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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 609 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 924 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 690 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 939 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 1626 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 48 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 117 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 54 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 57 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 60 Views 0 comment Print


Latest Judiciary


CIT(A) Must Decide even Ex-Parte Appeals on Merits: ITAT Cochin

Income Tax : Key highlights of the ITAT Cochin order in Premalatha Korottoliprasantham Vs ITO for AY 2017-18, addressing non-filing of returns ...

March 17, 2025 12 Views 0 comment Print

Kerala HC Stays Income Tax Recovery Pending ITAT Appeal

Income Tax : Kerala High Court halts income tax recovery against SML Finance Ltd. until ITAT disposes of pending appeal for assessment year 201...

March 17, 2025 15 Views 0 comment Print

CIT(A) NFAC Must Address Appeals on Merits Even in Ex-Parte Orders: ITAT Pune

Income Tax : ITAT Pune mandates CIT(A) to decide cases on merit, even ex parte, remanding Santosh Varade's income addition dispute for reassess...

March 17, 2025 15 Views 0 comment Print

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 141 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 162 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 1020 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 648 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 9678 Views 0 comment Print


Notification No. S.O.3843 – Income Tax Dated 25/6/1985

June 25, 1985 393 Views 0 comment Print

Notification No. S.O.3843 – 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 ” Shri Bahubali Brahmachary Ashram, Bahubali ” for the purpose of the said section for the period covered by the assessment years 1983-84 to 1985-86

Notification No. S.O.3750 – Income Tax Dated 21/6/1985

June 21, 1985 276 Views 0 comment Print

Notification No- S.O.3750 – 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, under the category ” Association ” subject to the following

Notification No. S.O.3751- Income Tax Dated 20/6/1985

June 20, 1985 354 Views 0 comment Print

Notification No- S.O.3751- Income Tax In continuation of this Office Notification No. 3912 (F. No. 203/183/80-ITA. II) dated March 24, 1981, (printed in [1981] 131 ITR (St.) 180), 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 (iii) of sub-section (1) of section 35 of

Circular No. 422-Income Tax dated 19-6-1985

June 19, 1985 627 Views 0 comment Print

Circular No. 422-Income Tax Section 44AB lays down that every person carrying on business, whose sales, turnover or gross receipts exceed rupees forty lakhs or carrying on a profession, whose gross receipts exceed rupees ten lakhs, shall get his accounts of such previous year audited before the specified date and obtain before that date the report of such audit in the prescribed form

Notification No. S.O.3847 – Income Tax Dated 19/6/1985

June 19, 1985 345 Views 0 comment Print

Notification No-S.O.3847 – 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 ” Mecca Masjid Endowment ” for the purpose of the said section for the period covered by the assessment years 1982-83 to 1986-87

Notification No. S.O.466(E) – Income Tax Dated 18/6/1985

June 18, 1985 522 Views 0 comment Print

Notification No- S.O.466(E) – Income Tax In pursuance of clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. S.O. 616(E), dated the 23rd August, 1984, the Central Government hereby fixes with immediate effect 10.5 per cent as the rate referred to in the said clause (b)

Notification No. S.O.4232 – Income Tax Dated 18/6/1985

June 18, 1985 270 Views 0 comment Print

Notification No- S.O.4232 – 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 Co-operative Management, Ahmedabad “, for the purpose of the said section for the period covered by the assessment years 1983-84, 1984-85 and 1985-86

Notification No. S.O.4231- Income Tax Dated 18/6/1985

June 18, 1985 231 Views 0 comment Print

Notification No- S.O.4231- 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 ” Indira Gandhi Memorial Trust “, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1989-90.

Notification No. S.O.4230 – Income Tax Dated 18/6/1985

June 18, 1985 216 Views 0 comment Print

Notification No- S.O.4230 – 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 ” Sevagram Ashram Pratishthan “, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88

Notification No. S.O.4229 – Income Tax Dated 18/6/1985

June 18, 1985 345 Views 0 comment Print

Notification No-S.O.4229 – 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 ” India Sponsorship Committee, Bombay “, for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88

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