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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.1282-Income Tax, Dated: 29.01.1980

January 29, 1980 334 Views 0 comment Print

This notification contains Corrigendum to Income-tax Act carried out on 29th January, 1980 not reproduced here as it is already contained in the body of the Act itself.

Notification No. S.O.1411-Income Tax, Dated: 29.01.1980

January 29, 1980 328 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 following funds for the purpose of the said section for the assessment year(s) as mentioned below.

Notification No. S.O.1412-Income Tax, Dated: 29.01.1980

January 29, 1980 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 Services Welfare Fund, New Delhi, for the purpose of the said section for the assessment year(s) 1978-79, 1980-80 and 1980-81.

Notification No. S.O.1649-Income Tax, Dated: 29.01.1980

January 29, 1980 214 Views 0 comment Print

The Bharatiya Agro-Industries Foundation, Uruli Kanchan, District Poona, stands approved under section 35(1)(ii) of the Income-tax Act, 1961, vide Ministry of Finance Notification No. 88 (F. No. 11/15/69-IIA. II) dated 23-3-1971.

Notification No. S.O.1520-Income Tax, Dated: 29.01.1980

January 29, 1980 289 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 Sri Puttige Mutt, Udupi, for the purpose of the said section for and from the assessment year(s) 1962-63.

Notification No. S.O.711-Income Tax, Dated: 29.01.1980

January 29, 1980 316 Views 0 comment Print

That the institute will furnish annual returns of its scientific research activities to the Council for each year 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.712-Income Tax, Dated: 29.01.1980

January 29, 1980 280 Views 0 comment Print

It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Agricultural Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.

Notification No. S.O.709-Income Tax, Dated: 21.01.1980

January 21, 1980 256 Views 0 comment Print

That the society will furnish annual returns of its scientific research activities to the Council for each year 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.710-Income Tax, Dated: 21.01.1980

January 21, 1980 226 Views 0 comment Print

It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Agricultural Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.

Notification No. S.O.40(E)-Income Tax, Dated: 19.01.1980

January 19, 1980 178 Views 0 comment Print

This notification contains Amendment to Income-tax Rules, carried out on 19th January, 1980, not reproduced here as it is already contained in the body of the Rules itself.

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