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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


Recent clarification on income tax clearance certificate for all travelling abroad

Income Tax : Recently, the Finance Minister of India, Smt. Nirmala Sitharaman, presented the Finance Budget 2024-2025 on 23rd July 2024. Vide t...

August 20, 2024 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 483 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 1470 Views 0 comment Print

कैश लेन-देन पर होगी आयकर विभाग की नजर – बैंकिंग चैनल से ही बड़े खर्च करें

Income Tax : आयकर विभाग ने कैश लेन-देन पर कड़ी नजर रखने का निर्�...

August 19, 2024 2067 Views 0 comment Print

India-Mauritius: Implications of Principal Purpose Test

Income Tax : India and Mauritius have amended the DTAA, adding a principal purpose test (PPT) rule to close tax loopholes and align with global...

August 19, 2024 243 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 1509 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 591 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 3105 Views 0 comment Print


Latest Judiciary


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 654 Views 0 comment Print

Calcutta HC Remands Case for Fresh Assessment; Warns Against Non-Cooperation

Income Tax : Calcutta HC remands Somnath Commosales Pvt Ltd case to AO for fresh assessment. The final opportunity is granted; non-cooperation ...

August 19, 2024 318 Views 0 comment Print

MAT Credit Dispute: Section 263 notice not maintainable if exercise done by AO was not erroneous 

Income Tax : Calcutta HC dismisses appeal by revenue, upholds ITAT decision quashing PCIT order under Section 263 on MAT credit and doubtful de...

August 19, 2024 84 Views 0 comment Print

No income Tax addition based on document’s which did not explicitly mention assessee’s name

Income Tax : Calcutta High Court affirms ITAT's decision to delete income tax addition under Section 69 due to lack of direct evidence against ...

August 19, 2024 345 Views 0 comment Print

No Income Tax Additions based On Generalised Investigation Wing Report: ITAT Mumbai

Income Tax : ITAT Mumbai dismisses income tax additions for AY 2014-15, stating reliance on a generalized report without independent inquiry is...

August 19, 2024 405 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 1080 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 3372 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 12426 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 300 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 84 Views 0 comment Print


Notification: S.O.1581 Date of Issue: 25/2/1978

February 25, 1978 228 Views 0 comment Print

Notification: S.O.1581 (i) That the institution 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 15th May each year at the latest in such form as may be laid down and intimated to them for this purpose.

Notification: S.O.1500 Date of Issue: 25/2/1978

February 25, 1978 328 Views 0 comment Print

Notification: S.O.1500 (1) That the institution will maintain a separate account of the sums received by it for scientific research in the field of medical research. (2) That the institution will furnish annual returns of its scientific research activities to the Council for each financial year by 15th May, each year at the latest, in such form as may be laid down and intimated to them for this purpose.

Notification: S.O.706 Date of Issue: 23/2/1978

February 23, 1978 343 Views 0 comment Print

Notification: S.O.706 Central Government hereby notifies Special Fund for Reconstruction and Rehabilitation of Ex-servicemen, Assam, for the purpose of the said section for and from the assessment year(s) 1976-77. [No. 2185/F. No. 197/140/77-IT(AI)

Notification: S.O.705 Date of Issue: 23/2/1978

February 23, 1978 244 Views 0 comment Print

Notification: S.O.705 Central Government hereby notifies National Foundation for Teachers’ Welfare for the purposes of the said section for the assessment years 1974-75 and 1975-76 also.

Notification: S.O.704 Date of Issue: 23/2/1978

February 23, 1978 241 Views 0 comment Print

Notification: S.O.704 Central Government hereby notifies Gujarat Ayurved Vikas Mandal, Ahmedabad, for the purpose of the said section for and from the assessment year(s) 1967-68.

Notification: S.O.703 Date of Issue: 23/2/1978

February 23, 1978 166 Views 0 comment Print

Notification: S.O.703 Central Government hereby notifies Loreto House Educational Society of Calcutta for the purpose of the said section for the assessment years 1974-75 and 1975-76 also.

Notification: S.O.1342 Date of Issue: 23/2/1978

February 23, 1978 381 Views 0 comment Print

Notification: S.O.1342 Central Government hereby notifies Bangur Charitable Trust, Didwana, for the purpose of the said section for and from the assessment year 1977-78.

Notification: 2132 Date of Issue: 21/2/1978

February 21, 1978 334 Views 0 comment Print

Notification: 2132 It is hereby notified for general information that the institution mentioned below has been approved by the Central Board of Direct Taxes for the purposes of clause (a) of sub-section (2) of section 35D of the Income-tax Act, 1961, in the fields of Technological consultancy and Engineering consultancy.

Notification: S.O.1499 Date of Issue: 21/2/1978

February 21, 1978 208 Views 0 comment Print

Notification: S.O.1499 Institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(ii) of the Income

Notification: S.O.1498 Date of Issue: 21/2/1978

February 21, 1978 264 Views 0 comment Print

Notification: S.O.1498 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(ii) of the Incom

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