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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


Tax Deduction at Source on Payments to Non-Residents

Income Tax : Learn about TDS on payments to non-residents, including business connection rules, royalty provisions, and significant economic pr...

March 17, 2025 591 Views 0 comment Print

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 1059 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 1644 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 855 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 999 Views 0 comment Print


Latest News


Direct Tax & Advance Tax Collections for F.Y. 2024-25 as on 16.03.2025

Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...

March 17, 2025 21 Views 0 comment Print

CBDT Clarifies Guidance on Principal Purpose Test (PPT)

Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...

March 17, 2025 300 Views 0 comment Print

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 72 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 246 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 72 Views 0 comment Print


Latest Judiciary


Writ dismissed as no question of law arises: Delhi HC

Income Tax : The Assessee is aggrieved by the information received pursuant to application under Right to Information Act, 2015, whereby the As...

March 17, 2025 30 Views 0 comment Print

Revisionary action u/s. 263 based on factual misconception bad-in-law

Income Tax : ITAT Mumbai held that exercising revisionary jurisdiction under section 263 of the Income Tax Act by PCIT on the basis of factual ...

March 17, 2025 42 Views 0 comment Print

Revisionary jurisdiction u/s. 263 not invocable as twin pre-conditions not satisfied

Income Tax : ITAT Ahmedabad held that assessment order passed u/s. 143(3) is neither erroneous nor prejudicial to the interest of revenue. Henc...

March 17, 2025 30 Views 0 comment Print

Voluntary addition during hearing cannot be equated with revision of settlement application

Income Tax : During pendency of the assessment proceedings, respondent No.1 filed application u/s. 245C(1) before the Income Tax Settlement Com...

March 17, 2025 30 Views 0 comment Print

Writ dismissed as alternate and efficacious remedy available: Bombay HC

Income Tax : Bombay High Court held that exercising extraordinary jurisdiction under Article 226 of the Constitution of India not justified as ...

March 17, 2025 33 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 1050 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 654 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 633 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 318 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 9702 Views 0 comment Print


Notification No. 5007/1985 – Income Tax Dated 19/9/1985

September 19, 1985 223 Views 0 comment Print

Notification No.5007 – Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Institute of Company Secretaries of India”, for the purpose of the said section for the period covered by the assessment years 1983-84 to 1986-87

Notification No. 5006/1985 – Income Tax Dated 18/9/1985

September 18, 1985 322 Views 0 comment Print

Notification No.5006 – Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Bihar School of Yoga”, for the purpose of the said section for the period covered by the assessment years 1983-84 to 1986-87

Circular No. 431-Income Tax dated 12-9-1985

September 12, 1985 5388 Views 0 comment Print

Circular No. 431-Income Tax Section 89(1) provides for relief to an assessee when salary, etc., is paid in arrears or in advance or if he receives in one financial year salary for more than 12 months or a payment which under the provisions of clause (3) of section 17 is a profit in lieu of salary and therefore, his income is assessed at a rate higher than at which it would have otherwise been assessed. This relief is granted by the Income-tax Officer on an application made to him in this behalf

Notification No. S.O.5005 – Income Tax Dated 12/9/1985

September 12, 1985 345 Views 0 comment Print

Notification No.S.O.5005 – Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” (1) Rajasthan Chief Minister’s Hospital Development Fund ; (2) Rajasthan Chief Minister’s General Relief Fund ; (3) Rajasthan Chief Minister’s Drought and Flood Relief Fund ; (4) Rajasthan Chief Minister’s Defence

Notification No. S.O.4756 – Income Tax Dated 12/9/1985

September 12, 1985 288 Views 0 comment Print

Notification No.S.O.4756 – 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 ” Delhi Orthodox Diocesan Council, New Delhi “, for the purpose of the said section for the period covered by the assessment years 1980-81 to 1985-86

Notification No. S.O.4755- Income Tax Dated 12/9/1985

September 12, 1985 228 Views 0 comment Print

Notification No.S.O.4755- 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 notified ” The Maunathul Islam Association, Ponnani Nagaram “, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88

Notification No. S.O.5004 – Income Tax Dated 10/9/1985

September 10, 1985 231 Views 0 comment Print

Notification No.S.O.5004 – Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Indian Parliamentary Group “, for the purpose of the said section for the period covered by the assessment years 1987-88 to 1989-90

Notification No. S.O.5003 – Income Tax Dated 10/9/1985

September 10, 1985 282 Views 0 comment Print

Notification No.S.O.5003 – Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Pirojsha Godrej Foundation, Bombay “, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88

Notification No. S.O.4754 – Income Tax Dated 9/9/1985

September 9, 1985 180 Views 0 comment Print

Notification No.S.O.4754 – Income Tax 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 ” Shri Mullavananatha Swami Temple, Tirukarugavur, Papanasam Taluk, Thanjavur Dist “, as a place of public worship of renown throughout the State of Tamil Nadu

Circular No. 430-Income Tax Dated 6-9-1985

September 6, 1985 360 Views 0 comment Print

Circular no. 430-Income Tax Under section 84(2) 1 , an Indian company is prohibited from registering any transfer of shares standing in the name of a deceased member of the company unless the transferee has acquired the shares for valuable consideration or a certificate from the Controller of Estate Duty is produced before the company that estate duty in respect of the shares has been paid or will be

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