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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


Taxation of Capital Gain in India – FAQs

Income Tax : Learn what constitutes capital gains, how they are taxed, the types of capital assets, and distinctions between short-term and lon...

August 27, 2024 479008 Views 165 comments Print

Taxability of Gift received by an individual or HUF with FAQs

Income Tax : Monetary gifts to individuals or HUFs exceeding ₹50,000 in a year are taxable unless received under specific exemptions like fro...

August 27, 2024 364596 Views 60 comments Print

Recalling the Clubbing Provisions in Income Tax

Income Tax : Learn about the clubbing provisions under the Income Tax Act, covering income transfers, revocable transfers, and taxation of inco...

August 26, 2024 258 Views 0 comment Print

Summary of Section 269SS, 269ST and 269T & reporting in Tax Audit Form 3CD

Income Tax : Understand the provisions of Sections 269SS, 269ST, and 269T under Indian tax law, their implications, and reporting requirements ...

August 26, 2024 309 Views 0 comment Print

Taxability of Sovereign Gold Bonds w.e.f. FY 2024-25

Income Tax : Learn about Sovereign Gold Bonds (SGBs), including eligibility, investment limits, interest rates, redemption, and tax implication...

August 26, 2024 2358 Views 0 comment Print


Latest News


Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 23, 2024 1077 Views 0 comment Print

Live Course: Handling Faceless Income Tax Assessment with AI Tools like ChatGPT

Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...

August 23, 2024 1644 Views 0 comment Print

CBDT Central Action Plan 2024-2025

Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...

August 22, 2024 1269 Views 0 comment Print

Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights – Starting Today

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 19, 2024 3321 Views 0 comment Print

Direct Tax Collections FY 2024-25 Reach Rs. 6.93 Lakh Crores as on 11.08.2024

Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...

August 13, 2024 303 Views 0 comment Print


Latest Judiciary


ITAT Mumbai Deletes Section 11(1A) Disallowance on Sale Consideration Investment

Income Tax : ITAT Mumbai deletes disallowance of capital gains by DCIT after confirming investment in property with Charity Commissioner approv...

August 26, 2024 75 Views 0 comment Print

Addition u/s. 69A and 68 without finding any fault with evidence is unlawful: ITAT Mumbai

Income Tax : ITAT Mumbai held that confirmation of addition u/s. 69A and 68 of the Income Tax Act without finding any fault with the evidence s...

August 26, 2024 69 Views 0 comment Print

Compensation paid to ESOP holders qualifies as perquisite hence taxable as salary income: Madras HC

Income Tax : Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary�...

August 26, 2024 66 Views 0 comment Print

Section 263 Invocation Unjustified if No Evidence of Erroneous Order

Income Tax : ITAT Ahmedabad held that invocation of section 263 by PCIT unjustified due lack of sufficient evidence to support claim that the o...

August 26, 2024 69 Views 0 comment Print

Deduction u/s. 54 admissible even when return is filed belatedly: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when ret...

August 26, 2024 195 Views 0 comment Print


Latest Notifications


Income Tax: New Guidelines for Filing application under section 10(46A)

Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...

August 20, 2024 3636 Views 0 comment Print

President Assents Finance (No 2) Bill, 2024 i.e. Finance (No. 2) Act, 2024

Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...

August 18, 2024 2217 Views 0 comment Print

Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 3993 Views 0 comment Print

Guidelines for Handling High-Risk PAN Cases in Insight Portal

Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...

August 12, 2024 13332 Views 0 comment Print

Income Tax Exemption for UIDAI’s Specified Income 2024-2029

Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...

August 12, 2024 339 Views 0 comment Print


Notification No.102/2005 – Income Tax Dated 23/3/2005

March 23, 2005 273 Views 0 comment Print

Notification No.102/2005 – Income Tax SO. (E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.422(E) dated the 19th May, 1998, issued under sub-section (1) read with clause (b) of the Explanation to section 35 AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 6, for Running of Health Care and

Notification No.100/2005 – Income Tax Dated 23/3/2005

March 23, 2005 234 Views 0 comment Print

Notification No.100/2005 – Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.901(E) dated the 20th September, 2001, 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 3, for Construction of building, purchase of library

Notification No.101/2005 – Income Tax Dated 23/3/2005

March 23, 2005 240 Views 0 comment Print

Notification No.101/2005 – Income Tax S.O. (E).- Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.308(E) dated the 11th May, 1999, 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 5, for Blood component-purchase of

Notification No. 95/2005-Income Tax, Dated: 23.03.2005

March 23, 2005 361 Views 0 comment Print

(E).- In Exercise of the powers conferred by sub-section (i ) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendation of the National Committee, here by amends the Notification of Government of India, Ministry of Finance (Department of Revenue) S.O.97(E) dated the 11th February, 1999, to the following effect,

Notification No. 82/2005-Income Tax, Dated: 23.03.2005

March 23, 2005 349 Views 0 comment Print

In exercise of the powers conferred by 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 on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby approves the institutions mentioned in column (2) of the Table below and specifies the eligible projects

Notification No.81/2005 – Income Tax Dated 17/3/2005

March 17, 2005 315 Views 0 comment Print

Notification No.81/2005 – Income Tax It is notified for general information that the enterprise/undertaking, Hazira Port Pvt Ltd, 101-103, Abhijeet II, Mithakali Circle, Ahmedabad-380006, has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962 for their project of development, maintenance and operation of

Notification No.80/2005 – Income Tax Dated 17/3/2005

March 17, 2005 231 Views 0 comment Print

Notification No.80/2005 – Income Tax It is hereby notified for general information that the organization Rajiv Gandhi Foundation, Jawahar Bhawan, Dr. Rajendra Prasad Road, New Delhi has been approved by the Central Government for the period from 1.4.2003 to 31.3.2006, for the purpose of clause (iii) of sub-section (1) of section 35 of the Income tax Act, 1961, read with Rule 6 of the Income tax Rules, 1962

Notification No.79/2005 – Income Tax Dated 17/3/2005

March 17, 2005 318 Views 0 comment Print

Notification No.79/2005 – Income Tax It is notified for general information that the approval to the enterprise, listed at para (3) below has been renewed by the Central Government for the purpose of section 10(23G) of the Income tax Act, 1961, read with rule 2E of the Income tax Rules, 1962 with effect from the Asstt. Year 2002-2003 to the Asstt. Year 2015-16 (upto 29.11.2014) i.e. upto the end of period of 20 years as

Notification No. 78/2005-Income Tax, Dated: 16.03.2005

March 16, 2005 328 Views 0 comment Print

In exercise of powers conferred by the sub-clause (iv ) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Shri Ram Chander Mission, New Delhi for the purpose of the said sub-clause for the assessment year 2005-2006 to 2007-2008 subject to the following conditions

Notification No.75/2005 – Income Tax Dated 14/3/2005

March 14, 2005 249 Views 0 comment Print

Notification No.75/2005 – Income Tax It is hereby notified for general information that the organisation mentioned below has been approved by the Central Government for the period mentioned below, for the purpose of clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961, read with Rule 6 of the Income tax Rules, 1962 under the category “Institution” subject to the following conditions

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