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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 318 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 1008 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 1512 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 825 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 987 Views 0 comment Print


Latest News


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 231 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 231 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

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 99 Views 0 comment Print


Latest Judiciary


Interest paid on late payment of TDS was not allowable as business deduction and no addition in search proceedings in absence of incriminating material

Income Tax : Interest paid on late payment of TDS was not an expenditure wholly and exclusively incurred for the purpose of business and furthe...

March 17, 2025 54 Views 0 comment Print

Section 143(2) Assessment bars Section 143(1) Summary processing: ITAT Delhi

Income Tax : ITAT Delhi allows India Thermit Corporation’s appeal, ruling that scrutiny assessment under Section 143(2) bars summary processi...

March 17, 2025 198 Views 0 comment Print

Land sale by real estate developer was correctly treated as capital gain not as business income

Income Tax : Assessee had consistently shown the plots as investments in earlier years and that the nature of income could not be determined so...

March 17, 2025 93 Views 0 comment Print

No addition u/s 68 for unsecured loans from genuine lenders

Income Tax : In pursuance of search, notice u/s.153A was issued and in response, assessee also filed its return of income. AO noted that assess...

March 17, 2025 87 Views 0 comment Print

No addition u/s 69C for undisclosed transactions solely on basis of WhatsApp Messages

Income Tax : Assessee had strongly contended that he was unaware of who Shri Kaustubh Latke and Shri Shailesh Patil are, since they were not co...

March 17, 2025 69 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 1047 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 624 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 9690 Views 0 comment Print


Notification No. S.O.1799 – Income Tax Date 14/5/1981

May 14, 1981 364 Views 0 comment Print

Notification No. S.O.1799 – 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 Srirangam Srimad Andavan Periasramam, Srirangam for the purpose of the said section for the period covered by the assessment year 1981-82

Notification No. S.O.1798 – Income Tax Date 14/5/1981

May 14, 1981 376 Views 0 comment Print

Notification No. S.O.1798 – 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 Rama Krishna Tapovanam, Thirupparaitturai for the purpose of the said section for the period covered by the assessment years 1981-82 to 1982-83.

Circular No. 303 -Income tax dated 12-5-1981

May 12, 1981 423 Views 0 comment Print

Circular No. 303 -Income tax I am directed to invite a reference to the Board’s Circular No. 303 [F. No. 275/6/81-IT(B)], dated 12-5-1981, wherein you were requested to issue necessary instructions for making deduc­tion of income-tax at source from “winnings from lottery or crossword puzzle” at the rates given in Part II of the First Schedule to the Finance Bill, 1981

Notification No. S.O.2560 – Income Tax Date 12/5/1981

May 12, 1981 328 Views 0 comment Print

Notification No. S.O.2560 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, 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(ii) of the Income-tax Rules, 1962, under the

Notification No. S.O.2520 – Income Tax Date 12/5/1981

May 12, 1981 388 Views 0 comment Print

Notification No. S.O.2520 – Income Tax 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 sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules

Notification No. S.O.2431- Income Tax Date 12/5/1981

May 12, 1981 325 Views 0 comment Print

Notification No. S.O.2431- Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the following conditions

Notification No. S.O.1891 – Income Tax Date 12/5/1981

May 12, 1981 328 Views 0 comment Print

Notification No. S.O.1891 – 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 Arulmigu Kondathukaliamman Temple, Pariyur, Gobichettipalayam (Tamil Nadu), to be a place of public worship of renown throughout the State of Tamil Nadu.

Notification No. S.O.1890 – Income Tax Date 12/5/1981

May 12, 1981 310 Views 0 comment Print

Notification No. S.O.1890 – Income Tax In continuation of this Department’s Notification No. 2833, dated 30-5-1979 it is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Department of Science & 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(iv) of the Income-tax Rules, 1962, under the category of

Notification No. S.O.2519 – Income Tax Date 4/5/1981

May 4, 1981 370 Views 0 comment Print

Notification No. S.O.2519 – Income Tax 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 sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules

Circular No. 302 -Income Tax dated 2-5-1981

May 2, 1981 567 Views 0 comment Print

Circular No. 302 -Income Tax The Board have had occasion to consider the question of taxability or otherwise of gifts by way of remittance of foreign currency or other foreign exchange made by non-resident donors to residents in India

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