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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


How to Set Off and Carry Forward Losses Under Income Tax Act?

Income Tax : Understand income tax rules for set-off and carry forward of losses, including inter-source, inter-head adjustments, and condition...

December 29, 2024 750 Views 0 comment Print

Binding Nature of Order of One Bench of Tribunal on Another: Judicial Discipline

Income Tax : This article explores the binding nature of tribunal orders, exceptions, and the role of larger benches in maintaining judicial co...

December 29, 2024 279 Views 0 comment Print

Disclosure of Foreign Assets & Income: Rules for Resident Indians

Income Tax : Understand the rules for disclosing foreign assets and income by resident Indians. Learn eligibility, required ITR schedules, due ...

December 28, 2024 1818 Views 0 comment Print

How to calculate and pay advance tax for corporates

Income Tax : Learn steps for calculating and paying advance tax for corporates, due dates for instalments and penalties for delayed payments u...

December 26, 2024 4260 Views 0 comment Print

Interim Relief for Claiming 87A Rebate AY 2024-25

Income Tax : Bombay HC grants interim relief allowing taxpayers to claim Section 87A rebate for AY 2024-25. Revised ITR deadline extended to 15...

December 25, 2024 32130 Views 0 comment Print


Latest News


Indexation Removal on LTCG Tax: Govt Clarifies Impact

Income Tax : Govt rationalizes long-term capital gains tax, reducing rates to 12.5% and simplifying holding periods. Relief provided for pre-Ju...

December 27, 2024 945 Views 0 comment Print

Income Tax Return Filers in India: Key Data & Trends

Income Tax : The Government's report on income tax return filings, including the percentage of filers, income categories, zero income declarati...

December 27, 2024 408 Views 0 comment Print

Income Tax Returns: 25% Rise Over Five Years

Income Tax : Analysis of a 25% rise in income tax returns filed over five years, with key government initiatives like pre-filled forms, updated...

December 27, 2024 123 Views 0 comment Print

PIL Challenges Constitutionality of TDS System Under Article 32

Income Tax : The PIL challenges the TDS system's constitutionality, citing undue burdens, forced labor, and Article 14, 19, and 21 violations, ...

December 27, 2024 7353 Views 2 comments Print

Representation for Relaxation in VSV Scheme II

Income Tax : Exploring the need for relaxation in Vivad Se Vishwas II Scheme, 2024, addressing issues of pending appeals filed after July 23, 2...

December 21, 2024 5418 Views 1 comment Print


Latest Judiciary


Ex-Parte Assessment: ITAT Condones 186-Day Delay, Remands Case for Reassessment

Income Tax : ITAT Kolkata condones 186-day delay, remands Umang Webtech Private Limited's case to AO for fresh examination due to ex-parte asse...

December 29, 2024 9 Views 0 comment Print

ITAT Remands Case for Reconsidering Sikkimese Exemption Claim

Income Tax : ITAT Kolkata remands Usha Dhamala's case to the AO for reassessment of her tax exemption claim under Section 10(26AAA) for Sikkime...

December 29, 2024 12 Views 0 comment Print

ITAT Kolkata Deletes ₹4.82 Cr Addition as Cash Credit for accommodation entries

Income Tax : ITAT Kolkata rules in favor of Goldman Stocks, deleting ₹4.82 Cr addition as unexplained cash credit, citing genuine sales trans...

December 29, 2024 18 Views 0 comment Print

Assessment Based on Jurisdictional HC Decision at Relevant Time Not Prejudicial to Revenue’s Interest

Income Tax : ITAT Kolkata quashes PCIT’s order under Section 263 of the Income Tax Act, citing precedents from the Calcutta High Court and Su...

December 29, 2024 15 Views 0 comment Print

NFAC Failed to Consider Submissions: ITAT Remands Matter to AO for Fresh Assessment

Income Tax : ITAT Hyderabad remands Sunil Jayantilal Sachdev case for fresh assessment after NFAC confirmed AO's action without considering tax...

