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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


Computation of Total income & Tax Liability as per Income Tax Act 1961

Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...

February 9, 2025 183 Views 0 comment Print

Income Tax Return Filing Guide for Proprietors in the USA

Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...

February 9, 2025 129 Views 0 comment Print

Cost Inflation Index Update FY 2024-25: Key Changes Explained

Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...

February 9, 2025 96 Views 0 comment Print

Taxation of International Transactions In India Under Income Tax Act 1961

Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...

February 9, 2025 489 Views 0 comment Print

Union Budget 2025 – Key Direct Tax Highlights

Income Tax : Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, a...

February 9, 2025 774 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 8688 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 8985 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 11022 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 30 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 57 Views 0 comment Print


Latest Judiciary


CBDT Must Grant Opportunity Before Rejecting Section 119(2)(b) Applications

Income Tax : Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of ...

February 9, 2025 39 Views 0 comment Print

Video Conferencing Not Granted as Further Clarification Was Unnecessary: No Violation of Natural Justice

Income Tax : Bombay HC ruled on Anandkumar Dhanraj Rathod's tax case, addressing natural justice claims and directing him to appeal the assessm...

February 9, 2025 165 Views 0 comment Print

Section 263 Invocation justified as AO passed order without Necessary inquiries

Income Tax : ITAT Chennai dismisses FLsmidth's appeal, upholding PCIT's order for reassessment due to lack of verification by AO....

February 9, 2025 48 Views 0 comment Print

ITAT Mumbai: Sections 147/148 Apply even if AO not invokes Section 153C; ₹4.89 Cr Addition Upheld Under Section 68

Income Tax :  ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. Vijay Maneklal Bhansali’s appeal dismissed, citing lack of eviden...

February 9, 2025 249 Views 0 comment Print

ITAT Chennai Remands ₹42.72 Lakh demonetization Cash Deposit addition Case to AO

Income Tax : ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made d...

February 9, 2025 57 Views 0 comment Print


Latest Notifications


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 174 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 2523 Views 0 comment Print

Finance Bill, 2025 – Budget 2025 (Read Full)

Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...

February 1, 2025 4977 Views 0 comment Print

CBDT Allows Income Tax Data Sharing for PMGKAY Beneficiaries

Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...

January 30, 2025 399 Views 0 comment Print

Income Tax Dept. IT Systems Declared Protected Under Information Technology Act

Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...

January 28, 2025 414 Views 0 comment Print


Circular No. 304-Income Tax dated 2-6-1981

June 2, 1981 375 Views 0 comment Print

Circular No. 304-Income Tax Attention is invited to Circular No. 284, dated 13-10-1980 issued by the Board from F. No. 340/9/80-GT [Annex] on the above subject.

Notification No. S.O.2562 – Income Tax date 1/6/1981

June 1, 1981 343 Views 0 comment Print

Notification No. S.O.2562 – Income Tax In continuation of this department’s Notification No. 2441 dated 29-7-78 (F. No. 203/44/78-ITA–II), it is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Department of Science and Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of

Notification No. S.O.2561 – Income Tax Date 1/6/1981

June 1, 1981 388 Views 0 comment Print

Notification No. S.O.2561 – Income Tax In notification No. 299 (F. No. 203/23/71–ITA–II] dated 28-10-1971, after the words, ” Raghvendra Industrial Research Foundation, Delhi “, a sub-para. may be added as follows

Notification No. S.O.396(E) – Income Tax Date 30/5/1981

May 30, 1981 358 Views 0 comment Print

Notification No. S.O.396(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

Notification No. S.O.2044 – Income Tax Date 29/5/1981

May 29, 1981 379 Views 0 comment Print

Notification No. S.O.2044 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Kasturbhai Lalbhai Charity Trust, Ahmedabad, for the purpose of the said section for the period covered by the assessment years 1980-81 and 1981-82.

Notification No. S.O.2043 – Income Tax Date 29/5/1981

May 29, 1981 205 Views 0 comment Print

Notification No. S.O.2043 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Subramania Samaj, Bombay for the purpose of the said section for the period covered by the assessment years 1980-81 and 1981-82.

Notification No. S.O.2042 – Income Tax Date 29/5/1981

May 29, 1981 298 Views 0 comment Print

Notification No. S.O.2042 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Narotam Lalbhai Trust, Ahmedabad, for the purpose of the said section for the period covered by the assessment years 1980-81 and 1981-82.

Notification No. S.O.1991 – Income Tax Date 29/5/1981

May 29, 1981 247 Views 0 comment Print

Notification No. S.O.1991 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Lalbhai Dalpatbhai Charity Trust, Ahmedabad for the purpose of the said section for the period convered by the assessment years 1980-81 and 1981-82.

Notification No. S.O.1895-Income Tax, Dated: 29.05.1981

May 29, 1981 232 Views 0 comment Print

In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Lal Bahadur Shastri National Memorial Trust for the purpose of the said section for the period covered by the assessment years 1967-68 to 1981-82.

Notification No. S.O.2128 – Income Tax Date 28/5/1981

May 28, 1981 355 Views 0 comment Print

Notification No. S.O.2128 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Thiru Jeer Mutt, Thirukkuraungudi P.O. (Tamil Nadu) for the purpose of the said section for and from the assessment years 1976-77 to 1981-82.

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