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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


Income from Business and Profession under Income Tax Act 1961

Income Tax : In the realm of taxation, income is classified into various categories, with one of the most significant being Income from Busines...

March 13, 2025 627 Views 0 comment Print

Unlocking Mysteries of Gross Total Income and Income Tax Deductions

Income Tax : The Indian taxation framework, as delineated by the Income Tax Act of 1961, may initially seem daunting. Nevertheless, acquiring a...

March 13, 2025 1164 Views 0 comment Print

New Tax Slabs FY 2025-26: Revised Tax Rates & Key Changes

Income Tax : Check the updated tax slabs for FY 2025-26. Know the new tax rates, rebate changes, exemption limits, and comparison with the old ...

March 13, 2025 1485 Views 0 comment Print

New Tax Regime vs. Old Tax Regime: Which One is Better for You?

Income Tax : Compare India's old and new tax regimes. Learn about tax slabs, deductions, and which option suits your income and investment habi...

March 13, 2025 324 Views 0 comment Print

Understanding Concept of Tax Deducted at Source (TDS) in India

Income Tax : Learn about Tax Deducted at Source (TDS) in India, its applicability, key sections, deduction process, penalties, and recent updat...

March 13, 2025 240 Views 0 comment Print


Latest News


Pendency of 5,49,042 Appeals Before CIT(A)/NFAC: Request for Early Disposal

Income Tax : AIFTP urges swift disposal of 5,49,042 income-tax appeals pending with NFAC/CIT(A), some for over 5 years, to alleviate taxpayers'...

March 11, 2025 6537 Views 0 comment Print

Updated List of 30 Banks For Income Tax Payments on e-Filing Portal

Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...

March 7, 2025 40629 Views 4 comments Print

Advance Tax Installments/Payments of taxes

Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...

March 5, 2025 6768 Views 0 comment Print

Include ‘Cost Accountant’ in definition of ‘Accountant’ under Income Tax Bill 2025: ICMAI

Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...

February 21, 2025 10713 Views 0 comment Print

Key Highlights of Finance Bill 2025: Income Tax Changes

Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...

February 19, 2025 12201 Views 0 comment Print


Latest Judiciary


Penny Stock: No Sections 68 & 69 Additions Solely on Suspicion or General Trends

Income Tax : ITAT Delhi overturns tax addition in Puja Gupta Vs ITO, ruling that share transactions were genuine. Revenue's reliance on suspici...

March 14, 2025 63 Views 0 comment Print

ITAT allows Section 10(38) Exemption on LTCG from Sell of Shares of Midland Polymers 

Income Tax : ITAT Mumbai rules in favor of Ramesh Rikhavdas Shah, rejecting AO’s additions on alleged penny stock transactions and commission...

March 14, 2025 27 Views 0 comment Print

ITAT allows Withdrawal of Appeals as taxpayer opted for Vivad Se Vishwas Scheme

Income Tax : ITAT Pune dismisses DCIT’s appeal against Danfoss Power Solutions as the company opts for the Vivad Se Vishwas Scheme to settle ...

March 14, 2025 51 Views 0 comment Print

Capital gains tax payable if demerger fails to fulfill Section 2(19AA) conditions

Income Tax : ITAT Ahmedabad issues ruling on Reckitt Benckiser’s tax appeal regarding demerger compliance under Section 2(19AA) and capital g...

March 14, 2025 33 Views 0 comment Print

Capital R&D Expenditure Allowed U/s 35(1)(iv), Weighted Deduction Denied for Lack of DSIR Approval

Income Tax : ITAT Chennai rules on Ashok Leyland's tax appeal regarding R&D deductions under Section 35(2AB). The tribunal allows partial relie...

March 14, 2025 45 Views 0 comment Print


Latest Notifications


CBDT notifies Power Finance Corp Zero Coupon Bond under section 2(48)

Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...

March 11, 2025 939 Views 0 comment Print

High-Risk and Non PAN Transaction Cases: Insight Portal Guidelines

Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...

