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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


New Income Tax Bill, 2025: Important Key Points

Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...

February 12, 2025 681 Views 0 comment Print

Overview of The Income Tax Bill 2025

Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...

February 12, 2025 510 Views 0 comment Print

What is Perquisites and profits in lieu of salary?

Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...

February 12, 2025 327 Views 0 comment Print

Union Budget 2025-26: Economic Growth & Direct Tax Reforms

Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...

February 12, 2025 312 Views 0 comment Print

New Income Tax Bill 2025: Streamlining India’s Tax System for Modern Times

Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...

February 12, 2025 5526 Views 0 comment Print


Latest News


Income Tax Return Filings in India: Trends and Government Measures

Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...

February 12, 2025 36 Views 0 comment Print

Impact of Supreme Court Judgement On HUF Tax Benefits

Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...

February 12, 2025 24 Views 0 comment Print

Corporate Tax Collections & Incentives for Global Firms

Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...

February 12, 2025 30 Views 0 comment Print

Reminder for Filing TDS Statement 26Q for Q2 FY 2024-25

Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...

February 8, 2025 10593 Views 2 comments Print

Union Cabinet Approves New Income Tax Bill 2025 to Replace 1961 Act

Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...

February 8, 2025 13869 Views 1 comment Print


Latest Judiciary


Section 148 Notice Procedure Must Be Completed Within Section 149 Timeframe: Delhi HC

Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...

February 12, 2025 99 Views 0 comment Print

No Addition Based on mere Loose Papers, WhatsApp Chats: ITAT Pune

Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...

February 12, 2025 3369 Views 0 comment Print

ITAT Chennai Sets Aside addition for Unaccounted Jewellery per CBDT Instruction

Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...

February 12, 2025 36 Views 0 comment Print

Recovery of Income Tax Arrears from Auctioned Property Untenable: Kerala HC

Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...

February 12, 2025 96 Views 0 comment Print

License Fees for Goodwill acquisition Allowed as Expense U/S 37: Delhi HC

Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...

February 12, 2025 72 Views 0 comment Print


Latest Notifications


Govt released Income-Tax Bill, 2025 (Download)

Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...

February 12, 2025 70197 Views 3 comments Print

Income Tax Act: Bhaikaka University Approved for Research

Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...

February 11, 2025 177 Views 0 comment Print

Income Tax Act: Section 285 Notification for Liaison Office Statement Filing

Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...

February 10, 2025 306 Views 0 comment Print

Income-Tax Rule 2F Amended for Infrastructure Debt Funds

Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...

February 7, 2025 312 Views 0 comment Print

CBDT Shares Taxpayer Data for PMGKAY Eligibility

Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...

February 4, 2025 2589 Views 0 comment Print


Notification: S.O.2585 Date of Issue: 3/4/1978

April 3, 1978 199 Views 0 comment Print

Notification: S.O.2585 It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to Industrial & Scientific Research Association, Madras, by notification No. 2875 (F. No. 10/105/65–ITA. II) dated 6th September, 1965, is withdrawn with effect from 11th February, 1978

Notification: S.O.1975 Date of Issue: 31/3/1978

March 31, 1978 334 Views 0 comment Print

Notification: S.O.1975 Central Government hereby notifies The Bombay Society for the Prevention of Cruelty to Animals including the Bai Sakarbai Dinshaw Petit Hospital for Animals for the purpose of the said section for and from the assessment year(s) 1977-78.

Notification: S.O.1870 Date of Issue: 31/3/1978

March 31, 1978 286 Views 0 comment Print

Notification: S.O.1870 In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby

Notification: S.O.1402 Date of Issue: 31/3/1978

March 31, 1978 277 Views 0 comment Print

In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Vasishteshwarar Temple, Thittai, Thanjavur District, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.

Notification: S.O.1401 Date of Issue: 31/3/1978

March 31, 1978 394 Views 0 comment Print

Notification: S.O.1401 Central Government hereby notifies Sri Santhanaramaswami Temple, Sri Kasi Viswanatha Swami Temple and Sri Veera Anjaneyaswami Temple for the purpose of the said section for and from the assessment year(s) 1973-74.

Notification: S.O.1400 Date of Issue: 31/3/1978

March 31, 1978 325 Views 0 comment Print

Notification: S.O.1400 Central Government hereby notifies Arulmighu Nellaiappar and Kanthimathi Ambal Temple for the purpose of the said section for and from the assessment year(s) 1974-75.

Notification: S.O.2395 Date of Issue: 31/3/1978

March 31, 1978 385 Views 0 comment Print

Notification: S.O.2395 (i) That the institution will maintain a separate account of the sums received by it for scientific research in the field of medical research. (ii) That the institution will furnish annual returns of its scientific research activities to the Council for each financial year by 15th May each year at the latest in such form as may be laid down and intimated to them for this purposes.

Notification: S.O.2224 Date of Issue: 31/3/1978

March 31, 1978 277 Views 0 comment Print

Notification: S.O.2224 In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Kasi Kamakoteeswarar Mandir for the purpose of the said section for and from the assessment year(s) 1977-78.

Notification: S.O.222(E) Date of Issue: 31/3/1978

March 31, 1978 445 Views 0 comment Print

Notification: S.O.222(E) In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :— This notification contains Amendment to Income-tax (Third Amendment) Rules, 1978 carried out on 31-3-1978 not reproduced here as it is already contained in the body of the rules itself

Notification: S.O.2218 Date of Issue: 31/3/1978

March 31, 1978 301 Views 0 comment Print

In continuation of this department notification No. 1050 (F. No. 203/53/75-ITA. II), dated the 22nd August, 1975, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Agricultural Research, Krishi Bhawan, New Delhi, t

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