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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


Mistakes to Avoid While Paying TDS on Rent for FY 2024-25

Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...

March 21, 2025 531 Views 0 comment Print

Bombay HC Cracks Down on Tax Evasion Scheme in Buniyad Chemicals Case

Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...

March 20, 2025 3678 Views 0 comment Print

New Income Tax Bill, 2025 – How one should Read & Interpret a Law

Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...

March 20, 2025 732 Views 0 comment Print

Analysis of Impact & Effectiveness of Bilateral Investment Treaties

Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...

March 20, 2025 225 Views 0 comment Print

Deductions Under Section 57 of Income Tax Act, 1961

Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...

March 19, 2025 1200 Views 0 comment Print


Latest News


CBDT Seeks Input on Draft Income Tax Rules & Forms

Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...

March 19, 2025 327 Views 0 comment Print

Direct Tax & Advance Tax Collections for F.Y. 2024-25 as on 16.03.2025

Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...

March 17, 2025 645 Views 0 comment Print

CBDT Clarifies Guidance on Principal Purpose Test (PPT)

Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...

March 17, 2025 927 Views 0 comment Print

Corporate Tax Collection Trends & Foreign Investment Policies

Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...

March 16, 2025 117 Views 0 comment Print

Impact of New Income Tax Bill 2025 on Compliance & Revenue

Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...

March 16, 2025 393 Views 0 comment Print


Latest Judiciary


Section 263 – CIT’s Power to Revise Erroneous & Prejudicial Assessment Orders: ITAT Ruling

Income Tax : ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...

March 21, 2025 183 Views 0 comment Print

WhatsApp Messages Not Conclusive Evidence for Addition: ITAT Chennai

Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...

March 21, 2025 300 Views 0 comment Print

ITAT Dismisses Revenue’s Appeal as Tax effect was Below Rs. 60 Lakh

Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...

March 20, 2025 4095 Views 0 comment Print

ITAT upholds Section 263 revision order, treating VRS benefits as taxable

Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...

March 20, 2025 318 Views 0 comment Print

Non-Resident Can’t Be Expected to Monitor Tax Portal After 8 Years, HC Sets Aside Assessment Order for Improper Notice

Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...

March 20, 2025 351 Views 0 comment Print


Latest Notifications


High-Risk e-Verification Cases: Instructions for AOs

Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...

March 20, 2025 456 Views 0 comment Print

CBDT allows data sharing with Delhi’s IT Dept. for social welfare scheme identification

Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...

March 19, 2025 93 Views 0 comment Print

CBDT FAQs on Revised Guidelines for Compounding Offences

Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...

March 18, 2025 4863 Views 0 comment Print

CBDT notifies Power Finance Corp Zero Coupon Bond under section 2(48)

Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...

March 11, 2025 1134 Views 0 comment Print

High-Risk and Non PAN Transaction Cases: Insight Portal Guidelines

Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...

March 7, 2025 738 Views 0 comment Print


Notification No. S.O.1772-Income Tax, Dated: 30.03.1988

March 30, 1988 286 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 Volkart Foundation, Bombay for the purpose of the said sub-clause for the assessment years1987-88 to 1988-89.

Notification No. S.O.1455-Income Tax, Dated: 29.03.1988

March 29, 1988 262 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 Ramakrishna Vedanta Math, Calcutta for the purpose of the said sub-clause for the assessment year 1988-89. [No. 7813/F. No. 197/218/87-IT (A1)

Notification : S.O.1456-Income Tax, Dated: 29.03.1988

March 29, 1988 430 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 M. K. N. Mathurasa Trust, Adirampattinam (Tamil Nadu) for the purpose of the said sub-clause for the assessment year 1985-86 to 1988-89. [No. 7811/F.No. 197/116/85-IT (A1)

Notification No. S.O.1771-Income Tax, Dated: 29.03.1988

March 29, 1988 232 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 The bhagavatula Charitable Trust, Visakhapatnam (A. P.) for the purpose of the said sub-clause for the assessment years1984-85 to 1988-89.

Notification No. S.O.2118-Income Tax, Dated: 29.03.1988

March 29, 1988 268 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, 3 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.280(E)-Income Tax Dated 24/3/1988

March 28, 1988 282 Views 0 comment Print

S.O.280(E) grants tax benefits for 7-year 13% bonds by Hindustan Photo Films under Section 80L, subject to transfer notification within 60 days.

Notification No. S.O.307(E)-Income Tax Dated 28/3/1988

March 28, 1988 411 Views 0 comment Print

Notification No. S.O.307(E)-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ” 10-year 9% (Tax-free) Secured Redeemable Non-Convertible Bonds (Series-I)”, issued by the Nuclear Power Corporation of India Limited, for the purpose of the said item

Notification No. S.O.309(E)-Income Tax Dated 28/3/1988

March 28, 1988 438 Views 0 comment Print

Notification No. S.O.309(E)-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ” 7 Year 13% (Taxable) Secured Redeemable Non-Convertible Bonds (Series-I) “, issued by the Nuclear Power Corporation of India Limited, for the purpose of the said clause

Notification No. S.O.310(E)-Income Tax Dated 28/3/1988

March 28, 1988 264 Views 0 comment Print

Notification No. S.O.310(E)-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ” 10-year 9% (Tax-free) Secured Redeemable Non-Convertible Bonds (2nd issue)”, issued by the Mahanagar Telephone Nigam Limited, New Delhi, for the purpose of the said item

Notification No. S.O.1607-Income Tax Dated 28/3/1988

March 28, 1988 327 Views 0 comment Print

Notification No. S.O.1607-Income Tax In exercise of the powers conferred by sub-clause (iii) of clause (17) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Constituency, Secretarial and Postal Facility Allowance received by the Members of the Punjab Vidhan Sabha to the extent of rupees six hundred per month for the purposes of the said sub-clause.

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