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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


2 Residential Houses: Income Tax issue simplified in budget 2025-26?

Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...

February 10, 2025 606 Views 0 comment Print

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 2901 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 750 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 1965 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 1059 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 10041 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 11739 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 11571 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


Bombay HC directs income tax department to modify utility to allow assessee to make claim of rebate u/s. 87A

Income Tax : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...

February 10, 2025 90 Views 0 comment Print

CSR expenditure incurred to bring goodwill is allowable

Income Tax : ITAT Delhi held that the expenditure incurred on CSR activities may not have direct nexus with the activities of the assessee but ...

February 10, 2025 150 Views 0 comment Print

Sale of Dangerous Goods Regulations manuals doesn’t tantamount to royalty

Income Tax : ITAT Mumbai held that sale of Dangerous Goods Regulations manuals could not be characterised as ‘royalty’ within the meaning o...

February 10, 2025 54 Views 0 comment Print

Orissa HC Quashes TDS Prosecution Citing Payment Acceptance, Financial Distress & COVID-19

Income Tax : Orissa HC quashes criminal proceedings against Metaliks Ltd for delayed TDS deposit, citing financial distress and COVID-19 impact...

February 10, 2025 111 Views 0 comment Print

Section 270AA Immunity cannot be denied for Late Submission of Form 68 Hard Copy

Income Tax : ITAT Hyderabad rules in favor of Karimnagar DCCB, granting immunity from penalty under Section 270AA. The appeal challenges tax pe...

February 10, 2025 84 Views 0 comment Print


Latest Notifications


Income Tax Act: Section 285 Notification for Liaison Office Statement Filing

Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...

February 10, 2025 135 Views 0 comment Print

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 225 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 2571 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 5196 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


Notification No. S.O.321-Income Tax Dated 1/1/1986

January 1, 1986 246 Views 0 comment Print

Notification No. S.O.321-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 “Sree Saptashrung Niwasini Devi Trust, Nasik”, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

Circular No. 446-Income Tax dated 31-12-1985

December 31, 1985 372 Views 0 comment Print

Circular No. 446-Income Tax In exercise of the powers conferred by clause (b) of sub-section (2) of section 119 of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby order that, in all cases an otherwise valid refund claim under section 237 of the Income-tax Act, 1961 is filed by an assessee after the expiry of the statutory time limit as prescribed under section 239 of the Act, the Income-tax Officer, having

Circular No. 445-Income Tax dated 31-12-1985

December 31, 1985 471 Views 0 comment Print

Circular No. 445-Income Tax Under section 17 of the Income-tax Act, 1961, provision of free medical facilities or reimbursement of medical expenses by an employer is treated as a perquisite in the hands of the employee. According to the existing instructions which are effective from the assessment year 1984-85, reimbursement of medical expenses to an employee/provision of medical facilities by an employer

Notification No. S.O.937(E)-Income Tax, Dated: 31.12.1985

December 31, 1985 253 Views 0 comment Print

This notification contains Amendment to Income-tax (Ninth Amendment) Rules, 1985 carried out on 31st December, 1985 not reproduced here as it is already contained in the body of the rules itself.

Notification No. S.O.478-Income Tax, Dated: 27.12.1985

December 27, 1985 286 Views 0 comment Print

That the said Association 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.470-Income Tax, Dated: 26.12.1985

December 26, 1985 205 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 “Nilgiri Diocesan Society, Ootacamund”, for the purpose of the said section for the period covered by the assessment years 1980-81 to 1985-86.

Notification No. S.O.469-Income Tax, Dated: 26.12.1985

December 26, 1985 280 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 “Gita Bhawan Trust Society (Regd.) Moga”, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

Notification No. S.O.468-Income Tax, Dated: 19.12.1985

December 19, 1985 259 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 “Jawan’s Welfare Trust Maharashtra”, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

Notification No. S.O.555-Income Tax, Dated: 19.12.1985

December 19, 1985 277 Views 0 comment Print

It is notified for general information that the approval granted under section 35(1)(ii) of the Income-tax Act, 1961, to Electrical Research and Development Association, vide Ministry of Finance (Department of Revenue & Insurance) Notification No. 710 (F. No. 203/48/74-ITA. II) dated 26-8-1974, is hereby restricted up to 31-3-1984.

Notification No. S.O.198-Income Tax, Dated: 19.12.1985

December 19, 1985 184 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 Vellingiri Andavar Temple, Poondi”, for the purpose of the said section for the period covered by the assessment years 1983-84 to 1986-87.

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