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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


Computation of Total income & Tax Liability as per Income Tax Act 1961

Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...

February 9, 2025 192 Views 0 comment Print

Income Tax Return Filing Guide for Proprietors in the USA

Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...

February 9, 2025 141 Views 0 comment Print

Cost Inflation Index Update FY 2024-25: Key Changes Explained

Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...

February 9, 2025 117 Views 0 comment Print

Taxation of International Transactions In India Under Income Tax Act 1961

Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...

February 9, 2025 507 Views 0 comment Print

Union Budget 2025 – Key Direct Tax Highlights

Income Tax : Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, a...

February 9, 2025 792 Views 0 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 8727 Views 2 comments 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 9003 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 11034 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 57 Views 0 comment Print


Latest Judiciary


CBDT Must Grant Opportunity Before Rejecting Section 119(2)(b) Applications

Income Tax : Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of ...

February 9, 2025 45 Views 0 comment Print

Video Conferencing Not Granted as Further Clarification Was Unnecessary: No Violation of Natural Justice

Income Tax : Bombay HC ruled on Anandkumar Dhanraj Rathod's tax case, addressing natural justice claims and directing him to appeal the assessm...

February 9, 2025 192 Views 0 comment Print

Section 263 Invocation justified as AO passed order without Necessary inquiries

Income Tax : ITAT Chennai dismisses FLsmidth's appeal, upholding PCIT's order for reassessment due to lack of verification by AO....

February 9, 2025 48 Views 0 comment Print

ITAT Mumbai: Sections 147/148 Apply even if AO not invokes Section 153C; ₹4.89 Cr Addition Upheld Under Section 68

Income Tax :  ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. Vijay Maneklal Bhansali’s appeal dismissed, citing lack of eviden...

February 9, 2025 273 Views 0 comment Print

ITAT Chennai Remands ₹42.72 Lakh demonetization Cash Deposit addition Case to AO

Income Tax : ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made d...

February 9, 2025 57 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 174 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 2523 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 4980 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 399 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 414 Views 0 comment Print


Notification No. S.O.1456-Income Tax Dated 20/2/1986

February 20, 1986 357 Views 0 comment Print

Notification No. S.O.1456-Income Tax It is hereby notified for general information that the approval granted under section 35(1)(ii) of the Income-tax Act, 1961, to the Nowresjee Wadia Maternity Hospital, Bombay, vide Ministry of Finance (Department of Revenue and Insurance), notification No. 351 (F. No. 203/18/73-ITA. II), dated 16th May, 1983, is hereby restricted up to 31-3-1986.

Notification No. S.O.1455-Icome Tax Dated 20/2/1986

February 20, 1986 375 Views 0 comment Print

Notification No. S.O.1455-Icome Tax It is hereby notified for general information that the perpetual approval granted under section 35(1)(ii) of the Income-tax Act, 1961, to the Vijnana Parishad, Allahabad, vide Ministry of Finance (Department of Revenue and Insurance), notification No. 238 (F. No. 203/25/72-ITA. II), dated 11-12-1972, is hereby restricted up to 31-3-1987.

Notification No. S.O.1454-Income Tax Dated 20/2/1986

February 20, 1986 301 Views 0 comment Print

Notification No. S.O.1454-Income Tax It is hereby notified for general information that the approval granted to the Salgaocar Medical Research Centre, Chikalim, Goa, under section 35(1)(ii) of the Income-tax Act, 1961, vide Ministry of Finance (Department of Revenue and Insurance), notification No. 1138 (F. No. 203/136/75-ITA. II), dated 27th October, 1975, is hereby restricted up to 31-3-1986.

Circular No. 451- Income Tax dated 17-2-1986

February 17, 1986 513 Views 0 comment Print

Circular : No. 451-Income Tax Further clarifications on Circular Nos. 423, 432, 439 to 441 regarding declaration of higher income or wealth – Following clarifications are hereby issued on the questions raised at different places on the press note of the CBDT and the Circular No. 423, dated 26-6-1985 and Circular Nos. 432, 439, 440 and 441, dated 15-11-1985 [Clarifications 1 to 5] issued by CBDT regarding declaration of higher income or wealth.

Notification No. F.71-Ad(AT)/86-Income Tax Dated 17/2/1986

February 17, 1986 345 Views 0 comment Print

Notification No. F.71-Ad(AT)/86-Income Tax In exercise of the powers conferred by sub-section (5) of section 255 of the Income-tax Act, 1961 (43 of 1961), the Income-tax Appellate Tribunal hereby makes the following rules further to amend the Income-tax (Appellate Tribunal) Rules, 1963 :– This notification contains amendments to Income-tax Rules carried out on 17th February, 1986 not reproduced here as it is already contained in the body of the rules itself

Notification No. S.O.1453-Income Tax Dated 14/2/1986

February 14, 1986 298 Views 0 comment Print

Notification No. S.O.1453-Income Tax In continuation of this Office Notification No. 5432 (F. No. 203/183/82-ITA. II) dated 22-10-1983, it is hereby notified for general information that the Institution mentioned below has been approved by the Department of Science & Technology, New Delhi, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 (Thirty-five/one/three) of the Income-tax Act,

Circular No. 450-Income Tax dated 13-02-1986

February 13, 1986 276 Views 0 comment Print

Circular No. 450-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 to the maximum amount

Notification No. S.O.2230-Income Tax Dated 12/2/1986

February 12, 1986 352 Views 0 comment Print

Notification No. S.O.2230-Income Tax 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 “Medical Research Foundation, Madras” for the purpose of the said section for the period covered by the assessment years 1984-85 to 1986-87.

Notification No. S.O.1125-Income Tax Dated 12/2/1986

February 12, 1986 364 Views 0 comment Print

Notification No. S.O.1125-Income Tax 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 ” Shri Durganna Committee, Amritsar ” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

Notification No. S.O.952-Income Tax Dated 11/2/1986

February 11, 1986 262 Views 0 comment Print

Notification No. S.O.952-Income Tax In continuation of this Office Notification No. 4692 (F. No. 203/81/ITA. II) dated June 16, 1982, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and Technology, New Delhi, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 (Thirty-five/one/three) of the Income-tax Act,

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