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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


New Income Tax Bill 2025: Streamlining India’s Tax System for Modern Times

Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...

February 12, 2025 303 Views 0 comment Print

Flat Taxes in India: Oversimplification or need of the hour?

Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...

February 12, 2025 84 Views 0 comment Print

Nil Tax Up To Rs. 12 Lakhs Income (FY 2025-26); Tax Computation With Illustrations & FAQs

Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...

February 11, 2025 7767 Views 0 comment Print

Section 194H Applicability on Commission of E-Commerce Operators

Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...

February 11, 2025 201 Views 0 comment Print

Budget 2025 Amendments to Section 72A: Impact on Tax Loss Carry-Forward

Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...

February 11, 2025 174 Views 0 comment Print


Latest News


Reminder for Filing TDS Statement 26Q for Q2 FY 2024-25

Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...

February 8, 2025 10467 Views 2 comments Print

Union Cabinet Approves New Income Tax Bill 2025 to Replace 1961 Act

Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...

February 8, 2025 13308 Views 1 comment Print

CBI Files Case Against 3 Tax Officials, 5 CAs for Sabotaging Faceless Tax Scheme

Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...

February 7, 2025 12408 Views 0 comment Print

India’s Tax Arrears Reach ₹42.64 Lakh Crore

Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...

February 6, 2025 42 Views 0 comment Print

Decriminalization of Minor Direct Tax Offenses in India

Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...

February 6, 2025 66 Views 0 comment Print


Latest Judiciary


It is unfair to confirm penalty u/s. 271B before finalization of quantum assessment: ITAT Agra

Income Tax : ITAT Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...

February 12, 2025 33 Views 0 comment Print

Provision of section 68 or 69A not invocable as cash deposit during demonetization duly explained

Income Tax : ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustifi...

February 12, 2025 27 Views 0 comment Print

Revision u/s. 264 accepted to rectify suo moto disallowance with belief that amount is taxable

Income Tax : Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxati...

February 12, 2025 36 Views 0 comment Print

Compounding of Income Tax Offences for belated Return filings: SC Ruling

Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....

February 11, 2025 4341 Views 0 comment Print

Section 269SS Not Applicable to Broker Acting as Agent or Facilitator of Payment

Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...

February 11, 2025 4437 Views 0 comment Print


Latest Notifications


Govt released Income-Tax Bill, 2025 (Download)

Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...

February 12, 2025 12219 Views 0 comment Print

Income Tax Act: Bhaikaka University Approved for Research

Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...

February 11, 2025 159 Views 0 comment Print

Income Tax Act: Section 285 Notification for Liaison Office Statement Filing

Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...

February 10, 2025 270 Views 0 comment Print

Income-Tax Rule 2F Amended for Infrastructure Debt Funds

Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...

February 7, 2025 282 Views 0 comment Print

CBDT Shares Taxpayer Data for PMGKAY Eligibility

Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...

February 4, 2025 2580 Views 0 comment Print


Notification No. S.O.1729-Income Tax, Dated: 30.03.1989

March 30, 1989 199 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 and DGIT (Exemption), Calcutta, 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.1730-Income Tax, Dated: 30.03.1989

March 30, 1989 280 Views 0 comment Print

That the said Institute will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, DGIT (Exemption), Calcutta, and the concerned Commissioner of Income-tax.

Notification No. S.O.2039-Income Tax, Dated: 30.03.1989

March 30, 1989 268 Views 0 comment Print

That the said Institute will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 31st May, each year.

Notification No. S.O.2418-Income Tax, Dated: 30.03.1989

March 30, 1989 211 Views 0 comment Print

That the said Association will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 31st May, each year.

Notification No. S.O.2419-Income Tax, Dated: 30.03.1989

March 30, 1989 220 Views 0 comment Print

That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi and DGIT (Exemption), Calcutta, 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.243(E) – Income Tax Dated 30/3/1989

March 30, 1989 420 Views 0 comment Print

Notification No.S.O.243(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Chief Commissioner (Administration), Calcutta, having his headquarters at Calcutta, shall also have jurisdiction in respect of the territorial area of the State of Sikkim

Notification No. S.O.239(E)-Income Tax, Dated: 29.03.1989

March 29, 1989 331 Views 0 comment Print

This notification contains Amendment (First Amendment) to Income-tax Rules carried out on 29th March, 1989 not reproduced here as it is already contained in the body of the Rules itself.

Notification No. S.O.1726-Income Tax, Dated: 28.03.1989

March 28, 1989 265 Views 0 comment Print

That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, and DGIT (Exemption), Calcutta, 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.1727-Income Tax, Dated: 28.03.1989

March 28, 1989 214 Views 0 comment Print

That the said Institute will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 31st May, each year.

Notification No. S.O.1728-Income Tax, Dated: 28.03.1989

March 28, 1989 241 Views 0 comment Print

That the said Institute will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, DGIT (Exemption), Calcutta, and the concerned Commissioner of Income-tax.

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