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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


Revamp of Income Tax Act 1961: Key Updates for Taxpayers

Income Tax : Learn about the planned overhaul of India’s Income Tax Act 1961, set to simplify and modernize tax laws by 2025, aiming for clar...

November 11, 2024 1902 Views 0 comment Print

Online Revision of TDS Return: Process and advantages

Income Tax : Learn how to revise TDS returns online via TRACES, correct errors, and ensure compliance. Get step-by-step guidance and understand...

November 11, 2024 3555 Views 2 comments Print

Cultivation & sale of white button mushroom is agricultural activity: ITAT Mumbai

Income Tax : In the alternate, assessee has also raised a ground that Assessing Officer ought to have allowed the expenditure incurred in culti...

November 11, 2024 207 Views 0 comment Print

Income tax slabs for Individuals – FY 2024-25 (New and old tax regime)

Income Tax : Explore the updated income tax slabs for FY 2024-25, comparing the new and old regimes, including deductions, rebates, and surchar...

November 11, 2024 14037 Views 0 comment Print

How the Loss from Speculation Business or Specified Business is to be Set-off?

Income Tax : Learn how losses from speculation business can be set off only against speculation income, with provisions for carry-forward....

November 8, 2024 579 Views 0 comment Print


Latest News


Direct Tax Collections Update FY 2024-25 as of Nov 10

Income Tax : Direct tax collections for FY 2024-25 have risen 21.2% gross, with a 15.41% net growth compared to the previous year, reflecting c...

November 12, 2024 153 Views 0 comment Print

CBI Chargesheet Filed Against Principal Income Tax Commissioner in Bribery

Income Tax : CBI files chargesheet against Principal Commissioner of Income Tax and four others in a Rs 10 lakh bribery case. Investigation det...

October 30, 2024 1635 Views 0 comment Print

Tolerance Range for Transfer Pricing Notified for AY 2024-25

Income Tax : CBDT sets transfer pricing tolerance range at 1% for wholesale trading and 3% for other transactions for AY 2024-25, providing cla...

October 30, 2024 453 Views 0 comment Print

Representation Regarding Income Tax Portal Glitches

Income Tax : KSCAA highlights critical issues on India’s Income Tax Portal, impacting timely filings for returns and TDS with glitches, timeo...

October 26, 2024 678 Views 0 comment Print

CBDT Issues Revised Guidelines for Compounding Income Tax Act Offences

Income Tax : CBDT simplifies compounding procedures under the Income-tax Act, 1961 by reducing charges, removing limits, and easing filing requ...

October 24, 2024 3318 Views 0 comment Print


Latest Judiciary


CIT(A) directed to condone delay as it is alleged that addition is based on incorrect reporting by auditor

Income Tax : ITAT Bangalore directed CIT(A) to condone delay of 484 days in filing of an appeal and consider the issue on merits as it is alleg...

November 12, 2024 57 Views 0 comment Print

Reversal of provision of inventory written off due to obsolescence allowed: ITAT Bangalore

Income Tax : ITAT Bangalore held that deduction towards reversal of provision for inventory written off due to obsolescence allowable since the...

November 12, 2024 162 Views 0 comment Print

Deemed rent u/s. 23(1)(a) not invocable as property leased out for continuous long period

Income Tax : The assessee is engaged in the business of letting out buildings both residential and non-residential. The case of the assessee wa...

November 12, 2024 105 Views 0 comment Print

Weighted deduction u/s. 35(2AB) allowed as amount from DSIR qualifies as soft loan: ITAT Vishakhapatnam

Income Tax : ITAT Vishakhapatnam allowed weighted deduction under section 35(2AB) of the Income Tax Act since amount received from Department o...

November 12, 2024 66 Views 0 comment Print

Source of capital investment explained hence addition u/s. 68 not sustained: ITAT Visakhapatnam

Income Tax : ITAT Visakhapatnam held that addition under section 68 r.w.s. 115BBE of the Income Tax Act deleted as the source for capital inves...

November 12, 2024 84 Views 0 comment Print


Latest Notifications


CBDT notifies Monetary Limits for Interest Waiver under Section 220(2)

Income Tax : CBDT sets new monetary limits for waiver of interest on delayed tax payments under Section 220(2) of the Income Tax Act, 1961, eff...

