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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


Enhanced Limits for Partners Remuneration: Section 40(b) & 194T

Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...

February 11, 2025 759 Views 0 comment Print

2 Residential Houses: Income Tax issue simplified in budget 2025-26?

Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...

February 10, 2025 1269 Views 0 comment Print

Computation of Total income & Tax Liability as per Income Tax Act 1961

Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...

February 9, 2025 3438 Views 0 comment Print

Income Tax Return Filing Guide for Proprietors in the USA

Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...

February 9, 2025 843 Views 0 comment Print

Cost Inflation Index Update FY 2024-25: Key Changes Explained

Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...

February 9, 2025 2271 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 10236 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 12585 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 12036 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 39 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 60 Views 0 comment Print


Latest Judiciary


Section 68 Limited to Current Year Cash Credits: ₹2 Cr Addition Deleted

Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...

February 11, 2025 15 Views 0 comment Print

Senior Citizen’s Appeal Dismissed Over Advance Tax Non-Payment Restored to CIT(A) by ITAT

Income Tax : ITAT Pune remands appeal for reconsideration, citing leniency for a senior citizen taxpayer's advance tax shortfall. Case to be de...

February 11, 2025 18 Views 0 comment Print

Bogus Purchases Addition: ITAT Remands Case to CIT(A) Over Ex Parte Dismissal

Income Tax : ITAT Ahmedabad remands Hari Krushna Machintech Pvt Ltd's appeals to CIT(A) for reassessment. Issues include ex-parte dismissal and...

February 11, 2025 21 Views 0 comment Print

Alleged Bogus LTCG from penny stocks: ITAT Kolkata invalidates reassessment due to lack of tangible evidence

Income Tax : ITAT Kolkata invalidates reassessment in Pradip Kumar Jajodia HUF case, citing lack of tangible evidence for alleged bogus LTCG on...

February 11, 2025 18 Views 0 comment Print

ITAT Delhi Quashes Search Assessment due to Consolidated Section 153D Approval

Income Tax : ITAT Delhi sets aside search assessment in Amit Gupta & Sons HUF case, citing lack of proper approval under Section 153D of the In...

February 11, 2025 33 Views 0 comment Print


Latest Notifications


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 78 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 201 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 240 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 2574 Views 0 comment Print

Finance Bill, 2025 – Budget 2025 (Read Full)

Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...

February 1, 2025 5280 Views 0 comment Print


Notification No. S.O.809 Date of Issue: 28/1/1977

January 28, 1977 508 Views 0 comment Print

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 purpose 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.2089, Date of Issue: 28/1/1977

January 28, 1977 379 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

Notification No. S.O.2590, Date of Issue: 28/1/1977

January 28, 1977 412 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 amends the Notification No. 1477 dated 13-9-76 as below.

Notification No. S.O.1987, Date of Issue: 25/1/1977

January 25, 1977 298 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.

Notification No. S.O.808-1, Date of Issue: 25/1/1977

January 25, 1977 298 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.

Notification No. S.O.1280, Date of Issue: 24/1/1977

January 24, 1977 313 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.

Notification No. S.O.1986, Date of Issue: 24/1/1977

January 24, 1977 268 Views 0 comment Print

This notification contains Corrigendum to Income-tax Act 1961 carried out on January 24 1977 not reproduced here as it is already contained in the body of the Act itself.

Notification No. S.O.2088, Date of Issue: 24/1/1977

January 24, 1977 382 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.

Notification No. S.O.1063, Date of Issue: 22/1/1977

January 22, 1977 373 Views 0 comment Print

It is hereby notified for general information that the 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.

Notification No. S.O.738, Date of Issue: 18/1/1977

January 18, 1977 295 Views 0 comment Print

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.

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