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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


FAQs on Prosecution provision under Income Tax Act, 1961

Income Tax : Learn about prosecution under IT Act sections 275A to 280, including penalties and conditions for launching prosecution....

August 24, 2024 105 Views 0 comment Print

FAQs on Penalty provisions under Income Tax Act, 1961

Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...

August 24, 2024 78 Views 0 comment Print

FAQs on ICDS (Income Computation and Disclosure Standards)

Income Tax : Learn key details about ICDS including its scope, applicability to contracts, and disclosure requirements under different ICDS sta...

August 24, 2024 189 Views 0 comment Print

FAQs on Disallowance of cash expenses or limit on cash transactions

Income Tax : Understand key provisions on disallowance of cash expenses, limits on cash transactions, and penalties under Sections 269T, 269SS,...

August 24, 2024 156 Views 0 comment Print

Income Tax for New Tax Return Filers- FAQs

Income Tax : Learn about India's Income Tax system, including its administration, who pays it, applicable rates, and the process for paying tax...

August 24, 2024 73657 Views 21 comments Print


Latest News


Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 23, 2024 891 Views 0 comment Print

Live Course: Handling Faceless Income Tax Assessment with AI Tools like ChatGPT

Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...

August 23, 2024 1386 Views 0 comment Print

CBDT Central Action Plan 2024-2025

Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...

August 22, 2024 1155 Views 0 comment Print

Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights – Starting Today

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 19, 2024 3231 Views 0 comment Print

Direct Tax Collections FY 2024-25 Reach Rs. 6.93 Lakh Crores as on 11.08.2024

Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...

August 13, 2024 285 Views 0 comment Print


Latest Judiciary


Non-compliance with specified authority’s approval requirements invalidates assessment order

Income Tax : Calcutta High Court dismisses revenue's appeal challenging assessment order due to non-compliance with Section 151(ii) approval re...

August 24, 2024 69 Views 0 comment Print

HC Dismisses Revenue Appeal; As no Question of Law Arising from Tribunal’s Order

Income Tax : Calcutta HC dismisses PCIT appeal on bogus share loss, finding no grounds for reconsidering ITAT's order in Zulu Merchandise Pvt L...

August 24, 2024 234 Views 0 comment Print

Exemption u/s 10(23C)(iv) could not be rejected if net surplus was less than 20% of Total Receipts under second proviso to sec 2(15)

Income Tax : Assessee was a non-profit organization registered under Section 25 and was approved U/s.10(23C)(iv). The main activity of the coun...

August 24, 2024 102 Views 0 comment Print

ITAT Dismisses Appeal as Infructuous Following NCLT Approval of Resolution Plan

Income Tax : Calcutta High Court dismisses IT department's appeal against ITAT ruling after NCLT approves resolution plan for Srei Infrastructu...

August 24, 2024 81 Views 0 comment Print

Granting response time of less than seven days results into breach of principles of natural justice: Bombay HC

Income Tax : This petition under Article 226 of the Constitution of India assails the Assessment Order dated 27 March, 2024 passed by Responden...

August 23, 2024 291 Views 0 comment Print


Latest Notifications


Income Tax: New Guidelines for Filing application under section 10(46A)

Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...

August 20, 2024 3474 Views 0 comment Print

President Assents Finance (No 2) Bill, 2024 i.e. Finance (No. 2) Act, 2024

Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...

August 18, 2024 2067 Views 0 comment Print

Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 3849 Views 0 comment Print

Guidelines for Handling High-Risk PAN Cases in Insight Portal

Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...

August 12, 2024 13266 Views 0 comment Print

Income Tax Exemption for UIDAI’s Specified Income 2024-2029

Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...

August 12, 2024 324 Views 0 comment Print


Circular No. 345-Income Tax dated 28/6/1982

June 28, 1982 873 Views 0 comment Print

Circular No.345 – Income Tax The Income-tax (Amendment) Ordinance, 1981 was promulgated by the President on July 11, 1981. The Ordinance was replaced by the Income-tax (Second Amendment) Bill, 1981, which was introduced in the Lok Sabha on September 8, 1981. The Bill was passed by both the Houses of Parliament and received the assent of the President on September 19, 1981 and has been enacted as Act No. 38 of 1981. This circular explains the substance of the provisions of the Income-tax (Second Amendment) Act

Notification No. S.O.448(E)-Income Tax Dated: 26/6/1982

June 26, 1982 453 Views 0 comment Print

Notification No. S.O.448(E)-Income Tax This notification contains Amendment to Income-tax (Sixth Amendment) Rules, 1982 carried out on June 26, 1982 not reproduced here as it is already contained in the body of the Rules itself

Notification No. S.O.2912-Income Tax Dated: 23/6/1982

June 23, 1982 276 Views 0 comment Print

Notification No. S.O.2912-Income Tax 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 Kottar Social Service Society, for the purpose of the said section for the period covered by the assessment years 1980-81 to 1982-83.

Notification No. S.O.2911-Income Tax Dated: 23/6/1982

June 23, 1982 198 Views 0 comment Print

Notification No. S.O.2911-Income Tax 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 Mahanirvan Math, Birbhum, for the purpose of the said section for the period covered by the assessment years 1980-81 to 1982-83.

Circular No. 344-Income Tax dated 22-6-1982

June 22, 1982 834 Views 0 comment Print

Circular No. 344-Income Tax The Income-tax (Amendment) Bill, 1981 was passed by both Houses of Parliament during the monsoon session last year and received the assent of the President on September 4, 1981. It has been enacted as the Income-tax (Amendment) Act, 1981 and published in the Gazette of India (Extraordinary), dated September 4, 1981 as Act 22 of 1981.

Notification No. S.O.433(E)-Income Tax Dated: 21/6/1982

June 21, 1982 312 Views 0 comment Print

Notification No. S.O.433(E)-Income Tax This notification contains Amendment to Income-tax (Fifth Amendment) Rules 1982, carried out on June 21, 1982 not reproduced here as it is already contained in the body of the Rules itself

Notification No. S.O.4107-Income Tax Dated: 21/6/1982

June 21, 1982 249 Views 0 comment Print

Notification No. S.O.4107-Income Tax (i) That the Sangeet Research Academy, Calcutta, will maintain a separate account of the sums received by it for scientific research in the field of natural and applied sciences other than agriculture/animal husbandry/fisheries and medicines

Notification No. S.O.396-Income Tax Dated: 19/6/1982

June 19, 1982 297 Views 0 comment Print

Notification No. S.O.396-Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Department of Science & Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6 of the Income-tax Rules, 1962

Notification No. S.O.158-Income Tax Dated: 19/6/1982

June 19, 1982 318 Views 0 comment Print

Notification No. S.O.158-Income Tax It is hereby notified for general information that the following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962, by the Indian Council of Medical Research, New Delhi.

Notification No. S.O.2910-Income Tax Dated: 9/6/1982

June 9, 1982 246 Views 0 comment Print

Notification No. S.O.2910-Income Tax 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 The Board of Trustees of the Temples, Charitable Institutions and Funds of the Goud Saraswat Brahman Community of Bombay, for the purpose of the said section for the period covered by the assessment years 1980-81 to 1982-83.

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