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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


Key Tax Tasks to Complete Before March 31, 2025

Income Tax : Ensure tax compliance before March 31, 2025. Key tasks include filing returns, verifying TDS, updating accounts, and making necess...

March 18, 2025 774 Views 0 comment Print

Key Income Tax Changes for Partnership Firms Starting April 1, 2025

Income Tax : Partnership firms must comply with new tax rules from April 1, 2025. Changes include higher partner remuneration limits and mandat...

March 18, 2025 1194 Views 0 comment Print

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 2748 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 1128 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 1851 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 255 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 402 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 90 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 264 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 78 Views 0 comment Print


Latest Judiciary


ITAT Ahmedabad Allows Deduction of GST Interest & Late Fees

Income Tax : ITAT Ahmedabad upholds deduction of GST interest & late fees, ruling they are compensatory, not penal. Read the key observations &...

March 18, 2025 12 Views 0 comment Print

Reassessment Beyond 10-Year Limit: HC Clarifies Scope of Finance Act, 2017 Amendments

Income Tax : Madras High Court rules in A.R. Safiullah Vs ACIT, quashing a tax notice under Section 153A for AY 2009-10, citing statutory limit...

March 18, 2025 324 Views 0 comment Print

Section 271(1)(c) Penalty Invalid if AO Omits Specific Reason for Imposition

Income Tax : ITAT Visakhapatnam sets aside penalty on Malla Appalaraju under Section 271(1)(c) due to a defective notice, ruling it void ab ini...

March 18, 2025 69 Views 0 comment Print

Word Annual Denotes 12 Months: ITAT Clarifies Rule 8D(2)(ii) Calculation Methodology

Income Tax : ITAT Mumbai rules on Radiant Life Care's appeal against disallowance under Section 14A of the Income Tax Act. Key interpretation o...

March 18, 2025 84 Views 0 comment Print

ITAT Mumbai Allows S. 80IB(10) Deduction for SRA Project Approved Before April 2004

Income Tax : ITAT Mumbai rules CBDT notification cannot deny S. 80IB(10) deduction to SRA projects approved before 01/04/2004, citing legislati...

March 18, 2025 36 Views 0 comment Print


Latest Notifications


CBDT FAQs on Revised Guidelines for Compounding Offences

Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...

March 18, 2025 1191 Views 0 comment Print

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 1071 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 663 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 642 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 324 Views 0 comment Print


Notification No. S.O.832(E)-Income Tax, Dated: 01.10.1980

October 1, 1980 247 Views 0 comment Print

This Notification contains Amendment to Income-tax (Seventh Amendment) Rules, 1980 carried out on 1st October, 1980 not reproduced here as it is already contained in the body of the Rules itself

Notification No. S.O.2940-Income Tax, Dated: 29.09.1980

September 29, 1980 241 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 The Lakshmanjhula Dispensary and Rehabilitation Centre, Tapovan, for the purpose of the said section for the assessment year(s) 1978-79 to 1981-82.

Notification No. S.O.3119-Income Tax, Dated: 29.09.1980

September 29, 1980 271 Views 0 comment Print

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 Shree Rama Vaikunth Temple, Pushkar, for the purpose of the said section for the assessment year(s) 1978-79 to 1981-82.

Notification No. S.O.3395-Income Tax, Dated: 29.09.1980

September 29, 1980 328 Views 0 comment Print

That the Kishore Bharati shall send an annual report and audited statement of accounts, regularly to the Indian Council of Social Science Research, New Delhi, showing the funds collected under this exemption and the manner in which these funds are utilised.

Notification No. S.O.265-Income Tax, Dated: 29.09.1980

September 29, 1980 394 Views 0 comment Print

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 The Roman Catholic Diocese of Calicut for the purpose of the said section for the assessment year(s) 1980-81 and 1981-82.

Circular No. 283-Income Tax dated 25-9-1980

September 25, 1980 366 Views 0 comment Print

Circular No. 283-Income Tax I am directed to invite your attention to the Board’s Circular No. 278 [F. No. 275/12/80-IT(B)], dated 26-8-1980 regarding deduction of income-tax from salaries during the financial year 1980-81.

Notification No. S.O.3027-Income Tax, Dated: 25.09.1980

September 25, 1980 277 Views 0 comment Print

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 Kapaleeswarar Temple, Mylapore, Madras, to be a place of public worship of renown throughout the State of Tamil Nadu for the purpose of the said section.

Notification No. S.O.3392-Income Tax, Dated: 25.09.1980

September 25, 1980 238 Views 0 comment Print

That the People’s Institute for Development and Training shall send an annual report and statement of accounts regularly to the Indian Council of Social Science Research as well as to the concerned Commissioner of Income-tax, showing the funds collected under this exemption and the manner in which these funds are utilized.

Circular No. 281-Income Tax dated 22-9-1980

September 22, 1980 1368 Views 0 comment Print

Circular No. 281-Income Tax The rates of income-tax for the assessment year 1980-81 in the case of all categories of assessees (corporate as well as non-corporate) are specified in Part I of the First Schedule to the Finance Act. These rates are the same as those specified in Part III of the First Schedule to the Finance Act, 1979 for the purposes of computation of �advance tax�, deduction of tax at source

Circular No. 282-Income Tax dated 22-9-1980

September 22, 1980 441 Views 0 comment Print

Circular : No. 282-Income Tax Section 44D, which was inserted with effect from June 1, 1976 by the Finance Act, 1976, provides that the deductions admissible in computing the income of a foreign company by way of royalty or fees for technical services received in pursuance of agreements made before April 1, 1976 shall not exceed 20 per cent of the gross amount

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