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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


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 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 7950 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 66 Views 0 comment Print

Section 43B(h) Income-tax Act – Boom or doom for Industry and Trade

Income Tax : Section 43B(h) mandates tax deductions only on actual payments to MSMEs, effective April 2024. Explore its potential impact on ind...

August 20, 2024 651 Views 1 comment Print

Scope of Income Tax Search Assessment – A Tabular Form

Income Tax : Discover the updated Income Tax assessment procedures for searches starting from September 2024, including tax rates, penalties, a...

August 19, 2024 1551 Views 0 comment Print


Latest News


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 1518 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 321 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 600 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 258 Views 0 comment Print

FAQs on PFA & Defective for ITR 1 to 6 for AY 24-25

Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...

August 10, 2024 3108 Views 0 comment Print


Latest Judiciary


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 18 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 18 Views 0 comment Print

Vodafone Idea Not Required to Deduct TDS on Foreign Telecom Charges: SC

Income Tax : Supreme Court dismisses IT Dept's petition, ruling Vodafone Idea isn't liable to deduct TDS on payments to non-resident telecom op...

August 20, 2024 21 Views 0 comment Print

Deputy Commissioner of Income Tax held guilty u/s. 12 of Contempt of Courts Act, 1971

Income Tax : Allahabad High Court held Deputy Commissioner of Income Tax guilty under section 12 of the Contempt of Courts Act, 1971 and impose...

August 20, 2024 1083 Views 0 comment Print

Assessee entitled to deemed Section 12AB registration if application not disposed off in 6 months

Income Tax : Bombay HC examines the rejection of Purandhar Technical Education Society's 12AB registration by CIT, highlighting procedural erro...

August 20, 2024 15 Views 0 comment Print


Latest Notifications


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 1113 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 3381 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 12444 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 303 Views 0 comment Print

Income Tax Exemption for West Bengal Transport Workers Social Security Scheme

Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...

August 12, 2024 87 Views 0 comment Print


Notification: S.O.3493 Date of Issue: 2/8/1978

August 2, 1978 349 Views 0 comment Print

Notification No. S.O.3493 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 1961. Institution Potash Research Institute of India, New Delhi. This notification is effective for a period of two years from 1-4-1978 to 31-3-1980.

Notification: S.O.3410 Date of Issue: 2/8/1978

August 2, 1978 328 Views 0 comment Print

Notification: S.O.3412 Name of the scientific research Manufacture of Phenol/MEK from programme: n-butenes.Name of the sponsor National Organic Chemical Industries Ltd., Bombay.To be undertaken by Bombay University, Department of Che- mical Technology.

Notification: S.O.3409 Date of Issue: 2/8/1978

August 2, 1978 324 Views 0 comment Print

Notification: S.O.3409 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: S.O.3150 Date of Issue: 2/8/1978

August 2, 1978 342 Views 0 comment Print

Notification No. S.O.3150 The funds collected by the Gujarat Institute of Area Planning, Ahmedabad, under this exemption will be utilised excusively for promotion of research in Social Sciences. That the Gujarat Institute of Area Planning, Ahmedabad, shall maintain separate accounts of the funds collected by them under the exemption.

Notification: S.O.3149 Date of Issue: 2/8/1978

August 2, 1978 259 Views 0 comment Print

Notification No. S.O.3149 That the institute will maintain a separate account of the sums received by it for scientific research in the field of medical research. (ii) That the institution will furnish annual returns of its scientific research activities to the Council for each financial year by 31st May each year at the latest in such form as may be laid down and intimated to them for this purposes.

Notification: S.O.3686 Date of Issue: 31/7/1978

July 31, 1978 289 Views 0 comment Print

Notification: S.O.3686 In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Arulmigu Ranganathaswamy Temple, Madras, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.

Notification: S.O.3147 Date of Issue: 29/7/1978

July 29, 1978 202 Views 0 comment Print

Notification No. S.O.3147 (i) That the Endocrine Society of India, Chandigarh, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines). (ii) That the said Society will furnish the annual return 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 30th April, each year.

Notification: S.O.3146 Date of Issue: 29/7/1978

July 29, 1978 429 Views 0 comment Print

Notification: S.O.3146 (i) That the Research Institute of Graphic Arts, New Delhi, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines). (ii) That the said institute will furnish the annual return 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 30th April, each year.

Notification: S.O.2918 Date of Issue: 29/7/1978

July 29, 1978 277 Views 0 comment Print

Notification No. S.O.2918 Institution Premhari Research & Development Foundation, Bombay. This notification is effective for a period of 3 months from 1-4-1978 to 30-6-1978.

Notification: S.O.2917 Date of Issue: 29/7/1978

July 29, 1978 178 Views 0 comment Print

Notification No. S.O.2917 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, New Delhi, the pres

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