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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 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 6 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 6 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 73006 Views 21 comments Print

FAQs on Benami Transactions Informants Reward Scheme, 2018

Income Tax : Discover key details about the Benami Transactions Informants Reward Scheme, 2018, including eligibility, reward amounts, and proc...

August 24, 2024 12 Views 0 comment Print

Tax on Business Gifts and Perquisites Explained Simply

Income Tax : Learn how gifts and benefits received in business, like non-cash items, are taxed under Section 28(iv) of the Income Tax Act. Unde...

August 24, 2024 12 Views 0 comment 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 759 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 1179 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 1125 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 3159 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 282 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 12 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 18 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 9 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 15 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 72 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 3384 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 2019 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 3810 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 13239 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


Notification No. S.O.943-Income Tax Dated: 16/2/1982

February 16, 1982 243 Views 0 comment Print

Notification No. S.O.943-Income Tax 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 Stock Exchange, Bombay for the purpose of the said section for the period covered by the assessment years 1979-80 to 1981-82.

Notification No. S.O.1162-Income Tax Dated: 16/2/1982

February 16, 1982 315 Views 0 comment Print

Notification No. S.O.1162-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 Sri Guru Singh Sabha (Regd.), Bombay, for the purpose of the said section for the period covered by the assessment years 1979-80 to 1981-82.

Notification No. S.O.1161-Income Tax Dated: 16/2/1982

February 16, 1982 204 Views 0 comment Print

Notification No. S.O.1161-Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (24 of 1961), the Central Government hereby notifies Sri Thirupuraikkal Bhagavathy Temple, Vadakkanthara, for the purpose of the said section for the period covered by the assessment years 1975-76 to 1982-83.

Notification No. S.O.942-Income Tax Dated: 15/2/1982

February 15, 1982 270 Views 0 comment Print

Notification No. S.O.942-Income Tax 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 Khelaghar Shishu Nivas O Shiksha Kendra for the purpose of the said section for the period covered by the assessment years 1979-80 to 1982-83.

Notification No. S.O.1577-Income Tax Dated: 15/2/1982

February 15, 1982 339 Views 0 comment Print

Notification No. S.O.1577-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 following Gurudwaras, for the purpose of the said section for the period covered by the assessment years 1981-82 to 1985-86

Notification No. S.O.941-Income Tax Dated: 12/2/1982

February 12, 1982 456 Views 0 comment Print

Notification No. S.O.941-Income Tax 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 Association for Hindu Dharma (Regd.) for the purpose of the said section for the period covered by the assessment years 1979-80 to 1982-83.

Notification No. S.O.1160-Income Tax Dated: 12/2/1982

February 12, 1982 420 Views 0 comment Print

Notification No. S.O.1160-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 Srirangam Srimad Andavan Periashraman, Srirangam, for the purpose of the said section for the period covered by the assessment years 1982-83 to 1984-85.

Notification No. S.O.1178 – Income Tax Dated: 11/2/1982

February 11, 1982 420 Views 0 comment Print

Notification No. S.O.1178 – Income Tax In exercise of the powers conferred by clause (a) of sub-section (2) of section 119 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Income-tax Officer, making the reassessment or recomputation under section 147 of the said Act, shall not issue a notice under section 148 of the said

Circular No. 327-Income Tax dated 8-2-1982

February 8, 1982 483 Views 0 comment Print

Circular No. 327-Income Tax Section 80GG provides for grant of a deduction in respect of any expenditure incurred by an assessee in excess of 10 per cent of his total income towards payment of rent (by whatever name called), to the extent to which such excess expenditure does not exceed Rs. 300 p.m. or 15 per cent of the total income of the assessee for the year

Notification No. S.O. 2810 – Income Tax Dated: 8/2/1982

February 8, 1982 306 Views 0 comment Print

Notification No. S.O. 2810 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the following conditions

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