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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


Legal and Tax Concept Differentiators

Income Tax : Understand key differences between legal and tax terms like Act vs Rule, Exemption vs Deduction, TDS vs TCS, and more for better c...

April 25, 2025 303 Views 0 comment Print

ITAT Mumbai deletes ₹103 Crore Addition for Auto Driver

Income Tax : ITAT Mumbai ruled in favor of an auto-rickshaw driver, rejecting a ₹103 Crore income addition, citing insufficient investigation...

April 25, 2025 5679 Views 0 comment Print

Luxury Now Comes With Tax! All You Need to Know About 1% TCS on Luxury Goods

Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...

April 25, 2025 489 Views 0 comment Print

TCS on Luxury Goods: New Tax Rules in India

Income Tax : Learn about India's TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, a...

April 24, 2025 3888 Views 0 comment Print

FAQs on TCS on Luxury Goods: New Rules & Items (₹10 Lakh+)

Income Tax : Learn about the latest changes in TCS under Section 206C(1F) for luxury goods exceeding ₹10 lakh. Find the list of notified item...

April 24, 2025 6834 Views 0 comment Print


Latest News


CBDT Notification 38/2025: Settlement Expense Non-Deductibility – FAQs

Income Tax : Understand CBDT's Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violat...

April 25, 2025 3867 Views 0 comment Print

Inordinate Delay in Disposal of Appeals by National Faceless Appeal Centre

Income Tax : Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpa...

April 24, 2025 462 Views 0 comment Print

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 2523 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 2160 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 366 Views 0 comment Print


Latest Judiciary


Providing unreasonably short time of 6 days against mandate of law: ITAT Raipur

Income Tax : ITAT Raipur held that providing unreasonably short period of time of six days for furnishing reply vide notice issued u/s. 148A(b)...

April 26, 2025 102 Views 0 comment Print

LTCG Exemption Cannot Be Denied on Mere Probabilities Without Legal Evidence

Income Tax : AO could not reject the LTCG Exemption claim based on mere surrounding circumstances or probabilities without presenting any legal...

April 25, 2025 1176 Views 0 comment Print

LTCG Addition by AO Based on Suspicion, Unsupported by Evidence, Deleted by ITAT Jaipur

Income Tax : ITAT Jaipur accepts LTCG claim of Vivek Agarwal; rejects AO's addition under Section 68, citing adequate evidence of share transac...

April 25, 2025 363 Views 0 comment Print

Genuine LTCG Exemption Cannot Be Denied Based on Suspicion or Conjectures

Income Tax : ITAT Kolkata deletes addition under Section 68, accepting LTCG on share sale by Kiran Kothari as genuine, rejecting AO's reliance ...

April 25, 2025 81 Views 0 comment Print

Software Development is Production; Investment & Addl. Depreciation Allowed

Income Tax : ITAT Bangalore rules software development as "production", allowing Bosch's claim under Sections 32(1)(iia) and 32AC for depreciat...

April 25, 2025 48 Views 0 comment Print


Latest Notifications


Mysore Palace Board Income Tax Exemption Notification – Section 10(46)

Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...

April 25, 2025 93 Views 0 comment Print

Expenses for Settlement of SEBI & Competition & Depositories Act Violations not allowable

Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...

April 24, 2025 150 Views 0 comment Print

Notification u/s 10(46A) of Income Tax Act in case of National Mission for Clean Ganga

Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...

April 23, 2025 84 Views 0 comment Print

CBDT notifies 10 new items on which TCS needs to be collected

Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ケ10 lakh, effectiv...

April 23, 2025 16359 Views 1 comment Print

CBDT amends form No. 27EQ and added 10 new items for TCS Reporting

Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...

April 23, 2025 1566 Views 0 comment Print


Notification No. S.O.243(E) – Income Tax Dated 30/3/1989

March 30, 1989 423 Views 0 comment Print

Notification No.S.O.243(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Chief Commissioner (Administration), Calcutta, having his headquarters at Calcutta, shall also have jurisdiction in respect of the territorial area of the State of Sikkim

Notification No. S.O.239(E)-Income Tax, Dated: 29.03.1989

March 29, 1989 331 Views 0 comment Print

This notification contains Amendment (First Amendment) to Income-tax Rules carried out on 29th March, 1989 not reproduced here as it is already contained in the body of the Rules itself.

Notification No. S.O.1726-Income Tax, Dated: 28.03.1989

March 28, 1989 268 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.1727-Income Tax, Dated: 28.03.1989

March 28, 1989 214 Views 0 comment Print

That the said Institute will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 31st May, each year.

Notification No. S.O.1728-Income Tax, Dated: 28.03.1989

March 28, 1989 244 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.2037-Income Tax, Dated: 28.03.1989

March 28, 1989 211 Views 0 comment Print

That the said Institute will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 31st May, each year.

Notification No. S.O.2038-Income Tax, Dated: 28.03.1989

March 28, 1989 271 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.2332-Income Tax, Dated: 28.03.1989

March 28, 1989 289 Views 0 comment Print

That the said Institute will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 31st May, each year.

Notification No. S.O.2416-Income Tax, Dated: 28.03.1989

March 28, 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.2417-Income Tax, Dated: 28.03.1989

March 28, 1989 295 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.

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