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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


Need to Curb Misconceptions About Rule 55 of Income Tax Rules

Income Tax : Rule 55 misinterpretations hinder aspiring Income Tax Practitioners, discouraging qualified youth and impacting self-employment op...

December 8, 2024 468 Views 0 comment Print

Draft Submissions on Section 148A(b) Notice Issued Based on wrong Information

Income Tax : Written submission against wrong cash deposit notice under Section 148A(b), highlighting errors and lack of independent inquiry....

December 7, 2024 861 Views 0 comment Print

Exempted Perquisites for Salaried Taxpayers Under Income Tax Act

Income Tax : Exempted perquisites for salaried taxpayers, including medical, food, phone facilities, gifts, and more under the Income Tax Act, ...

December 7, 2024 1071 Views 0 comment Print

Crypto Conundrums: Legal Complexities from lens of International Taxation

Income Tax : Explore global tax complexities of cryptocurrency, focusing on jurisdiction, pseudonymity, and the need for an international frame...

December 5, 2024 399 Views 0 comment Print

Are senior citizens exempt from filing ITR: Analysis

Income Tax : Understand ITR exemption under Section 194P for senior citizens 75+ years. Learn eligibility, conditions, and other tax benefits a...

December 5, 2024 3966 Views 0 comment Print


Latest News


Govt. Clarifies Tax Exemption for STs, No New Proposals

Income Tax : Govt. confirms no changes to the process of tax exemptions for STs in Meghalaya, clarifying no certificates are needed to claim ex...

December 6, 2024 210 Views 0 comment Print

CBI Arrests Two Income Tax Employees in Bribery Case

Income Tax : CBI arrests two Income Tax employees in Silchar for accepting Rs. 4,000 bribe as part of a Rs. 10,000 demand for PAN card closure....

December 6, 2024 330 Views 0 comment Print

Women Income Tax Filers in India: State-wise Data

Income Tax : State-wise details of women income tax filers from 2019 to 2024 show a steady increase in participation across India....

November 28, 2024 1386 Views 0 comment Print

KSCAA Representation on CPC Processing Errors

Income Tax : KSCAA raises concerns over errors in CPC processing of returns and defective notices, requesting corrective actions for smoother t...

November 27, 2024 3870 Views 0 comment Print

Updated List of 29 Banks For Income Tax Payments on e-Filing Portal

Income Tax : Comprehensive list of 29 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...

November 27, 2024 39099 Views 4 comments Print


Latest Judiciary


Gross receipts calculation for section 44AD includes duty drawback: ITAT Kolkata

Income Tax : ITAT Kolkata held that duty drawback is part of gross receipts for the purpose of calculation of ‘gross receipts’ under the pr...

December 9, 2024 15 Views 0 comment Print

Addition u/s. 68 set aside as no allegation of assessee’s involvement in price rigging/ increase

Income Tax : ITAT Delhi held that merely because particular scrip is identified as penny stock it doesn’t mean all the transactions carried o...

December 9, 2024 15 Views 0 comment Print

Assessee acted as kaccha arahtia is eligible for entire TDS credit: ITAT Visakhapatnam

Income Tax : Tribunal in the case of Yegneswari General Traders vs. ITO held that kaccha arahtias are concerned, the turnover does not include ...

December 9, 2024 27 Views 0 comment Print

Addition u/s. 68 not sustained as cash deposited out of the business receipts: ITAT Mumbai

Income Tax : ITAT Mumbai held that cash deposits were evidently business receipts, in absence of any other evidence of any other undisclosed so...

December 9, 2024 27 Views 0 comment Print

CBDT relaxed time period for application for regular approval of fund u/s. 80G(5): ITAT Surat

Income Tax : ITAT Surat held that rejection of application for regular approval of fund under section 80G(5) of the Income Tax Act as time barr...

December 9, 2024 39 Views 0 comment Print


Latest Notifications


IIIT Hyderabad Approved for Section section 35(1)(ii) Scientific Research Tax Benefits

Income Tax : The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25...

December 4, 2024 162 Views 0 comment Print

Functionality to pass Assessment orders in Assessment Module of ITBA

Income Tax : Overview of steps in the ITBA Assessment Module for passing assessment orders, including income computation, feedback, and order g...

December 4, 2024 3150 Views 0 comment Print

Section 92E Income Tax Return Due Date Extended to 15th December 2024

Income Tax : CBDT extends the due date for filing income tax returns under section 92E for AY 2024-25 from 30th November 2024 to 15th December ...

November 30, 2024 7227 Views 0 comment Print

Income Tax Rules Amendment: Safe Harbour for Diamond Sector

Income Tax : Notification No. 124/2024 revises Income Tax Rules, introducing safe harbour provisions for foreign companies selling raw diamonds...

November 29, 2024 408 Views 0 comment Print

Section 194N TDS Exemption for Foreign Diplomatic Entities in India

Income Tax : Foreign representations like UN agencies, consulates, and diplomatic missions are exempt from Section 194N of Income Tax Act under...

November 28, 2024 810 Views 0 comment Print


Notification No. S.O.1757-Income Tax, Dated: 06.02.1987

February 6, 1987 277 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 The Loreto House Educational Society of Calcutta , for the purpose of the said clause for the assessment years 1985-86 to 1987-88.

Notification No.S.O.519 – Income Tax Dated 5/2/1987

February 5, 1987 228 Views 0 comment Print

Notification No.S.O.519 – Income Tax In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bonds issued by the Industrial Development Bank of India, Bombay, as specified in the Table hereto annexed, for the purposes of the said clause

Notification No. S.O.1756-Income Tax, Dated: 28.01.1987

January 28, 1987 286 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 Khelghar Shishu Nivas O Shiksha Kendra , for the purpose of the said clause for the assessment years 1985-86 to 1987-88.

Notification No. S.O.664-Income Tax, Dated: 28.01.1987

January 28, 1987 283 Views 0 comment Print

In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Kerala Jesuit Society, Calicut for the purpose of the said clause for the assessment years 1984-85 to 1986-87.

Notification: S.O.1601-Income Tax, Dated: 27.01.1987

January 27, 1987 283 Views 0 comment Print

That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.

Notification: S.O.1602-Income Tax, Dated: 27.01.1987

January 27, 1987 262 Views 0 comment Print

That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.

Notification No. S.O.1600-Income Tax, Dated: 27.01.1987

January 27, 1987 256 Views 0 comment Print

The Organisation shall submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents sent to the concerned Commissioner of Income-tax.

Notification No.S.O.25(E) – Income Tax Dated 21/1/1987

January 21, 1987 243 Views 0 comment Print

Notification No.S.O.25(E) – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 269UB of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance, Department of Revenue, No. S. O. 684(E), dated 24th September, 1986, namely

Notification No. S.O.740-Income Tax, Dated: 20.01.1987

January 20, 1987 244 Views 0 comment Print

In exercise of the powers conferred by clause (b) sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Mujungavu Sree Parthasarati Krishna Deva Temple, Kasaragod, District (Kerala) to be of historic and archaeological importance for the purpose of the said clause.

Notification No. S.O.1598-Income Tax, Dated: 16.01.1987

January 16, 1987 229 Views 0 comment Print

That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax.

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