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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


Rupees 43 trillion Income Tax Demands to Make India Richer and Indians Poor

Income Tax : Faceless assessments in FY 23-24 raised Rs 43 trillion in tax arrears, sparking concern over the impact on India's tax ecosystem a...

August 22, 2024 1488 Views 0 comment Print

Taxing buy-back consideration as dividend closes the doors of buy-back?

Income Tax : The Finance Act, (2), 2024 has made certain changes relating to levy of income tax on consideration received on buy-back of shares...

August 21, 2024 114 Views 0 comment Print

Is addition made on the basis of Form 26AS, Justified? Discussion between CA Mickey and CA Mini

Income Tax : Summary: Income additions by tax authorities due to discrepancies between a taxpayer’s declared income and the details in Fo...

August 21, 2024 3516 Views 0 comment Print

FAQs on Income Tax e-Verification Scheme 2021

Income Tax : FAQs on e-Verification Scheme, 2021 provide general guidance in understanding procedures & processes of the e-Verification Scheme,...

August 20, 2024 8763 Views 0 comment Print

Recent clarification on income tax clearance certificate for all travelling abroad

Income Tax : Understand the amended Section 230 of the Income Tax Act, 2024, clarifying when a tax clearance certificate is required for Indian...

August 20, 2024 4848 Views 0 comment Print


Latest News


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 90 Views 0 comment Print

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

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 1602 Views 0 comment Print

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 19, 2024 342 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 19, 2024 666 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 276 Views 0 comment Print


Latest Judiciary


2016 Amendment to Section 50C of Income Tax Act Applies Retrospectively: Madras HC

Income Tax : The Madras High Court ruled that the 2016 amendment to Section 50C of the Income Tax Act applies retrospectively, impacting capita...

August 22, 2024 9 Views 0 comment Print

Bombay HC imposes a penalty on JAO & CCIT for disregarding a prior judgment

Income Tax : Bombay High Court imposed a cost on JAO and CCIT of Mumbai for not following judgement Hexaware case and Order them to deposit 250...

August 21, 2024 66 Views 0 comment Print

CIT(A) Can’t Dismiss Appeals for Non-Prosecution without examining merits

Income Tax : Bombay High Court rules that CIT(A) cannot dismiss appeals for non-prosecution. Tribunal's decision to restore appeal upheld....

August 21, 2024 657 Views 0 comment Print

Bogus Purchases: Bombay HC upholds addition of 12.5% of purchases

Income Tax : Bombay High Court upholds ITAT ruling in PCIT Vs SVD Resins, focusing on the legitimacy of purchase transactions and tax implicati...

August 20, 2024 681 Views 0 comment Print

Bombay HC Quashes Prosecution of Hubtown Ltd. Directors for TDS payment delay

Income Tax : The Bombay High Court dismisses criminal charges against Hubtown Ltd's directors for TDS payment delays, citing absence of require...

August 20, 2024 516 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 22, 2024 768 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 1623 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 3615 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 12954 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 309 Views 0 comment Print


Notification No. S.O.709-Income Tax, Dated: 21.01.1980

January 21, 1980 241 Views 0 comment Print

That the society will furnish annual returns of its scientific research activities to the Council for each year by 31st May, each year at the latest in such form as may be laid down and intimated to them for this purpose.

Notification No. S.O.710-Income Tax, Dated: 21.01.1980

January 21, 1980 211 Views 0 comment Print

It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Agricultural Research, 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.40(E)-Income Tax, Dated: 19.01.1980

January 19, 1980 163 Views 0 comment Print

This notification contains Amendment to Income-tax Rules, carried out on 19th January, 1980, not reproduced here as it is already contained in the body of the Rules itself.

Notification No. S.O.40(E)-Income Tax, Dated: 19.01.1980

January 19, 1980 469 Views 0 comment Print

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely.

Notification No. S.O.708-Income Tax, Dated: 18.01.1980

January 18, 1980 277 Views 0 comment Print

That the institute shall send annual statement of accounts and annual report to the Indian Council of Social Science Research as well as to the concerned Commissioner of Income-tax, showing the funds collected by them under the exemption and the manner in which the funds were utilized.

Notification No. S.O.722-Income Tax, Dated: 18.01.1980

January 18, 1980 223 Views 0 comment Print

In exercise of the powers conferred by sub-section (23C) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Prasanna Venkatesa Perumal Sannidhi, Velukkudi, Mannargudi Taluk, Tanjore District, Tamil Nadu, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.

Notification No. S.O.707-Income Tax, Dated: 17.01.1980

January 17, 1980 304 Views 0 comment Print

That the foundation will furnish a copy of the annual audited statement of accounts to the Council for each year by 31st May, each year and in addition send a copy of it to the concerned Income-tax Commissioner.

Notification No. S.O.765-Income Tax, Dated: 17.01.1980

January 17, 1980 208 Views 0 comment Print

That the Research Centre will furnish a copy of the annual audited statement of accounts to the Council for each year by 31st May, each year and in addition send a copy of it to the concerned Income-tax Commissioner.

Notification No. S.O.402-Income Tax, Dated: 16.01.1980

January 16, 1980 190 Views 0 comment Print

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 Agricultural Research, New Delhi.

Notification No. S.O.706-Income Tax, Dated: 16.01.1980

January 16, 1980 250 Views 0 comment Print

That the centre will furnish a copy of the annual audited statement of accounts to the Council for each year by 31st May, each year and in addition send a copy of it to the concerned Income-tax Commissioner.

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