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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


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 66 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 4272 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 11481 Views 0 comment Print

Section 194H Applicability on Commission of E-Commerce Operators

Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...

February 11, 2025 423 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 13698 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 12591 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 1509 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 48 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 252 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 43467 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 162 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: S.O.3409 Date of Issue: 2/8/1978

August 2, 1978 345 Views 0 comment Print

Notification: S.O.3409 Following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962, by the Indian Council of Agricultural Research, New Delhi.

Notification: S.O.3150 Date of Issue: 2/8/1978

August 2, 1978 354 Views 0 comment Print

Notification No. S.O.3150 The funds collected by the Gujarat Institute of Area Planning, Ahmedabad, under this exemption will be utilised excusively for promotion of research in Social Sciences. That the Gujarat Institute of Area Planning, Ahmedabad, shall maintain separate accounts of the funds collected by them under the exemption.

Notification: S.O.3149 Date of Issue: 2/8/1978

August 2, 1978 274 Views 0 comment Print

Notification No. S.O.3149 That the institute will maintain a separate account of the sums received by it for scientific research in the field of medical research. (ii) That the institution will furnish annual returns of its scientific research activities to the Council for each financial year by 31st May each year at the latest in such form as may be laid down and intimated to them for this purposes.

Notification: S.O.3686 Date of Issue: 31/7/1978

July 31, 1978 292 Views 0 comment Print

Notification: S.O.3686 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 Arulmigu Ranganathaswamy Temple, Madras, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.

Notification: S.O.3147 Date of Issue: 29/7/1978

July 29, 1978 217 Views 0 comment Print

Notification No. S.O.3147 (i) That the Endocrine Society of India, Chandigarh, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines). (ii) That the said Society will furnish the annual return of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose, by 30th April, each year.

Notification: S.O.3146 Date of Issue: 29/7/1978

July 29, 1978 447 Views 0 comment Print

Notification: S.O.3146 (i) That the Research Institute of Graphic Arts, New Delhi, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines). (ii) That the said institute will furnish the annual return of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose, by 30th April, each year.

Notification: S.O.2918 Date of Issue: 29/7/1978

July 29, 1978 289 Views 0 comment Print

Notification No. S.O.2918 Institution Premhari Research & Development Foundation, Bombay. This notification is effective for a period of 3 months from 1-4-1978 to 30-6-1978.

Notification: S.O.2917 Date of Issue: 29/7/1978

July 29, 1978 193 Views 0 comment Print

Notification No. S.O.2917 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, New Delhi, the pres

Notification: S.O.466 Date of Issue: 27/11/1978

July 27, 1978 319 Views 0 comment Print

Notification: S.O.466 Central Government hereby notifies National Centre for the Performing Arts for the purpose of the said section for and from the assessment year 1976-77.

Notification: S.O.464(E) Date of Issue: 24/7/1978

July 24, 1978 423 Views 0 comment Print

Notification No. S.O.464(E) 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 :—

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