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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


Resolving Customer Complaints: A Banker’s Experience

Income Tax : Discover how a banker resolved a longstanding customer complaint through effective communication, empathy, and attentive listening...

December 10, 2024 105 Views 0 comment Print

Income Tax Implications on Sale of Property in India

Income Tax : Understand capital gains tax, exemptions under Sections 54/54F, TDS rates, and tax filing requirements for property sales in India...

December 10, 2024 987 Views 0 comment Print

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 2331 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 1149 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 1329 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 213 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 360 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 1404 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 3885 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 39138 Views 4 comments Print


Latest Judiciary


Revenue appeal dismissed as opportunity to counter allegation not afforded: Delhi HC

Income Tax : Delhi High Court held that the assessee was not afforded an opportunity to counter the allegation that it was a conduit company wi...

December 10, 2024 45 Views 0 comment Print

Disallowance of sales promotion expense deleted as disallowance is very less as compared to turnover

Income Tax : ITAT Ahmedabad deleted disallowance of sales promotion expenditure since disallowance constitutes small percentage as compared to ...

December 10, 2024 45 Views 0 comment Print

Disallowance not justified as expenditure mistakenly presumed as personal expenditure: ITAT Delhi

Income Tax : ITAT Delhi held that disallowance @10% of personnel expenditure not justified since AO mistakenly presumed expenses claimed by ass...

December 10, 2024 39 Views 0 comment Print

Penalty notice u/s. 271(1)(c) without specifying correct limb is invalid: ITAT Kolkata

Income Tax : A proceeding u/s 271(1) (c) of the Act was initiated against the assessee as during the assessment proceedings u/s 143(3) of the A...

December 10, 2024 108 Views 0 comment Print

Assessment proceedings based on invalid notice is liable to be quashed: ITAT Kolkata

Income Tax : ITAT Kolkata held that notice issued under section 143(2) of the Income Tax Act by AO not having valid jurisdiction is not sustain...

December 10, 2024 105 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 186 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 3438 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 7254 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 426 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 834 Views 0 comment Print


Notification No. S.O.1761-Income Tax, Dated: 26.02.1987

February 26, 1987 265 Views 0 comment Print

Notification No. S.O.1761-Income Tax, Dated: 26.02.1987 Central Government hereby notifies Maratha Mandir, Bombay , for the purpose of the said clause for the assessment year 1988-89.

Notification No. S.O. 1762-Income Tax, Dated: 26.02.1987

February 26, 1987 343 Views 0 comment Print

Notification: S.O.1762 Section(s) Referred: 10 ,10(23C) ,10(23C)(iv) Central Government hereby notifies Gurudev Siddha Peeth Ganeshpuri, for the purpose of the said clause for the assessment years 1984-85 to 1986-87.

Notification No. S.O.1763-Income Tax, Dated: 26.02.1987

February 26, 1987 250 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 Kishore Bharati, Hoshangabad for the purpose of the said clause for the assessment years 1986-87 to 1987-88.

Notification No. S.O.1764-Income Tax, Dated: 26.02.1987

February 26, 1987 331 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 C.P. Ramaswami Ayyar Foundation , for the purpose of the said clause for the assessment years 1986-87 to 1987-88.

Circular No. 481Income Tax dated 20-2-1987

February 20, 1987 516 Views 0 comment Print

Circular No: 481-Income Tax Attention is invited to the Board’s Circular No. 445 (F. No. 200/177/84-IT(AI)) dated 31-12-1985,* wherein it was laid down that the reimbursement by the employer of medical expenses, such as, operation fee, hopitalisation charges and cost of medicines, tests, etc., actually incurred in India by the employee on medical treatment in a recognised public hospital will not be treated as perquisite

Collector, Land Acquisition Vs. MST.Katiji & Ors., (167 ITR 471) (SC)

February 19, 1987 24770 Views 0 comment Print

An appeal by the State. against a decision enhancing compensation in respect of acquisition of lands for a public purpose, raising important questions as regards principles of valuation, was dismissed by the High Court as time barred, being four days beyond time, by rejecting an application for condonation of dalay. The State appealed to this Court by special leave.Allowing the appeal,

Notification No. S.O.1759-Income Tax, Dated: 18.02.1987

February 18, 1987 310 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 Karnataka Police Benevolent Fund , for the purpose of the said clause for the assessment years 1986-87 to 1988-89.

Notification No. S.O.1760-Income Tax, Dated: 18.02.1987

February 18, 1987 355 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 Seafarers’ Welfare Fund Society, Bombay , for the purpose of the said clause for the assessment years 1985-86 to 1986-87.

Notification No. S.O.1783-Income Tax, Dated: 18.02.1987

February 18, 1987 172 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 Institute for Motivating Self-employment, Calcutta for the purpose of the said clause for the assessment years 1985-86 to 1987-88.

Notification No. S.O.832-Income Tax, Dated: 18.02.1987

February 18, 1987 253 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 Sri Seetharamachandra Swamy Devasthanam, Bhadrachalam for the purpose of the said clause for the assessment years 1985-86 to 1987-88.

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