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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


What is Perquisites and profits in lieu of salary?

Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...

February 12, 2025 9 Views 0 comment Print

Union Budget 2025-26: Economic Growth & Direct Tax Reforms

Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...

February 12, 2025 72 Views 0 comment Print

New Income Tax Bill 2025: Streamlining India’s Tax System for Modern Times

Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...

February 12, 2025 4326 Views 0 comment Print

Flat Taxes in India: Oversimplification or need of the hour?

Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...

February 12, 2025 333 Views 0 comment Print

Nil Tax Up To Rs. 12 Lakhs Income (FY 2025-26); Tax Computation With Illustrations & FAQs

Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...

February 11, 2025 11556 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 10542 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 13707 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 12603 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 42 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 66 Views 0 comment Print


Latest Judiciary


No Addition Based on mere Loose Papers, WhatsApp Chats: ITAT Pune

Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...

February 12, 2025 1605 Views 0 comment Print

Recovery of Income Tax Arrears from Auctioned Property Untenable: Kerala HC

Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...

February 12, 2025 51 Views 0 comment Print

License Fees for Goodwill acquisition Allowed as Expense U/S 37: Delhi HC

Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...

February 12, 2025 36 Views 0 comment Print

ITAT Delhi upholds Addition of bogus LTCG from penny stock

Income Tax : ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, app...

February 12, 2025 39 Views 0 comment Print

Adjustment of disallowance of deduction u/s. 80P(2)(d) is not permissible u/s. 143(1)

Income Tax : ITAT Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of ...

February 12, 2025 258 Views 0 comment Print


Latest Notifications


Govt released Income-Tax Bill, 2025 (Download)

Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...

February 12, 2025 44490 Views 0 comment Print

Income Tax Act: Bhaikaka University Approved for Research

Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...

February 11, 2025 171 Views 0 comment Print

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 288 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 300 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 2583 Views 0 comment Print


Notification No. S.O.2568-Income Tax Dated 25/7/1984

July 25, 1984 339 Views 0 comment Print

Notification No. S.O.2568-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 ” Sri Sri Thakur Ramchandra Dev Association (Regd.) New Delhi ” for the purpose of the said section for the period covered by the assessment years 1982-83 to 1984-85.

Notification No. S.O.2567-Income Tax Dated 25/7/1984

July 25, 1984 363 Views 0 comment Print

Notification No. S.O.2567-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 Siddaganga Mutt Tunkur Distt. ” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

Notification No. S.O.2566-Income Tax Dated 25/7/1984

July 25, 1984 333 Views 0 comment Print

Notification No. S.O.2566-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 ” Immaculate conception Convent, Coimbatore ” for the purpose of the said section for the period covered by the assessment years 1982-83 to 1984-85.

Notification No. S.O.2565-Income Tax Dated 25/7/1984

July 25, 1984 330 Views 0 comment Print

Notification No. S.O.2565-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 ” Sri Madujjaini Saddharma Simhasana Sri Taralabalu Jagadguru Bruhanmath ” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.

Notification No. S.O.527(E)-Income Tax Dated 24/7/1984

July 24, 1984 249 Views 0 comment Print

Notification No. S.O.527(E)-Income Tax In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely This notification contains Amendment to Income-tax (Second Amendment) Rules carried out on 24th July, 1984 not reproduced here as it is already contained in the body of the rules itself

Notification No. S.O.3076-Income Tax Dated 21/7/1984

July 21, 1984 756 Views 0 comment Print

Notification No. S.O.3076-Income Tax 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 (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6 of the Income-tax Rules, 1962,

Notification No. S.O.3057-Income Tax Dated 21/7/1984

July 21, 1984 276 Views 0 comment Print

Notification No. S.O.3057-Income Tax In continuation of this office Notification No. 4593 (F. No. 203/32/82-ITA-II), dated 30-4-1982, 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 (ii) of sub-section (1)

Notification No. S.O.2562-Income Tax Dated 19/7/1984

July 19, 1984 330 Views 0 comment Print

Notification No. S.O.2562-Income Tax 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 (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6 of the Income-tax Rules, 1962,

Notification No. S.O.3056-Income Tax Dated 18/7/1984

July 18, 1984 279 Views 0 comment Print

Notification No. S.O.3056-Income Tax In continuation of this office Notification No. 4335 (F. No. 203/159/81-ITA-II), dated 25-11-1981, 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 (ii) of sub-section (1)

Notification No. S.O.3055-Income Tax Dated 17/7/1984

July 17, 1984 384 Views 0 comment Print

Notification No. S.O.3055-Income Tax In continuation of this office Notification No. 5428 (F. No. 203/108/83-ITA-II), dated 17-10-1983 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 (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read

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