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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


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 489 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 576 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 351 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 3783 Views 0 comment Print

Direct Tax Code 2025: Challenges in Simplifying India’s Direct Tax Laws

Income Tax : India explores simplifying direct tax laws via a new code or amendments. Challenges include black money, inflation, manpower gaps,...

December 5, 2024 744 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 186 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 315 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 1341 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 3864 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 39081 Views 4 comments Print


Latest Judiciary


Appeal dismissed as filed on the basis of invalid return: ITAT Chandigarh

Income Tax : During the assessment proceedings, AO provided many opportunities to the Assessee to explain the nature and source of deposits mad...

December 7, 2024 90 Views 0 comment Print

CBDT extended time limit for filing application for recognition u/s. 80G: ITAT Jaipur

Income Tax : ITAT Jaipur held that time limit of filling the application for recognition u/s. 80G of the Act has been extended by the Board. Ac...

December 7, 2024 198 Views 0 comment Print

Margin accepted at ALP hence no separate benchmarking of royalty payment required

Income Tax : ITAT Bangalore held that no separate benchmarking of royalty payment required when the margin is accepted to be at arms length pri...

December 7, 2024 36 Views 0 comment Print

Considering merits of matter while deciding condonation application u/s. 119(2)(b) not justified

Income Tax : Kerala High Court held that considering merits of the matter while deciding application for condonation of delay for filing revise...

December 7, 2024 186 Views 0 comment Print

No Section 271B Penalty for Technical Breach Without Malafide Intent

Income Tax : ITAT Bangalore rules penalty under Section 271B cannot be levied for technical breach without malafide intention, in the case of C...

December 7, 2024 198 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 3135 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 7191 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 405 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 807 Views 0 comment Print


Circular No. 479-Income Tax dated 16-1-1987

January 16, 1987 528 Views 0 comment Print

Circular: No. 479-Income Tax . Indian Banks’ Association had sought a clarification as to whether the payment in cash of periodical interest amount along exceeding Rs. 10,000 would attract the provisions of section 269T. This section provides that no company, co-operative society or firm shall repay any deposit otherwise than by an account payee cheque or account payee bank draft where the amount of deposit or the

Circular No. 478-Income Tax dated 14-1-1987

January 14, 1987 486 Views 0 comment Print

Circular : No. 478 -Income Tax In the case of every individual or Hindu undivided family or unregistered firm or other association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii ) of clause (31) of section 2 of the Income-tax Act, not being a case to which Sub-Paragraph II of this Paragraph or any other Paragraph of this part applies

Notification No. S.O.1753-Income Tax, Dated: 13.01.1987

January 13, 1987 364 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 Madras Crocodile Bank Trust , for the purpose of the said clause for the assessment years 1983-84 to 1985-86.

Notification No. S.O.1754-Income Tax, Dated: 13.01.1987

January 13, 1987 190 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 NAB Lions Home for Aging Blind, Pune , for the purpose of the said clause for the assessment years 1981-82 to 1986-87.

Notification No. S.O.377-Income Tax, Dated: 13.01.1987

January 13, 1987 253 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 National Welfare Fund for Sports Persons, New Delhi for the purpose of the said clause for the assessment years 1983-84 to 1985-86.

Notification No. S.O.1755-Income Tax, Dated: 13.01.1987

January 13, 1987 211 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 Tamil Nadu Police Families Welfare Organisation , for the purpose of the said clause for the assessment years 1983-84 to 1986-87.

Notification No. S.O.518-Income Tax, Dated: 13.01.1987

January 13, 1987 313 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 Karkala Sri Mariamma Temple, Karkala for the purpose of the said clause for the assessment year 1988-89.

Notification No. S.O.603-Inocme Tax, Dated: 13.01.1987

January 13, 1987 211 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 Shri Thakurji Laxmi Nath Ji Trust, Jhunjhunu for the purpose of the said clause for the assessment years 1984-85 to 1986-87.

Notification No. S.O.739-Income Tax, Dated: 12.01.1987

January 12, 1987 214 Views 0 comment Print

In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Temple of Bhagwan Parshwanath situated at Bhadrawati (Dist. Chandrapur), Maharashtra to be place of public worship of renown throughout the State of Maharashtra for the purpose of the said clause.

Notification No. S.O.376-Income Tax, Dated: 09.01.1987

January 9, 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 Yug Nirman Yojana Trust, Mathura for the purpose of the said clause for the assessment years 1986-87 and 1987-88.

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