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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 123 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 159 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 2004 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 1083 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 1716 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 117 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 336 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 78 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 252 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 75 Views 0 comment Print


Latest Judiciary


No Capital Gains for Joint Owner Without Beneficial Ownership: ITAT Mumbai

Income Tax : N...

March 18, 2025 36 Views 0 comment Print

Delhi HC dismisses writ against addition share application money as sham transaction

Income Tax : The Assessee is aggrieved by the information received pursuant to application under Right to Information Act, 2015, whereby the As...

March 17, 2025 48 Views 0 comment Print

Revisionary action u/s. 263 based on factual misconception bad-in-law

Income Tax : ITAT Mumbai held that exercising revisionary jurisdiction under section 263 of the Income Tax Act by PCIT on the basis of factual ...

March 17, 2025 57 Views 0 comment Print

Revisionary jurisdiction u/s. 263 not invocable as twin pre-conditions not satisfied

Income Tax : ITAT Ahmedabad held that assessment order passed u/s. 143(3) is neither erroneous nor prejudicial to the interest of revenue. Henc...

March 17, 2025 48 Views 0 comment Print

Voluntary Addition During Hearing is not Revising of Settlement Application: Gujarat HC

Income Tax : During pendency of the assessment proceedings, respondent No.1 filed application u/s. 245C(1) before the Income Tax Settlement Com...

March 17, 2025 42 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 1062 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 639 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 321 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 9705 Views 0 comment Print


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

Circular No. 280-Income Tax dated 20-9-1980

September 20, 1980 513 Views 0 comment Print

Circular: No. 280-Income Tax Section 194BB enjoins on any person, being a book-maker or a person to whom a licence has been granted by the Government under any law for the time being in force for horse racing in any race course and who is responsible for paying to any person any income by way of winnings from any horse race in an amount exceeding Rs. 2,500, to deduct income-tax thereon, at the rates in force, at the time of payment thereof.

Notification No. S.O.3030-Income Tax, Dated: 20.09.1980

September 20, 1980 280 Views 0 comment Print

In exercise of the powers conferred by sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, for the purposes of the said sub-clause, every officer of or above the rank of a Superintendent of Police serving in the Vigilance Bureau created by the Punjab Government under Notification No. 7823-3H-68/7966 dated 12-8-1968 read with Order No. 4019-V(2)-72 dated 14-8-1972 of the Government of Punjab.

Notification No. S.O.2939-Income Tax, Dated: 18.09.1980

September 18, 1980 304 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 Little Sisters of the Poor, Madras for the purpose of the said section for the assessment years 1978-79 to 1980-81.

Notification No. S.O.3130-Income Tax, Dated: 17.09.1980

September 17, 1980 205 Views 0 comment Print

That the said Centre will furnish annual returns 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 the 30th April, each year.

Notification No. S.O.3131-Income Tax, Dated: 17.09.1980

September 17, 1980 238 Views 0 comment Print

That the Institute will furnish annual returns of its scientific research activities to the Council by 31st May each year at the latest in such form as may be laid down and intimated to them for this purpose.

Notification No. S.O.3269-Income Tax, Dated: 17.09.1980

September 17, 1980 199 Views 0 comment Print

That the said University 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.

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