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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


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 135 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 3099 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 360 Views 0 comment Print

Guide to TCS under Section 206C(1H) and TDS under Section 194Q

Income Tax : Understand provisions of TCS under Section 206C(1H) and TDS under Section 194Q, including applicability, rates, exclusions and com...

December 5, 2024 246 Views 0 comment Print

Direct Tax Vivad Se Vishwas Scheme, 2024: Overview & Details

Income Tax : Learn about Direct Tax Vivad Se Vishwas Scheme, 2024, its eligibility criteria, procedure, benefits, ineligible cases, and key fea...

December 4, 2024 1176 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 69 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 165 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 1320 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 3849 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 39048 Views 4 comments Print


Latest Judiciary


Penalty u/s. 271(1)(c) untenable without concealment of income or furnishing of inaccurate particulars

Income Tax : ITAT Kolkata held that imposition of penalty u/s. 271(1)(c) of the Income Tax Act untenable without concealment of particulars of ...

December 6, 2024 15 Views 0 comment Print

Addition u/s. 68 deleted in absence of any adverse incriminating material: ITAT Delhi

Income Tax : ITAT Delhi held that addition under section 68 towards unexplained income rightly deleted as no adverse incriminating material/ do...

December 6, 2024 21 Views 0 comment Print

Accumulated profits u/s. 2(22)(e) to be computed after deducting depreciation as per income tax rules

Income Tax : Telangana High Court held that accumulated profits under section 2(22)(e) of the Income Tax Act are to be computed taking into acc...

December 6, 2024 15 Views 0 comment Print

Addition towards penny stock deleted as onus duly discharged: ITAT Mumbai

Income Tax : ITAT Mumbai held that addition under section 68 of the Income Tax Act made towards penny stock deleted since assessee duly dischar...

December 6, 2024 15 Views 0 comment Print

Contribution to PF doesn’t exceed 27% of salary and wages hence disallowance deleted: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that disallowances on account of excess contribution to PF deleted since the same didn’t exceed 27% of the s...

December 6, 2024 18 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 156 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 3066 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 7023 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 384 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 795 Views 0 comment Print


Notification No. S.O.1597-Income Tax, Dated: 07.01.1987

January 7, 1987 265 Views 0 comment Print

In continuation of this Office Notification No. 6253 (F. No. 203/46/85-ITA. II), dated 7-6-1985, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Scientific and Industrial Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 (Thirty-five/one/two) of the Incometax Act, 1961, read with rule 6 of the Income-tax Rules, 1962, under the category Association subject to the following conditions.

Notification No. S.O.1595-Income Tax, Dated: 06.01.1987

January 6, 1987 295 Views 0 comment Print

That the said Association 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.1596-Income Tax, Dated: 06.01.1987

January 6, 1987 238 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.4(E)-Income Tax, Dated: 02.01.1987

January 2, 1987 229 Views 0 comment Print

This notification contains Amendment to Income-tax (Amendment) Rules, 1987 carried out on 2nd January, 1987 not reproduced here as it is already contained in the body of the Rules itself.

Circular No. 477-Income Tax dated 1-1-1987

January 1, 1987 516 Views 0 comment Print

Circular No. 477-Income Tax Explanatory Notes ESTATE DUTY (AMENDMENT) ACT, 1986 1. The Estate Duty (Amendment) Bill, 1986, as passed by both the Houses of Parliament during the last session, received assent of the President on 26th November, 1986, and has been published in the Gazette of India, Extraordinary, Part II, dated 27th November, 1986, as Act No. 49 of 1986

Notification No. S.O.517-Income Tax, Dated: 30.12.1986

December 30, 1986 334 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 ” The Thrikkakara Kshetra Kshema Samithi, Cochin ” to be a place of public worship of renown throughout the State of Kerala under the said clause.

Notification No. S.O.254-Income Tax, Dated: 29.12.1986

December 29, 1986 337 Views 0 comment Print

That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department or 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.250-Income Tax, Dated: 29.12.1986

December 29, 1986 286 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 its 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.

Notification No. S.O.252-Income Tax, Dated: 29.12.1986

December 29, 1986 223 Views 0 comment Print

That the said Association will apply to the Central Board of Direct Taxes, Ministry of Finance (Department or 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.251-Income Tax, Dated: 29.12.1986

December 29, 1986 250 Views 0 comment Print

That the said Institute will not receive any sum to be used for non-research activities such as establishment of planetarium and activities connected with education, training and the like under section 35(1)(ii). It will also not spend any sums received under section 35(1)(ii) towards the aforesaid activities.

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