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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


Foreign Tax Credit cannot be disallowed for delay in filing Form 67: ITAT Pune

Income Tax : Kedar Jagdish Mankar Vs ACIT (ITAT Pune) Adv. Sachin P. Kumar successfully represented his client in Foreign Tax Credit dispute be...

February 8, 2025 39 Views 0 comment Print

9 Key Tax Compliance Issues Missed in Union Budget 2025

Income Tax : Union Budget 2025 overlooked critical tax compliance issues, including TDS on partners’ salary, delays in appeals, marginal reli...

February 8, 2025 726 Views 0 comment Print

How Finance Bill 2025 rationalize Tax Loss Time Machine under M&A

Income Tax : The Finance Bill 2025 rationalizes tax loss carry forward rules under M&A by limiting it to 8 years from the original computation ...

February 8, 2025 576 Views 0 comment Print

How to Achieve Tax-Free Rental Income of ₹20,00,000

Income Tax : Learn how to achieve tax-free rental income of ₹20,00,000 by leveraging deductions under Section 24 of the Income Tax Act, 1961,...

February 8, 2025 6228 Views 1 comment Print

“Request for Order Giving Effect” on Income Tax e-Filing Portal introduced

Income Tax : Request tax order implementation with Income Tax e-Filing portal’s new feature. Raise Request for Order Giving Effect online to ...

February 8, 2025 5739 Views 1 comment Print


Latest News


Reminder for Filing TDS Statement 26Q for Q2 FY 2024-25

Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...

February 8, 2025 7911 Views 1 comment Print

Union Cabinet Approves New Income Tax Bill 2025 to Replace 1961 Act

Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...

February 8, 2025 7899 Views 1 comment Print

CBI Files Case Against 3 Tax Officials, 5 CAs for Sabotaging Faceless Tax Scheme

Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...

February 7, 2025 10410 Views 0 comment Print

India’s Tax Arrears Reach ₹42.64 Lakh Crore

Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...

February 6, 2025 30 Views 0 comment Print

Decriminalization of Minor Direct Tax Offenses in India

Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...

February 6, 2025 54 Views 0 comment Print


Latest Judiciary


ITAT Mumbai quashes reassessment for invalid Section 151(ii) approval

Income Tax : ITAT Mumbai invalidates reassessment in Ramlal G Suthar vs. ITO due to improper approval under Section 151(ii) of the Income-tax A...

February 8, 2025 51 Views 0 comment Print

IT Notices to Non-Existent Company Void Ab Initio, Not Rectifiable Under Section 292B: Bombay HC

Income Tax : Bombay High Court quashes reassessment notices issued to a non-existent entity post-merger in City Corporation Ltd vs ACIT, citing...

February 8, 2025 66 Views 0 comment Print

Bombay HC Seeks Accountability for Lost Jewelry Seized by Tax Department in 2005

Income Tax : Bombay High Court addresses Hiralal Malu’s plea for the return of seized jewelry, highlighting disputes between the tax departme...

February 8, 2025 45 Views 0 comment Print

Carried forward losses cannot be set-off against exempt capital gains under DTAA

Income Tax : ITAT Mumbai ruled on TVF Fund Ltd’s appeal regarding tax loss set-off under DTAA. Key issues include carry-forward losses, taxab...

February 8, 2025 54 Views 0 comment Print

No Section 278AA Prosecution for TDS Delays due to Reasonable Cause: Orissa HC

Income Tax : Orissa HC examines TDS prosecution in D.N. Homes case, focusing on COVID-19 delays and reasonable cause under Section 278AA of the...

February 8, 2025 72 Views 0 comment Print


Latest Notifications


Income-Tax Rule 2F Amended for Infrastructure Debt Funds

Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...

February 7, 2025 150 Views 0 comment Print

CBDT Shares Taxpayer Data for PMGKAY Eligibility

Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...

February 4, 2025 2502 Views 0 comment Print

Finance Bill, 2025 – Budget 2025 (Read Full)

Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...

February 1, 2025 4953 Views 0 comment Print

CBDT Allows Income Tax Data Sharing for PMGKAY Beneficiaries

Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...

January 30, 2025 396 Views 0 comment Print

Income Tax Dept. IT Systems Declared Protected Under Information Technology Act

Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...

January 28, 2025 405 Views 0 comment Print


Notification No. S.O.2852-Income Tax, Dated: 10.06.1986

June 10, 1986 289 Views 0 comment Print

That the said Society will submit to the prescribed authority by 30th June, each year, copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax.

Notification No. S.O.352(E)-Income Tax Dated 10/6/1986

June 10, 1986 324 Views 0 comment Print

Notification No. S.O.352(E)-Income Tax In supersession of all earlier notifications on the subject and by virtue of the powers conferred by sub-section (1) of section 269B of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorise every Assistant Commissioner of Income-tax specified in column (2) of the Table appended to this order to perform the functions of a Competent Authority under Chapter XX-A

Notification No. S.O.2216-Income Tax, Dated: 08.06.1987

June 8, 1986 214 Views 0 comment Print

That the said Institution will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.

Notification No. S.O.2851(E)-Income Tax Dated 6/6/1986

June 6, 1986 294 Views 0 comment Print

Notification No. S.O.2851(E)-Income Tax It is hereby notified for general information that the institution/association mentioned below and its programme given hereunder has been approved by the Secretary, Deptt. of Environment, Govt. of India, New Delhi, being the prescribed authority under rule 6AAC of the Income-tax Rules, 1962, for the purpose of section 35CCB of the Income-tax Act, 1961

Notification No. S.O.3576-Income Tax, Dated: 05.06.1986

June 5, 1986 250 Views 0 comment Print

In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Wildlife Association of South India, Bangalore” for the purpose of the said section for the period covered by the assessment years 1986-87 to 1988-89.

Notification No. S.O.2849-Income Tax, Dated: 03.06.1976

June 3, 1986 199 Views 0 comment Print

That the said Institute will furnish annual returns 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 No. S.O.2850-Income Tax, Dated: 03.06.1986

June 3, 1986 361 Views 0 comment Print

In continuation of this Office Notification No. 5584 (F. No. 203/241/83-ITA-II), dated 13-1-1984, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Scientific and Industrial Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 (Thirty-five/one/two) of the Income-tax Act, 1961.

Notification no. S.O.2847-Income Tax, Dated: 30.05.1986

May 30, 1986 232 Views 0 comment Print

That the said Institute, will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.

Notification No. S.O.2848-Income Tax, Dated: 30.05.1986

May 30, 1986 265 Views 0 comment Print

That the said Association will submit to the prescribed authority by 30th June, each year, copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax.

Notification No. S.O.2846-Income Tax, Dated: 29.05.1986

May 29, 1986 337 Views 0 comment Print

That the said Association will submit to the prescribed authority by 30th June, each year, copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax.

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