December 29, 2024 15 Views 0 comment Print


Latest Notifications


CAG Report 2024: Direct Taxes and Audit Findings

Income Tax : The CAG's 2024 report on direct taxes highlights tax issues, recovery, and errors in corporate and income tax assessments, with co...

December 27, 2024 381 Views 0 comment Print

Central Silk Board Tax Section 10(46) Income Tax Exemption for 2024-2029

Income Tax : The Central Silk Board gains tax exemption for specified income from grants, royalties, fees, and interest, effective for 2024-202...

December 25, 2024 192 Views 0 comment Print

No TDS on Payments to Credit Guarantee Fund for MSMEs

Income Tax : Govt. issues notification exempting TDS on payments to Credit Guarantee Fund Trust for Micro and Small Enterprises under Income-ta...

December 20, 2024 300 Views 0 comment Print

Guidance Note 2/2024 on Direct Tax Vivad se Vishwas Scheme, 2024

Income Tax : Circular No. 19/2024 offers clarifications on the eligibility and settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024....

December 17, 2024 4002 Views 0 comment Print

Amendment to Income Tax Notification No. 44/2020

Income Tax : CBDT amends Notification No. 44/2020 under Section 10(23FE) of Income-tax Act. Changes take effect from publication in the Officia...

December 12, 2024 1764 Views 0 comment Print


Notification: S.O.2598 Section(s) Referred: 88 ,88(6) Statute: INCOME TAX Date of Issue: 9/8/1965

August 9, 1965 1086 Views 0 comment Print

In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following temple as a place of public

Notification: S.O.2597 Date of Issue: 7/8/1965

August 7, 1965 337 Views 0 comment Print

In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Kasiviswanat

Notification: S.O.2353 Date of Issue: 19/7/1965

July 19, 1965 337 Views 0 comment Print

Notification: S.O.2353 Central Government hereby notifies the following temple as a place of public worship of renown throughout the State of Mysore for the purposes of the said section – Shri Dattatreya Temple, Ghangapur, District Gulbarga, Mysore

Notification: S.O.2215 Date of Issue: 7/7/1965

July 7, 1965 457 Views 0 comment Print

In the notification of the Central Board of Direct Taxes No. S. O. 3660 dated the 13th October, 1964, published at pages 979 to 988 in Part II—Section 3—sub-section (ii) of the Gazette of India, Extraordinary, dated the 13th October, 1964.

Notification: S.O.2214 Date of Issue: 7/7/1965

July 7, 1965 325 Views 0 comment Print

In exercise of the powers conferred by clause (d) of sub-section (5) of section 2 of the Finance Act, 1965 (10 of 1965), the Central Board of Direct Taxes hereby makes the following rules, namely :—-

Notification: S.O.2153 Date of Issue: 2/7/1965

July 2, 1965 568 Views 0 comment Print

Notification: S.O.2153 This notification contains Amendment to Income-tax Rules carried out on 2-7-1965 not reproduced here as it is already contained in the body of the Income-tax Rules itself.

Notification: S.O.2161 Date of Issue: 30/6/1965

June 30, 1965 258 Views 0 comment Print

Notification: S.O.2161 Sardar Patel Institute of Social and Economic Research, Ahmedabad -It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research

Notification: S.O.1975 Date of Issue: 26/6/1965

June 26, 1965 423 Views 0 comment Print

In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shri Bhramaramba Malikharjunaswami

Notification: S.O.2048 Date of Issue: 23/6/1965

June 23, 1965 477 Views 0 comment Print

In exercise of the powers conferred by sub-section (2) of section 138 of the Income-tax Act, 1961 (43 of 1961), (hereinafter referred to as the Act), the Central Government, having regard to the practices and usages customary among banking companies and to other relevant factors, hereby directs that no public servant shall—

Notification: S.O.1974 Date of Issue: 19/6/1965

June 19, 1965 411 Views 0 comment Print

In exercise of the powers conferred by sub-section of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following temples, mosques, gurdwaras and c

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