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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 Tax Bill 2025: Key Proposals and Simplifications

Income Tax : Discover key changes in the Income Tax Bill 2025, including enhanced rebates, simplified trust provisions, and extended registrati...

March 15, 2025 672 Views 0 comment Print

Analysis of Section 194T of Income Tax Act 1961: TDS on Payments to Partners

Income Tax : Section 194T mandates 10% TDS on partner payments exceeding ₹20,000 annually, effective April 1, 2025. Learn its impact, complia...

March 15, 2025 1020 Views 0 comment Print

Income from ‘Profits and Gains of Business or Profession’

Income Tax : Understand income tax rules for business & profession in India. Covers business, profession, vocation, occupation, and deduction g...

March 15, 2025 708 Views 0 comment Print

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 945 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 1650 Views 0 comment Print


Latest News


Corporate Tax Collection Trends & Foreign Investment Policies

Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...

March 16, 2025 51 Views 0 comment Print

Impact of New Income Tax Bill 2025 on Compliance & Revenue

Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...

March 16, 2025 126 Views 0 comment Print

Govt Expects 12.65% Rise in Income Tax Collections Despite Tax Rate Cut

Income Tax : The Finance Bill 2025 projects a 12.65% rise in income tax collections despite tax cuts, with estimated receipts of ₹25.20 lakh ...

March 16, 2025 60 Views 0 comment Print

Impact of Tax Rate Reduction on Middle-Class & Savings

Income Tax : The Finance Bill 2025 revises tax slabs, reducing the burden on middle-class taxpayers. The changes aim to boost savings and consu...

March 16, 2025 63 Views 0 comment Print

Corporate Tax Revenue Collection and Statewise Distribution

Income Tax : Corporate tax revenue distribution follows Finance Commission guidelines, with states receiving 41% of shareable taxes. Incentives...

March 16, 2025 60 Views 0 comment Print


Latest Judiciary


Kerala HC Stays Income Tax Recovery Against Pulikkal Medical Foundation

Income Tax : Kerala High Court halts recovery proceedings against Pulikkal Medical Foundation, pending appeals on income tax orders under Secti...

March 17, 2025 21 Views 0 comment Print

Appeal Delay: CA/Advocate Failure Not Excuse – ITAT Kolkata

Income Tax : ITAT Kolkata rejects appeal delayed by 2655 days, citing assessee negligence despite CA/advocate failure; Sumita Roy Chowdhury cas...

March 17, 2025 27 Views 0 comment Print

CIT(A) Must Decide even Ex-Parte Appeals on Merits: ITAT Cochin

Income Tax : Key highlights of the ITAT Cochin order in Premalatha Korottoliprasantham Vs ITO for AY 2017-18, addressing non-filing of returns ...

March 17, 2025 27 Views 0 comment Print

Kerala HC Stays Income Tax Recovery Pending ITAT Appeal

Income Tax : Kerala High Court halts income tax recovery against SML Finance Ltd. until ITAT disposes of pending appeal for assessment year 201...

March 17, 2025 33 Views 0 comment Print

CIT(A) NFAC Must Address Appeals on Merits Even in Ex-Parte Orders: ITAT Pune

Income Tax : ITAT Pune mandates CIT(A) to decide cases on merit, even ex parte, remanding Santosh Varade's income addition dispute for reassess...

March 17, 2025 36 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 1023 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 648 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 609 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 315 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 9681 Views 0 comment Print


Notification No. S.O.2142 – Income Tax Dated 21/7/1999

July 21, 1999 375 Views 0 comment Print

Notification No.S. O. 2142 – Income Tax In exercise of the powers conferred by the Explanation C(i) of section 10(23G) of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby notifies Inland Container Depot (ICD) and Container Freight Station (CFS) as infrastructure faci ity. 2. Provided that such places are notified as Inland Container Depot including Container Freight Stations under the Customs Act, 1962.

Notification No. 11003/1999 – Income Tax Dated 21/7/1999

July 21, 1999 343 Views 0 comment Print

Notification No. 11003/1999 – Income Tax In exercise of the powers conferred by Explanation C(i) of section 10(23G) of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby notifies Inland Container Depot (ICD) and Container Freight Station (CFS) as infrastructure facility. Provided that such places are notified as Inland Container Depot including Container Freight Stations under the Customs Act

Penalty on Declaration of additional income to buy peace with Department?

July 20, 1999 5479 Views 0 comment Print

Shorn of all details, it emerges that the assessee first filed his returns for the assessment years 1983-84, 1984-85, 1985-86 and 1986-87 showing income ranging between Rs. 10,000 and Rs. 12,000. Later action under Section 132 was taken against him which led to reopening of the assessment. A notice under Section 148 was served on him

Notification No. S.O.2065 – Income Tax Dated 13/7/1999

July 13, 1999 372 Views 0 comment Print

Notification No.S. O. 2065 – 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 1999-2000, 2000-2001 and 2001-2002

Notification No. 10999/1999 – Income Tax Dated 13/7/1999

July 13, 1999 364 Views 0 comment Print

Notification No. 10999/1999 – 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 1999-2000 and 2000-2001 and 2001-2002

Notification No. S.O.565(E) – Income Tax Dated 8/7/1999

July 8, 1999 324 Views 0 comment Print

Notification No.S. O. 565(E) – Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ABN Amro Bank Money Market Mutual Fund, set up by the ABN Amro Bank, N. V. 302 Dalamal House, Nariman Point, Mumbai-400 121 and authorised by the Reserve Bank of India, as a Money Market Mutual Fund

Notification No. S.O.564(E) – Income Tax Dated 8/7/1999

July 8, 1999 465 Views 0 comment Print

Notification No.S. O. 564(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Tax-free (2008-Ist Series) Non-convertible, Unsecured and Redeemable Bonds of rupees one lakh each carrying an interest of 10.40% per annum payable half-yearly for a period of ten years for an amount of

Notification No. S.O.563(E) – Income Tax Dated 8/7/1999

July 8, 1999 204 Views 0 comment Print

Notification No.S. O. 563(E) – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, the 5-years 17% interest per annum payable halfyearly secured, redeemable, non-convertible taxable debentures in the nature of bonds (V-Issue I-Series) of Rs. 1,00,000 each for an amount of rupees four hundred ninety one

Notification No. S.O.562(E) – Income Tax Dated 8/7/1999

July 8, 1999 333 Views 0 comment Print

Notification No.S. O. 562(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies

Notification No. S.O.1989 – Income Tax Dated 8/7/1999

July 8, 1999 273 Views 0 comment Print

Notification No. S. O. 1989 – Income Tax It is notified for general information that Power Finance Corporation Ltd., New Delhi, has been approved by the Central Government as a corporation engaged for providing long-term finance for industrial development in the country for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000

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