. 93/2012-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1404(E) dated the 4th September, 2006, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 11, “Centre for Rehabilitation and Development, Chitrakoot, UP (for relief

NC Notification No. 92/2012-Income Tax Dated 9/10/2012

October 9, 2012 277 Views 0 comment Print

NC Notification No. 92/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2907(E) dated 17th November, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 17, “Kawant livelihood project: the sustainable Development

NC Notification No. 91/2012-Income Tax Dated 9/10/2012

October 9, 2012 352 Views 0 comment Print

NC Notification No. 91/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2349 (E) dated 29th October, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 4, “Expansion of the Chavara Cancer Hospital, Chavara Cancer

NC Notification No. 90/2012-Income Tax Dated 9/10/2012

October 9, 2012 385 Views 0 comment Print

NC Notification No. 90/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2907(E) dated 17th November, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 19, “Mahatma Gandhi Hospital-Cardiac Hospital

NC Notification No. 89/2012-Income Tax Dated 9/10/2012

October 9, 2012 388 Views 0 comment Print

NC Notification No. 89/2012-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.839(E) dated 22nd November, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 12, “Running of Arpan Eye Bank at Ghatkopar(E), Bombay”, by Arpan Trust, 2, Poonam, 160, R.B. Mehta Marg, Ghatkopar (E), Bombay-400077 as an eligible project or scheme for a period

NC Notification No. 88/2012-Income Tax Dated 9/10/2012

October 9, 2012 424 Views 0 comment Print

NC Notification No. 88/2012-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.604(E) dated 20th May, 2004 issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 10, “Establishment and running of the school and hospital” by H.B.S. Trust

NC Notification No. 87/2012-Income Tax Dated 9/10/2012

October 9, 2012 352 Views 0 comment Print

NC Notification No. 87/2012-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.388(E) dated 19th May, 1997, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 25, “Construction, aids/application/equipments, vans, furnishing and running of Home

NC Notification No. 86/2012-Income Tax Dated 9/10/2012

October 9, 2012 280 Views 0 comment Print

NC Notification No. 86/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.234(E) dated 15th February, 2007, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 5, “Vishranti critical cancer palliative care centre” by Care India

NC Notification No. 85/2012-Income Tax Dated 9/10/2012

October 9, 2012 307 Views 0 comment Print

NC Notification No. 85/2012-Income Tax Whereas by notification of the Government of India in the Ministry of finance (Department of Revenue), number S.O.832(E) dated 18th September, 1998, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, “Purchase of equipments, construction of building

NC Notification No. 84/2012-Income Tax Dated 9/10/2012

October 9, 2012 280 Views 0 comment Print

NC Notification No. 84/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2907(E) dated 17th November, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 14, “Mid Day Meal Project in the State of Rajasthan”

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