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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 651 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 558 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 6066 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 5649 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 7833 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 7791 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 9960 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 42 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 54 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 69 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 4950 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.2551-Income Tax Dated 29/5/1986

May 29, 1986 462 Views 0 comment Print

Notification No. S.O.2551-Income Tax In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the society known as Naval Group Insurance Fund, New Delhi, for the purposes of the said sub-clause.

Notification No. S.O.2400-Income Tax, Dated: 29.05.1986

May 29, 1986 250 Views 0 comment Print

That the said Institute will submit to the prescribed authority by 30th June, each year, a 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.3164-Income Tax, Dated: 28.05.1986

May 28, 1986 289 Views 0 comment Print

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 ” The Late Ervad D.B. Mehta’s Zoroastrian Anjuman ‘Atash Adaran’ ” to be a place of public worship of renown throughout the State of West Bengal.

Notification No. S.O.3163-Income Tax, Dated: 27.05.1986

May 27, 1986 289 Views 0 comment Print

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 “Shri Chakrapaniswami Temple, Kumbakonam”, as a place of historical importance of renown throughout the State of Tamil Nadu.

Circular No. 456-Income Tax dated 22-05-1986

May 22, 1986 414 Views 0 comment Print

Circular No. 456-Income Tax I am directed to invite a reference to para 3 of this Ministry’s letter of even number, dated 25-4-1963. It has been stated therein that for the present till the month of August 1963, the pay for which is due on September 1, 1963, the deduction of additional surcharge from salaries should be allowed to the extent of a sum equal

Notification No. S.O.2251-Income Tax, Dated: 20.05.1986

May 20, 1986 304 Views 0 comment Print

In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Federation of Parsi Zoroastrian Anjumans of India” for the purpose of the said section for the period covered by the assessment years 1987-88 to 1988-89.

Notification No. S.O.2252-Income Tax, Dated: 20.05.1986

May 20, 1986 394 Views 0 comment Print

In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Ahobila Mutt, Tamil Nadu for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

Notification No. S.O.2326-Income Tax, Dated: 20.05.1986

May 20, 1986 274 Views 0 comment Print

In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Arulmigu Meenakshi Sundareswarar Thirukoil, Madurai” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

Notification No. S.O.2399-Income Tax, Dated: 20.05.1986

May 20, 1986 325 Views 0 comment Print

In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “The Late Ervad D. B. Mehta’s Zoroastrian Anjuman Adash Adaran” for the purpose of the said section for the period covered by the assessment years 1986-87 to 1987-88.

Notification No. S.O.3160-Income Tax, Dated: 20.05.1986

May 20, 1986 313 Views 0 comment Print

In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Shree Kashi Mutt Sansthan, Bombay”, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

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