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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


Unexplained Cash Credits & Section 68: Tax & Legal Aspects

Income Tax : Learn about unexplained cash credits under Section 68, tax implications, key legal cases, and compliance requirements to avoid pen...

February 13, 2025 18 Views 0 comment Print

Income Tax 1961 vs Income Tax Bill, 2025: Key Changes in Tax Provisions

Income Tax : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...

February 13, 2025 5820 Views 0 comment Print

Comparative Analysis: Income Tax Act 1961 vs. Income Tax Bill 2025

Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...

February 13, 2025 9366 Views 0 comment Print

USA Taxation 2024: Updated Guidelines for Individuals

Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...

February 13, 2025 234 Views 0 comment Print

वरिष्ठों को भी सभी स्तोत्रों से प्राप्त बारह लाख तक आय पर टैक्स छूट नहीं देना कहाँ तक उचित

Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...

February 13, 2025 657 Views 0 comment Print


Latest News


Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961

Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...

February 13, 2025 2199 Views 0 comment Print

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 156 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 483 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 48 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 10677 Views 2 comments Print


Latest Judiciary


Bombay HC Quashes Reassessment Notice for Section 151 Approval without mind application

Income Tax : Bombay High Court quashes reassessment notice in Teleperformance case due to lack of application of mind in granting approval unde...

February 13, 2025 27 Views 0 comment Print

Transfer of case u/s. 127 without granting personal hearing in bad-in-law: ITAT Raipur

Income Tax : ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being hear...

February 13, 2025 42 Views 0 comment Print

Order of Settlement Commission choosing one of two possible views cannot be interfered

Income Tax : Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Comm...

February 13, 2025 48 Views 0 comment Print

Penalty u/s. 271B deleted as reasonable cause shown: ITAT Bangalore

Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...

February 13, 2025 51 Views 0 comment Print

Source of gift satisfactorily explained: ITAT deleted addition

Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...

February 13, 2025 96 Views 0 comment Print


Latest Notifications


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 66 Views 0 comment Print

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 117438 Views 5 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 189 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 327 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 339 Views 0 comment Print


Circular No. 224-Income Tax dated 22-6-1977

June 22, 1977 340 Views 0 comment Print

Circular No. 224 -Income Tax Reference is invited to the Board’s Circular No. 207 [F. No. 220/20/76-IT (A-II)], dated 24-9-1976 [Clarification 2] wherein it was explained that the karta of the Hindu undivided family cannot be regarded as a benamidar of the Hindu undivided family within the meaning of the Explanation to section 185(1) and as such there is no obligation to file Form No. 12A in such cases

Notification No. S.O.3476 Date of Issue: 18/6/1977

June 18, 1977 340 Views 0 comment Print

In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Kerala Toddy Workers’ Welfare Fund Board, Trivandrum, for the purpose of the said section for and from the assessment year 1970-71.

Circular No. 223-Income Tax dated 15-6-1977

June 15, 1977 444 Views 0 comment Print

Circular: No. 223 -Income Tax Under section 133(4), the Income-tax Officer, the Appellate Assistant Commissioner, or the Inspecting Assistant Commissioner may, for the purposes of this Act, require any assessee to fur­nish a statement of the names and addresses of all persons to whom he has paid in any previous year rent, interest, commission, royalty or brokerage, or any annuity, not being annuity taxable under the

Notification No. S.O.3994 Date of Issue: 13/6/1977

June 13, 1977 250 Views 0 comment Print

Central Government hereby notifies Church of North, India, New Delhi for the purpose of the said section for the assessment years 1974-75 and 1975-76. Section(s) Referred: 10 ,10(23C) ,10(23C)(v)

Notification No. S.O.3451 Date of Issue: 13/6/1977

June 13, 1977 385 Views 0 comment Print

In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Consumer Guidance Society of India, Bombay, for the purpose of the said section for and from the assessment year 1970-71.

Circular No. 222-Income Tax dated 10-6-1977

June 10, 1977 394 Views 0 comment Print

Circular No. 222-Income Tax The Board have examined the question whether the deposit made under “own your telephone” (OYT) scheme is an asset within the meaning of section 2(e) and, as such, includible in the net wealth of an assessee

Notification No. S.O.3450 Date of Issue: 9/6/1977

June 9, 1977 196 Views 0 comment Print

In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Samsthanam Choultry, Pithapuram, for the purpose of the said section for and from the assessment year 1975-76.

Notification No. S.O.2438 Date of Issue: 7/6/1977

June 7, 1977 241 Views 0 comment Print

That the said Institute will furnish the annual return of its scientific research activities to the prescribed authority by 30th April each year for every financial year in such forms as may be laid down and intimated to them for this purposes.

Notification No. S.O.3449 Date of Issue: 6/6/1977

June 6, 1977 226 Views 0 comment Print

In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies World Wildlife Fund India, Bombay, for the purpose of the said section for and from the assessment year 1969-70.

Notification No. S.O.3010 Date of Issue: 6/6/1977

June 6, 1977 301 Views 0 comment Print

This notification contains Corrigendum to Income-tax Act, 1961 carried out on June 6, 1977 not reproduced here as it is already contained in the body of the Act itself.

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