November 5, 2024 16893 Views 1 comment Print

Electronic Filing of Forms 3CEDA and 3C-O from Oct 31, 2024

Income Tax : CBDT issues Notification No. 5/2024 for mandatory electronic filing of Forms 3CEDA and 3C-O under Income Tax Rules, effective from...

November 4, 2024 255 Views 0 comment Print

Condonation of Delay for AY 2023-24 – Section 80P Deduction Claims

Income Tax : CBDT issues Circular No. 14/2024 allowing condonation of delay in filing tax returns for AY 2023-24 under Section 80P, benefiting ...

November 4, 2024 426 Views 1 comment Print

CBDT Extends Income Tax Return Deadline to Nov 15, 2024

Income Tax : The CBDT extends the Income Tax Return due date for AY 2024-25 to November 15, 2024, as per Circular No. 13/2024 issued on October...

October 26, 2024 10800 Views 0 comment Print

Income Tax Exemption notified for West Bengal Pollution Control Board

Income Tax : CBDT exempts income of West Bengal Pollution Control Board under Section 10(46) of the Income-tax Act, 1961, subject to non-commer...

October 18, 2024 162 Views 0 comment Print


Notification No. 292/2002-Income Tax Dated 30/9/2002

September 30, 2002 319 Views 0 comment Print

Notification No. 292-Income Tax In exercise of the powers conferred by sub-clause (iv) clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Punjab Calamity Relief Fund, Punjab, Chandigarh” for the purpose of the said sub-clause for the assessment years 1991-92 to 1993-94 subject to the following conditions

Notification No. 290/2002-Income Tax Dated 27/9/2002

September 27, 2002 262 Views 0 comment Print

Notification No. 290-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Sports Authority of Andhra Pradesh, Hyderabad” for the purpose of the said clause for the assessment years 2000-01 to 2002-03 subject to the following conditions

Notification No. 289/2002-Income Tax Dated 26/9/2002

September 26, 2002 322 Views 0 comment Print

Notification No. 289-Income Tax In exercise of the 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 “Indian International Textile Machinery Exhibition Society, Mumbai” for the purpose of the said sub-clause for the assessment years 2002-03 to 2004-05 subject

Notification No. 284/2002-Income Tax Dated 25/9/2002

September 25, 2002 337 Views 0 comment Print

Notification No. 284-Income Tax In exercise of the 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 “Action for Food Production (AFPRO), Janakpuri, New Delhi” for the purpose of the said sub-clause for the assessment years 1994-95 to 1996-97 subject

Notification No. 288/2002-Income Tax Dated 25/9/2002

September 25, 2002 322 Views 0 comment Print

Notification No. 288-Income Tax In exercise of the 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 “Indian Institute of Public Administration, New Delhi” for the purpose of the said sub-clause for the assessment years 2001-02 to 2003-04 subject to the following conditions

Notification No. 283/2002-Income Tax Dated 25/9/2002

September 25, 2002 319 Views 0 comment Print

Notification No. 283-Income Tax In exercise of the 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 “Centre for High Technology, New Delhi” for the purpose of the said sub-clause for the assessment years 1992-93 to 1994-95 subject to the following conditions

Notification No. 280/2002-Income Tax Dated 25/9/2002

September 25, 2002 277 Views 0 comment Print

Notification No. 280-Income Tax In exercise of the powers conferred by the sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Shri Laxmji Mandir Trust, Bet” for the purpose of the said sub-clause for the assessment years 1993-94 to 1995-96 subject to the following conditions

Notification No. 286/2002-Income Tax Dated 25/9/2002

September 25, 2002 310 Views 0 comment Print

Notification No. 286-Income Tax In exercise of the 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 “Delhi Society for Mentally Retarded Children, Okhla Centre, New Delhi” for the purpose of the said sub-clause for the assessment years 1997198 to 1999-2000 subject

Notification No. 281/2002-Income Tax Dated 25/9/2002

September 25, 2002 325 Views 0 comment Print

Notification No. 281-Income Tax In exercise of the powers conferred by the sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Shri Radhikaji Mandir Trust, Bet” for the purpose of the said sub-clause for the assessment years 1993-94 to 1995-96 subject to the following conditions

Notification No. 285/2002-Income Tax Dated 25/9/2002

September 25, 2002 241 Views 0 comment Print

Notification No. 285-Income Tax In exercise of the 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 “The Society of the Franciscan Servants of Mary, Algapuram, Salem” for the purpose of the said sub-clause for the assessment years 1992-93 to 1994-95 subject

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