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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


Amendment in Section 143(1) of Income Tax Act, 1961

Income Tax : The 2025 amendment in Section 143(1) of the Income Tax Act introduces new compliance requirements. Taxpayers must ensure consisten...

April 14, 2025 243 Views 0 comment Print

Presumptive Taxation Scheme for Professionals: Benefits & Misconceptions

Income Tax : To give relief to small taxpayers from tedious job of maintaining of books of account and getting accounts audited, Income-tax Act...

April 14, 2025 2724 Views 0 comment Print

Section 87A Rebate & LTCG Tax under section 112A for FY 2024-25

Income Tax : Understand income tax rebate u/s 87A and LTCG tax u/s 112A under the new tax regime for FY 2024-25 with calculation rules, limits,...

April 12, 2025 1917 Views 2 comments Print

Tax Loss Harvesting in FY 2025-26:  A Smart Way to Reduce Your Tax Liability

Income Tax : Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liabi...

April 12, 2025 870 Views 0 comment Print

Unaccounted deposits treated as Liabilities, and not income?

Income Tax : ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income ...

April 12, 2025 402 Views 0 comment Print


Latest News


ITAT enables e-filing and virtual hearings

Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...

April 5, 2025 2172 Views 1 comment Print

Exemption From Income Tax on Annual Income Up To ₹12 Lakh

Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...

April 3, 2025 1764 Views 1 comment Print

Corporate Tax Concessions in India: Key Deductions & Impact

Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...

April 3, 2025 264 Views 0 comment Print

Supplementary FAQs for Finance Bill, 2025

Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...

March 26, 2025 5892 Views 0 comment Print

Challenges and Solutions for Junior Income Tax Assessment Officers

Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...

March 26, 2025 264 Views 0 comment Print


Latest Judiciary


One-Time Membership Fees as Capital Receipts for Coop Bank: ITAT Pune

Income Tax : ITAT Pune rules one-time membership and share fees as capital receipts for Veershaiv Cooperative Bank, reversing lower authority�...

April 14, 2025 57 Views 0 comment Print

ITAT Pune Allows Partial Relief in Demonetization Cash Deposits Case

Income Tax : ITAT Pune grants partial relief in cash deposit case during demonetization under Section 69A. Dispute centered on unexplained depo...

April 14, 2025 48 Views 0 comment Print

Section 263 Revision Requires Lack of Inquiry, Not Just Inadequate Inquiry

Income Tax : ITAT Pune quashes PCIT's Section 263 order against Shree Balaji Associates, stating AO made inquiries; no lack of inquiry found....

April 14, 2025 57 Views 0 comment Print

Shares held as investments are taxable under Capital Gains: ITAT Mumbai

Income Tax : ITAT Mumbai held that as per circular no. 6 of 2016 dated 29th February 2016, it is clear that it is the assessee who decides whet...

April 14, 2025 57 Views 0 comment Print

Section 153C not requires AO to establish link between searched & non-searched persons

Income Tax : Delhi High Court held that section 153C of the Income Tax Act doesn’t required AO to find or uncover a relationship or an associ...

April 14, 2025 57 Views 0 comment Print


Latest Notifications


ITO doesn’t have jurisdiction to issue notice to NRI: ITAT Chandigarh

Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...

April 11, 2025 3876 Views 0 comment Print

CBDT notifies ITR-B for Income Tax Block Search Assessment Return

Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....

April 9, 2025 2742 Views 0 comment Print

CBDT Sets 30th April 2025 as Deadline for Vivad Se Vishwas Declarations

Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....

April 9, 2025 2016 Views 0 comment Print

HUDCO Bonds Notified as Long-Term Assets for Section 54EC

Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...

April 9, 2025 4437 Views 0 comment Print

CBDT notifies Income Tax Exemption for Prayagraj Mela Pradhikaran

Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...

April 8, 2025 144 Views 0 comment Print


Notification No. S.O.2029-Income Tax, Dated: 27.02.1989

February 27, 1989 277 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 income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, DGIT (Exemption), Calcutta, and the concerned Commissioner of Income-tax.

Notification No. S.O.2030-Income Tax, Dated: 27.02.1989

February 27, 1989 214 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 and DGIT (Exemption), Calcutta, 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.2400-Income Tax, Dated: 27.02.1989

February 27, 1989 307 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 and DGIT (Exemption), Calcutta, 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.2401-Income Tax, Dated: 27.02.1989

February 27, 1989 202 Views 0 comment Print

That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, DGIT (Exemption), Calcutta, and the concerned Commissioner of Income-tax.

Notification No. S.O.2403-Income Tax, Dated: 27.02.1989

February 27, 1989 328 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 income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, DGIT (Exemption), Calcutta, and the concerned Commissioner of Income-tax.

Notification No. S.O.2402-Income Tax, Dated: 27.02.1989

February 27, 1989 253 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 and DGIT (Exemption), Calcutta, 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.2026-Income Tax, Dated: 23.02.1989

February 23, 1989 408 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 and DGIT (Exemption), Calcutta, 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.2027-Income Tax, Dated: 23.02.1989

February 23, 1989 309 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 and DGIT (Exemption), Calcutta, 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.2399-Income Tax, Dated: 23.02.1989

February 23, 1989 253 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 and DGIT (Exemption), Calcutta, 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.148(E) – Income Tax Dated 23/2/1989

February 23, 1989 930 Views 0 comment Print

Notification No.S.O.148(E) – Income Tax In pursuance of paragraph (2) of the notification of the Government of India in the Ministry of Home Affairs No. S.O. 1028(E), dated 7th November, 1988, the Central Government hereby appoints

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