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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


1% TCS on Luxury Goods (Effective April 22, 2025)

Income Tax : Notification No. 36/2025-Income Tax dated 22nd April 2025. For the first time, certain luxury goods priced above 10 lakh will attr...

April 27, 2025 12 Views 0 comment Print

Legal and Tax Concept Differentiators

Income Tax : Understand key differences between legal and tax terms like Act vs Rule, Exemption vs Deduction, TDS vs TCS, and more for better c...

April 25, 2025 429 Views 0 comment Print

ITAT Mumbai deletes ₹103 Crore Addition for Auto Driver

Income Tax : ITAT Mumbai ruled in favor of an auto-rickshaw driver, rejecting a ₹103 Crore income addition, citing insufficient investigation...

April 25, 2025 6717 Views 0 comment Print

Luxury Now Comes With Tax! All You Need to Know About 1% TCS on Luxury Goods

Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...

April 25, 2025 600 Views 0 comment Print

TCS on Luxury Goods: New Tax Rules in India

Income Tax : Learn about India's TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, a...

April 24, 2025 3969 Views 0 comment Print


Latest News


CBI Arrests IRS Officer for Sabotaging Faceless Tax Assessment Scheme

Income Tax : CBI arrests IRS officer and private individual for allegedly undermining the Faceless Tax Scheme by leaking confidential info for ...

April 26, 2025 237 Views 0 comment Print

CBDT Notification 38/2025: Settlement Expense Non-Deductibility – FAQs

Income Tax : Understand CBDT's Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violat...

April 25, 2025 4179 Views 0 comment Print

Inordinate Delay in Disposal of Appeals by National Faceless Appeal Centre

Income Tax : Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpa...

April 24, 2025 507 Views 0 comment Print

ITAT enables e-filing and virtual hearings

Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...

April 5, 2025 2541 Views 1 comment Print

Exemption From Income Tax on Annual Income Up To ₹12 Lakh

Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...

April 3, 2025 2166 Views 1 comment Print


Latest Judiciary


Reassessment on deceased assessee declared void ab initio: ITAT Surat

Income Tax : ITAT Surat ruled that reassessment of deceased person is void ab initio, quashing the order and allowing the appeal in Bharat Ranc...

April 27, 2025 Views 0 comment Print

Section 12A Registration Granted to Charitable Trust Despite Trustee Remuneration Clause: ITAT Cochin

Income Tax : ITAT Cochin grants 12A registration to Naughty's Pet Sanctuary, ruling against CIT(E)'s decision over trustee honorarium clause....

April 27, 2025 9 Views 0 comment Print

Penny Stock & Manipulated Transactions: ITAT denies LTCG Exemption Claim

Income Tax : ITAT Mumbai rules on Usha Chandresh Shah's appeal against treating share sale proceeds as cash credit instead of long-term capital...

April 26, 2025 165 Views 0 comment Print

HC Upholds Addition on Bogus Share Transactions Due to Rapid, Structured Dealings

Income Tax : Punjab & Haryana HC dismisses Balbir Chand Maini's appeal, upholding ITAT's finding of a non-genuine share sale transaction and in...

April 26, 2025 57 Views 0 comment Print

Section 68 Addition justified if Share purchase & sale transactions were deemed bogus

Income Tax : Punjab & Haryana HC affirms ITAT order, treating Chandan Gupta's share sale gain as unexplained income (Sec 68) due to bogus trans...

April 26, 2025 48 Views 0 comment Print


Latest Notifications


Mysore Palace Board Income Tax Exemption Notification – Section 10(46)

Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...

April 25, 2025 105 Views 0 comment Print

Expenses for Settlement of SEBI & Competition & Depositories Act Violations not allowable

Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...

April 24, 2025 171 Views 0 comment Print

Notification u/s 10(46A) of Income Tax Act in case of National Mission for Clean Ganga

Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...

April 23, 2025 87 Views 0 comment Print

CBDT notifies 10 new items on which TCS needs to be collected

Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ケ10 lakh, effectiv...

April 23, 2025 16746 Views 1 comment Print

CBDT amends form No. 27EQ and added 10 new items for TCS Reporting

Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...

April 23, 2025 1593 Views 0 comment Print


Notification No.241/2001- Income Tax Dated 16/1/2001

January 16, 2001 334 Views 0 comment Print

Notification No.241- Income Tax It is notified for general information that enterprises/industrial undertakings, listed at para. (3) below have 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 2001-2002, 2002-2003 and 2003-2004

Notification No.24/2001 – Income Tax Dated 16/1/2001

January 16, 2001 289 Views 0 comment Print

Notification No.24 – Income Tax It is notified for general information that the enterprise/industrial undertaking, 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 2001-2002, 2002-2003 and 2003-2004

Notification No.12/2001 – Income Tax Dated 16/1/2001

January 16, 2001 250 Views 0 comment Print

Notification No.12 – Income Tax It is notified for general information that enterprise/industrial undertaking, 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 2001-2002, 2002-2003 and 2003-2004

Notification No.11/2001- Income Tax Dated 16/1/2001

January 16, 2001 304 Views 0 comment Print

Notification No.11- Income Tax It is notified for general information that enterprises/industrial undertakings, listed at para (3) below have 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 2001-2002, 2002-2003 and 2003-2004.

Notification No. 11576/2000-Income Tax Dated 26/12/2000

December 26, 2000 739 Views 0 comment Print

Notification No. 11576/2000-Income Tax In exercise of the powers conferred under Explanation 4 to clause (19AA) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies that where the split up or the reconstructed authority or body, constituted or established under a Central, State or Provincial Act, is an entity engaged in the generation

Notification No. 1159(E)/2000-Income Tax Dated 26/12/2000

December 26, 2000 643 Views 0 comment Print

Notification No. 1159(E)/2000-Income Tax In exercise of the powers conferred under Explanation 4 to clause (19AA) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies that where the split up or the reconstructed authority or body, constituted or established under a Central, State or Provincial Act, is an entity engaged in the generation

Notification No. 1/2000-Income Tax Dated 22/12/2000

December 22, 2000 256 Views 0 comment Print

Notification No. 1/2000-Income Tax It is notified for general information that enterprises/industrial undertakings, listed at para (3) below have 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 2001-2002, 2002-2003 and 2003-2004.

Notification No. 2/2000-Income Tax Dated 22/12/2000

December 22, 2000 241 Views 0 comment Print

Notification No. 2/200-Income Tax It is notified for general information that enterprises/industrial undertaking, 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 2000-2001, 2001-2002 and 2002-2003.

Notification No. 11574/2000-Income Tax Dated 22/12/2000

December 22, 2000 361 Views 0 comment Print

Notification No. 11574/2000-Income Tax It is notified for general information that enterprises/industrial undertakings, listed at para (3) below have 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 2001-2002, 2002-2003 and 2003-2004.

Notification No. 11575/2000-Income Tax Dated 22/12/2000

December 12, 2000 367 Views 0 comment Print

Notification No. 11575/2000-Income Tax It is notified for general information that enterprise/industnal undertaking, 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 2000-2001, 2001-2002 and 2002-2003.

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