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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


Vivad Se Vishwas Scheme, 2024

Income Tax : The provisions of Income Tax Act, provide for mechanism of filling of appeals against orders passed under the proceedings of the A...

August 18, 2024 Views 0 comment Print

Double Tax Avoidance Agreement (DTAA)

Income Tax : DTAA prevents double taxation on international income, promoting global trade. Learn how it benefits taxpayers, methods of elimina...

August 18, 2024 33 Views 0 comment Print

Donation to Political Parties: Legal Framework & Tax Implications

Income Tax : Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and...

August 16, 2024 864 Views 0 comment Print

Income Tax Calculator Financial Year 2024-25

Income Tax : Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime sugges...

August 16, 2024 34626 Views 22 comments Print

Importance of Show-Cause Notices: Key Insights & Case Laws

Income Tax : Learn the importance of show-cause notices, their legal implications, and how to respond effectively to protect your rights. Explo...

August 16, 2024 492 Views 0 comment Print


Latest News


Direct Tax Collections FY 2024-25 Reach Rs. 6.93 Lakh Crores as on 11.08.2024

Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...

August 13, 2024 255 Views 0 comment Print

Live Course: Handling Faceless Income Tax Assessment with AI Tools like ChatGPT

Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...

August 12, 2024 486 Views 0 comment Print

Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 12, 2024 261 Views 0 comment Print

Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 12, 2024 462 Views 0 comment Print

FAQs on PFA & Defective for ITR 1 to 6 for AY 24-25

Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...

August 10, 2024 3039 Views 0 comment Print


Latest Judiciary


Section 271(1)(c) Penalty not leviable merely for making a unsustainable claim: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that merely making a claim that is not sustainable does not amount to furnishing inaccurate particulars of inc...

August 18, 2024 21 Views 0 comment Print

Payment Under Settlement Memorandum Allowable as Business Expenditure: Bombay HC

Income Tax : Bombay High Court held that amount paid towards community services and social welfare under Memorandum of Settlement under the Ind...

August 18, 2024 18 Views 0 comment Print

Construction of new dwelling unit eligible for Section 54F deduction: ITAT Chennai

Income Tax : ITAT Chennai held that construction of new dwelling unit on first floor is eligible for deduction under section 54F of the Income ...

August 18, 2024 15 Views 0 comment Print

No Section 56(2)(x) addition if Market Value Difference Is Within 10% tolerance limit

Income Tax : ITAT Mumbai grants relief to Tarun Mohan Jani, ruling that property valuation difference within 10% tolerance limit doesn't warran...

August 18, 2024 48 Views 0 comment Print

Audit Report Not Mandatory with Return; Can Be Filed Before Assessment Completion: Delhi HC

Income Tax : Delhi High Court quashes reassessment notices for AYs 2013-14 and 2014-15, citing procedural lapses and lack of valid grounds unde...

August 18, 2024 78 Views 0 comment Print


Latest Notifications


Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 2973 Views 0 comment Print

Guidelines for Handling High-Risk PAN Cases in Insight Portal

Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...

August 12, 2024 6669 Views 0 comment Print

Income Tax Exemption for UIDAI’s Specified Income 2024-2029

Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...

August 12, 2024 279 Views 0 comment Print

Income Tax Exemption for West Bengal Transport Workers Social Security Scheme

Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...

August 12, 2024 81 Views 0 comment Print

Notification No. 98/2024 Income Tax Exemption for Karnataka Disaster Centre

Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...

August 7, 2024 732 Views 0 comment Print


Notification: S.O.662 Date of Issue: 6/12/1975

December 6, 1975 361 Views 0 comment Print

Notification: S.O.662 In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Mangalanathaswamy Temple, Thiru Uthira Kosamangai, Ramanathapuram Taluk and Distt., to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section

Notification: S.O.583 Date of Issue: 19/11/1975

November 19, 1975 316 Views 0 comment Print

Notification: S.O.583 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961. The institution shall, as agreed to, maintain a separate account for the grant

Circular No. 184-Income Tax dated 14-11-1975

November 14, 1975 292 Views 0 comment Print

Circular No. 184-Income Tax Under section 3(1) of the Ordinance, a person can declare his income liable to tax for any assessment year up to and including the assessment year 1975-76 falling under any of the following categories: ( a) income for which he has failed to furnish a return under section 139 of the Income-tax Act; or ( b) income which he has failed to disclose in a return of income filed by him under the Income-tax Act before

Circular No. 184-Income Tax dated 14/11/1975

November 14, 1975 295 Views 0 comment Print

Circular No. 184-Income Tax 6. Under section 3(1) of the Ordinance, a person can declare his income liable to tax for any assessment year up to and including the assessment year 1975-76 falling under any of the following categories: ( a) income for which he has failed to furnish a return under section 139 of the Income-tax Act; or ( b) income which he has failed to disclose in a return of income filed by him under the Income-tax Act before 8-10-1975; or

Circular No. 183-Income Tax dated 11-11-1975

November 11, 1975 355 Views 0 comment Print

Circular No. 183-Income Tax . Under section 3(1) of the Ordinance, a person can declare his income liable to tax for any assessment year up to and including the assessment year 1975-76 falling under any of the following categories: ( a) income for which he has failed to furnish a return under section 139 of the Income-tax Act; or ( b) income which he has failed to disclose in a return of income filed by him under the Income-tax Act before 8-10-1975; or

Notification: S.O.5285 Date of Issue: 29/10/1975

October 29, 1975 223 Views 0 comment Print

Notification: S.O.5285 In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961, (43 of 1961), the Central Government hereby notifies Sri Lakshminarasimhaswamy

Circular No. 182-Income Tax dated 28-10-1975

October 28, 1975 418 Views 0 comment Print

Circular : No. 182-Income Tax Attention is invited to para 2(3) of this Ministry’s Circular No. 161, dated 22-3-1975 [Clarification 1] on the above subject, which lays down that for the purpose of computing the total income of an employee, the amount credited to his ledger account in the Additional Wages Deposit Account or the Additional Dear­ness Allowance

Notification: S.O.5349 Date of Issue: 27/10/1975

October 27, 1975 250 Views 0 comment Print

Notification: S.O.5349 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the p

Notification: S.O.323 Date of Issue: 27/10/1975

October 27, 1975 316 Views 0 comment Print

Notification: S.O.323 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purposes of claus

Circular No. 181-Income Tax dated 25-10-1975

October 25, 1975 307 Views 0 comment Print

Circular No. 181-Income Tax Under section 3(1) of the Ordinance, a person can declare his income liable to tax for any assessment year up to and including the assessment year 1975-76 falling under any of the following categories: ( a) income for which he has failed to furnish a return under section 139 of the Income-tax Act; or ( b) income which he has failed to disclose in a return of income filed by him under the Income-tax Act before

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