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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 Annual Information System (AIS) & Taxpayer Information Summary (TIS)

Income Tax : Learn about the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). Find out how to access them and what in...

August 23, 2024 6 Views 0 comment Print

FAQs on agricultural income taxation (Section 2(1A) and Rule 7)

Income Tax : Understand agricultural income rules under Section 2(1A) and Rule 7. Learn about income eligibility, deductions, and tax treatment...

August 23, 2024 6 Views 0 comment Print

FAQs on Faceless Income-tax Proceedings

Income Tax : Learn about the Faceless Income-Tax Proceedings, including e-Proceedings features, differences from manual assessments, and how to...

August 23, 2024 9 Views 0 comment Print

FAQs on Compounding of Offences under Income Tax Act, 1961

Income Tax : Learn about the compounding of offences under direct tax laws, including eligible offences, competent authorities, and the process...

August 23, 2024 3 Views 0 comment Print

FAQs on Section 80TTA and Section 80TTB deduction

Income Tax : Learn about deductions under Section 80TTA and 80TTB, including eligibility, limits, and who can claim these tax benefits....

August 23, 2024 6 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 402 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 738 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 1032 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 3036 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 279 Views 0 comment Print


Latest Judiciary


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 24 Views 0 comment Print

Investment by firm allowable as deduction u/s. 54G to partner as per his partnership share: ITAT Rajkot

Income Tax : ITAT Rajkot held that each partner is owner of the assets to the extent of his share in the partnership, hence, exemption u/s 54G ...

August 23, 2024 12 Views 0 comment Print

Co-operative credit society providing credit facilities only to its members not hit by section 80P(4): ITAT Mumbai

Income Tax : The assessee is a co–operative credit society, registered under Maharashtra co–operative society Act, 1960 and is engaged in p...

August 23, 2024 12 Views 0 comment Print

Notice initiating fresh assessment set aside as issued beyond prescribed time limit: Delhi HC

Income Tax : Delhi High Court held that department need to comply with the order of the Tribunal in passing a fresh assessment order within the...

August 23, 2024 24 Views 0 comment Print

Revision proceedings u/s. 263 cannot be invoked without giving reasons for setting aside assessment order

Income Tax : ITAT Chennai held that invoking the revisionary powers under section 263 of the Income Tax Act without giving any reasoning for se...

August 23, 2024 9 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 3204 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 1989 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 3771 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 13200 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 315 Views 0 comment Print


Vazir Sultan Tobacco Company Ltd. Vs. CIT (1981) 132 ITR 559 (SC)

September 25, 1981 4710 Views 0 comment Print

Super Profits Tax Act, 1963 and Company’s (Profits) Sur-tax Act, 1964-Rule I of Second Schedule-Scope of- ‘Provision” and “Reserve’-Distinction- A sum of money transferred from current profits to general reserves- Dividend paid from that fund-General reserve how calculated.

Notification No. S.O.2464 – Income Tax Date 24/9/1981

September 24, 1981 331 Views 0 comment Print

Notification No. S.O.2464 – Income Tax It is hereby notified for general information that the following 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(ii) of the Income-tax Rules, 1962, by the Indian Council of Medical Research, New Delhi.

Circular No. 315-Income Tax dated 24-9-1981

September 24, 1981 306 Views 0 comment Print

Circular No. 315-Income Tax The Board had an occasion to consider the rate at which depreciation should be allowed in respect of “Motor vans” as no specific rate has been provided for them under Appendix I to the Income-tax Rules, 1962

Notification No. S.O.2463 – Income Tax Date 23/9/1981

September 23, 1981 289 Views 0 comment Print

Notification No. S.O.2463 – Income Tax In continuation of this department’s Notification No. 2452 (F. No. 203/54/78-ITA. II) dated 2nd August, 1978, 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

Notification No. S.O.2462 – Income Tax Dated 23/9/1981

September 23, 1981 271 Views 0 comment Print

Notification No. S.O.2462 – 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 Secretary, Department of Science and Technology, New Delhi

Notification No. S.O.2461 – Income Tax Date 23/9/1981

September 23, 1981 376 Views 0 comment Print

Notification No. S.O.2461 – Income Tax In continuation of this department’s Notification No. 2409 (F. No. 203/21/78-ITA. II) dated 17th July, 1978, it is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Department of Science and Technology, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961

Notification No. S.O.2460 – Income Tax Date 19/9/1981

September 19, 1981 235 Views 0 comment Print

Notification No- S.O.2460- Income Tax It is hereby notified for general information the following 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 theSecretary, Department of Science and Technology, New Delhi

Notification No. S.O.2459 – Income Tax Date 19/9/1981

September 19, 1981 319 Views 0 comment Print

Notification No- S.O.2459 – Income Tax It is hereby notified for general information 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 Secretary, Department of Science and Technology, New Delhi

Notification No. S.O.2458 – Income Tax Date 19/9/1981

September 19, 1981 358 Views 0 comment Print

Notification No- S.O.2458 – 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 Secretary, Department of Science & Technology, New Delhi

Notification No. S.O.3058 – Income Tax Date 18/9/1981

September 18, 1981 235 Views 0 comment Print

Notification No- S.O.3058 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Scoical 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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