March 7, 2025 630 Views 0 comment Print

High-Risk CRIU/VRU Cases and proceedings under Sections 148/148A

Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...

March 7, 2025 603 Views 0 comment Print

Assessment & Investigation of Benami, Foreign Assets & TDS Cases

Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...

March 7, 2025 309 Views 0 comment Print

Income Tax Department identifies High-Risk Non-Filers for AY 2019-22

Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...

March 7, 2025 9636 Views 0 comment Print


Notification No. 55/2002-Income Tax Dated 6/3/2002

March 6, 2002 262 Views 0 comment Print

Notification No. 55-Income Tax It is notified for general information that enterprise, listed at para. (3) below 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 the assessment years 2002-2003, 2003-2004 and 2004-2005.

Notification No. 54/2002-Income Tax Dated 6/3/2002

March 6, 2002 334 Views 0 comment Print

Notification No. 54-Income Tax It is notified for general information that enterprise, listed at para. (3) below 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 the assessment years 2002-2003, 2003-2004 and 2004-2005.

Notification No. S.O.275(E)-Income Tax Dated 4/3/2002

March 4, 2002 282 Views 0 comment Print

Notification No. S.O.275(E)-Income Tax In exercise of the powers conferred by sub-clause (vii) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Tax Free Municipal Bonds for an amount of rupees eighty two crore and fifty lakh only to be issued by Municipal Corporation of Hyderabad

Notification No. 52/2002-Income Tax Dated 28/2/2002

February 28, 2002 289 Views 0 comment Print

Notification No. 52-Income Tax In exercise of the powers confered under sub-clause (i) of clause (b) of sub-section(2) of section 295 of the Income-tax Act, 1961 (43 if 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962

Notification No. 50/2002-Income Tax Dated 26/2/2002

February 26, 2002 340 Views 0 comment Print

Notification No. 50-Income Tax It is notified for general information that enterprise, listed at para. (3) below have 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 the assessment years 2002-2003, 2003-2004 and 2004-2005.

Notification No. GSR 105(E)-Income Tax Dated 20/2/2002

February 20, 2002 636 Views 0 comment Print

Notification No. GSR 105(E)-Income Tax Whereas the annexed Convention between the Government of the Republic of India and the Government of Ireland for the Avoidance of Double Taxation and for the Prevention of Fiscal Evasion with respect to taxes on income and capital gains has entered into force on 26th December, 2001, thirty days after the receipt of the later

Circular No. 2/2002-Income Tax Dated 15-2-2002

February 15, 2002 7867 Views 0 comment Print

Circular No. 2/2002-Income Tax A review of the tax treatment of income arising from Deep Discount Bonds has been under consideration in the Board for some time. The Board had earlier clarified by way of certain letters issued to the Reserve Bank of India and others that the difference between the bid price (subscription price) and the redemption price (face value) of such bonds will be treated as interest income assessable under the Income-tax Act.

Notification No. 44/2002-Income Tax Dated 15/2/2002

February 15, 2002 298 Views 0 comment Print

Notification No. 44-Income Tax It is notified for general information that Gruh Finance Limited, “GRUH”, Netaji Marg, Nr. Mithakhali Six Road, Ellisbridge, Ahmedabad-380 006 has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1997-98.

Circular No. 1/2002-Income Tax Dated 4-2-2002

February 4, 2002 646 Views 0 comment Print

Circular No. 1 of 2002-Income Tax Reference is invited to Circular No. 798, dated 30-10-2000 wherein the rates of deduction of income-tax from the payment of income under the head “Salaries” under section 192 of the Income-tax Act, 1961, during the financial year 2000-2001, were intimated.

Notification No. 21/2002-Income Tax Dated 4/2/2002

February 4, 2002 658 Views 0 comment Print

Notification No. 21-Income Tax In exercise of the powers conferred by section 295, read with sub-section (4) of section 44AA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Incometax Rules, 1962

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