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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


Income Tax Bill 2025: Key Proposals and Simplifications

Income Tax : Discover key changes in the Income Tax Bill 2025, including enhanced rebates, simplified trust provisions, and extended registrati...

March 15, 2025 435 Views 0 comment Print

Analysis of Section 194T of Income Tax Act 1961: TDS on Payments to Partners

Income Tax : Section 194T mandates 10% TDS on partner payments exceeding ₹20,000 annually, effective April 1, 2025. Learn its impact, complia...

March 15, 2025 723 Views 0 comment Print

Income from ‘Profits and Gains of Business or Profession’

Income Tax : Understand income tax rules for business & profession in India. Covers business, profession, vocation, occupation, and deduction g...

March 15, 2025 606 Views 0 comment Print

Income from Business and Profession under Income Tax Act 1961

Income Tax : In the realm of taxation, income is classified into various categories, with one of the most significant being Income from Busines...

March 13, 2025 894 Views 0 comment Print

Unlocking Mysteries of Gross Total Income and Income Tax Deductions

Income Tax : The Indian taxation framework, as delineated by the Income Tax Act of 1961, may initially seem daunting. Nevertheless, acquiring a...

March 13, 2025 1542 Views 0 comment Print


Latest News


Corporate Tax Collection Trends & Foreign Investment Policies

Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...

March 16, 2025 33 Views 0 comment Print

Impact of New Income Tax Bill 2025 on Compliance & Revenue

Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...

March 16, 2025 78 Views 0 comment Print

Govt Expects 12.65% Rise in Income Tax Collections Despite Tax Rate Cut

Income Tax : The Finance Bill 2025 projects a 12.65% rise in income tax collections despite tax cuts, with estimated receipts of ₹25.20 lakh ...

March 16, 2025 33 Views 0 comment Print

Impact of Tax Rate Reduction on Middle-Class & Savings

Income Tax : The Finance Bill 2025 revises tax slabs, reducing the burden on middle-class taxpayers. The changes aim to boost savings and consu...

March 16, 2025 39 Views 0 comment Print

Corporate Tax Revenue Collection and Statewise Distribution

Income Tax : Corporate tax revenue distribution follows Finance Commission guidelines, with states receiving 41% of shareable taxes. Incentives...

March 16, 2025 36 Views 0 comment Print


Latest Judiciary


Section 56(2)(viib) Not Applicable to Share premium Transactions Between Holding & Wholly-Owned Subsidiary

Income Tax : Delhi High Court sets aside DRP's order in FIS Payment case, directing a fresh review under ITAT rulings on Section 56(2)(viib). K...

March 16, 2025 63 Views 0 comment Print

ITAT deletes Section 56(2)(viib) addition & Upholds DCF method

Income Tax : ITAT Delhi upholds CIT(A) ruling in Kissandhan Agri case, rejecting tax addition under Section 56(2)(viib). AO’s valuation metho...

March 16, 2025 72 Views 0 comment Print

ITAT Mumbai Allows CSR Deduction Under Section 80G

Income Tax : ITAT Mumbai ruled in favor of Jamnagar Utilities, allowing CSR donations as deductions under Section 80G, rejecting the Revenue's ...

March 16, 2025 957 Views 0 comment Print

Section 115BBE not applicable to business income declared during survey: ITAT Pune

Income Tax : ITAT Pune ruled that Section 115BBE does not apply to business income declared in a survey. Read the case details and implications...

March 16, 2025 123 Views 0 comment Print

Addition for unverified creditors under Section 41(1) not automatic: ITAT Kolkata

Income Tax : ITAT Kolkata partly allows Utpal Sarkar’s appeal against DCIT, addressing bogus sundry creditors and inter-unit transactions. Ca...

March 15, 2025 318 Views 0 comment Print


Latest Notifications


CBDT notifies Power Finance Corp Zero Coupon Bond under section 2(48)

Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...

March 11, 2025 1017 Views 0 comment Print

High-Risk and Non PAN Transaction Cases: Insight Portal Guidelines

Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...

March 7, 2025 645 Views 0 comment Print

High-Risk CRIU/VRU Cases and proceedings under Sections 148/148A

Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...

March 7, 2025 609 Views 0 comment Print

Assessment & Investigation of Benami, Foreign Assets & TDS Cases

Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...

March 7, 2025 315 Views 0 comment Print

Income Tax Department identifies High-Risk Non-Filers for AY 2019-22

Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...

March 7, 2025 9672 Views 0 comment Print


Notification No. S.O.3586-Income Tax, Dated: 14.07.1986

July 14, 1986 196 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 “Srirangam Srimad Andavan Periasramam, Srirangam” for the purpose of the said section for the assessment years 1985-86 to 1987-88.

Notification No. S.O.3587-Income Tax, Dated: 14.07.1986

July 14, 1986 229 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 “Sechasanvasi Sri Akashar Purushottam Sanstha Trust” for the purpose of the said section for the assessment years 1987-88 to 1989-90.

Notification No. S.O.3167-Income Tax, Dated: 14.07.1986

July 14, 1986 211 Views 0 comment Print

In continuation of this Office Notification No. 6282 (F. No. 203/230/84-ITA.II) dated 21-6-1985, it is hereby notified for general information that the Institution mentioned below has been approved by the Department of Scientific and Industrial Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 (Thirty-five/one/two) of the Income-tax Act, 1961.

Notification No. S.O.3588-Income Tax, Dated: 14.07.1986

July 14, 1986 178 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 “Shree Jayarambhai Dayabhai Chauhan (Bytco) Charitable Trust” for the purpose of the said section for the assessment years 1985-86 to 1986-87.

Notification No. S.O.3589-Income Tax, Dated: 14.07.1986

July 14, 1986 220 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 “R.C. Diocese of Palayamkottai” for the purpose of the said section for the assessment year 1983-84.

Circular No. 463-Income Tax dated 11-7-1986

July 11, 1986 360 Views 0 comment Print

Circular : No. 463-Income Tax Section 80HHC, as substituted by the Finance Act, 1985, provides that an assessee, being an Indian company or a person (other than a company) who is resident in India, exports out of India during the previous year any goods or merchandise to which this section applies, will be allowed [deduction of an amount

Circular No. 462-Income Tax dated 10-7-1986

July 10, 1986 300 Views 0 comment Print

Circular: No. 462-Income Tax I am directed to invite a reference to this Department’s Circular No. 426 [F. No. 275/32/85-IT(B)], dated 24-7-1985 wherein the rates at which the deduction of income-tax was to be made during the financial year 1985-86 from payments of income by way of insurance commission under section 194D were intimated.

Notification No. S.O.412(E)-Income Tax, Dated: 09.07.1986

July 9, 1986 358 Views 0 comment Print

This notification contains Amendment to Income-tax (Fourth Amendment) Rules, 1986 carried out on July 9, 1986 not reproduced here as it is already contained in the body of the Rules itself.

Notification No. S.O.413(E)-Income Tax, Dated: 09.07.1986

July 9, 1986 403 Views 0 comment Print

This notification contains Amendment to Income-tax (Fifth Amendment) Rules, 1986 carried out on 9th July, 1986 not reproduced here as it is already contained in the body of the Rules itself.

Circular No. 461-Income Tax Dated 9-7-1986

July 9, 1986 1080 Views 0 comment Print

CIRCULAR NO. 461-Income Tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1986-87, the rates of income-tax (including surcharge thereon) have been specified in Part I of the First Schedule to the Finance Act. These rates are the same as those laid down in Part III of the First Schedule to the Finance Act, 1985, for the purposes of

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