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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


Section 44AD: Presumptive Taxation for Small Businesses

Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...

February 13, 2025 27 Views 0 comment Print

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 993 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 585 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 354 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 333 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 51 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 30 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 10599 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 13908 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 108 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 3492 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 105 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 75 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 73335 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 309 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 318 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 No S.O.3995 Date of Issue: 15/7/1977

July 15, 1977 301 Views 0 comment Print

It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to the Tamil Nadu Eye Relief Association, Madurai, by notification No. 237 (F. No. 203/44/72–ITA. II) dated 11th December, 1972, with effect from 11th December, 1972, is withdrawn with effect from 10th June, 1977, on the recommendation of the prescribed authority, the Indian Council of Medical Research, New Delhi.

Circular No. 228-Income Tax dated 14-7-1977

July 14, 1977 436 Views 0 comment Print

Circular : No. 228 -Income Tax In continuation of this Department’s Circular : No. 215 [F.No. 275/21/77-IT(B)], dated 31-3-1977 [clarification 2], a copy of the draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government securities after June 17, 1977 is forwarded herewith

Circular No. 227-Income Tax dated 14-7-1977

July 14, 1977 414 Views 0 comment Print

Circular: No. 227 -Income Tax I am directed to invite a reference to this Department’s Circular No. 216 [F. No. 275/20/77-IT(B)], dated 31-3-1977 [Clarification 2] on the above subject Section 194D provides for the deduction of tax at source, at such rates as may be specified in this behalf by the Finance Act of the relevant year from payments of income by way of insurance commission, to a resident, whether an individual, a company or any other category of person.

Circular No. 226 -Income Tax dated 14-7-1977

July 14, 1977 306 Views 0 comment Print

Circular : No. 226 -Income Tax I am directed to invite a reference to this Department’s Circular No. 217 [F. No. 275/19/77-IT(B)], dated 31-3-1977 [Clarification I am directed to invite a reference to this Department’s Circular No. 217 [F. No. 275/19/77-IT(B)], dated 31-3-1977 [Clarification 2] on the above subject.

Notification No. S.O.2946 Date of Issue: 8/7/1977

July 8, 1977 256 Views 0 comment Print

Out of the total amount under non-recurring, M/s. K.C.P. Ltd. will donate an amount of Rs. 2.00 lakhs only once during the first year of implementation of the Scheme towards construction of buildings, etc. No further grants are to be given by K.C.P. Ltd.

Notification No. S.O.5 Date of Issue: 8/7/1977

July 8, 1977 253 Views 0 comment Print

It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to B. J. Medical College, Ahmedabad, by notification No. 150 (F. No. 10/58/67-IT) dated the 6th November, 1967, is withdrawn with effect from 1st April, 1977, on the recommendation of the prescribed authority, the Indian Council of Medical Research, New Delhi.

Notification No S.O.2949 Date of Issue: 8/7/1977

July 8, 1977 211 Views 0 comment Print

That the Punjab University, Chandigarh, shall send an annual report to the Indian Council of Social Science Research, New Delhi, showing the funds collected under the exemption and the manner in which the funds were utilised.

Notification No S.O.2948 Date of Issue: 8/7/1977

July 8, 1977 250 Views 0 comment Print

The foundation may, with the approval of the I.C.S.S.R., transfer the funds for these fellowships if it so desired to the universities concerned, for management and operation.

Notification No S.O.2947 Date of Issue: 8/7/1977

July 8, 1977 292 Views 0 comment Print

It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, on the following conditions

Notification No. S.O.3386 Date of Issue: 7/7/1977

July 7, 1977 205 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 Arulmigu Azhagia Nambi Rayar Temple at Thirukkurungudi, Nanguneri Taluk, Tirunelveli District, Tamil Nadu to be a place of public worship of renown throught the State of Tamil Nadu for the purposes of the said section.

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