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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


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 258 Views 0 comment Print

Unlocking Mysteries of Gross Total Income and Income Tax Deductions

Income Tax : The Indian taxation framework, as delineated by the Income Tax Act of 1961, may initially seem daunting. Nevertheless, acquiring a...

March 13, 2025 417 Views 0 comment Print

New Tax Slabs FY 2025-26: Revised Tax Rates & Key Changes

Income Tax : Check the updated tax slabs for FY 2025-26. Know the new tax rates, rebate changes, exemption limits, and comparison with the old ...

March 13, 2025 651 Views 0 comment Print

New Tax Regime vs. Old Tax Regime: Which One is Better for You?

Income Tax : Compare India's old and new tax regimes. Learn about tax slabs, deductions, and which option suits your income and investment habi...

March 13, 2025 174 Views 0 comment Print

Understanding Concept of Tax Deducted at Source (TDS) in India

Income Tax : Learn about Tax Deducted at Source (TDS) in India, its applicability, key sections, deduction process, penalties, and recent updat...

March 13, 2025 180 Views 0 comment Print


Latest News


Pendency of 5,49,042 Appeals Before CIT(A)/NFAC: Request for Early Disposal

Income Tax : AIFTP urges swift disposal of 5,49,042 income-tax appeals pending with NFAC/CIT(A), some for over 5 years, to alleviate taxpayers'...

March 11, 2025 5514 Views 0 comment Print

Updated List of 30 Banks For Income Tax Payments on e-Filing Portal

Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...

March 7, 2025 40626 Views 4 comments Print

Advance Tax Installments/Payments of taxes

Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...

March 5, 2025 6666 Views 0 comment Print

Include ‘Cost Accountant’ in definition of ‘Accountant’ under Income Tax Bill 2025: ICMAI

Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...

February 21, 2025 10680 Views 0 comment Print

Key Highlights of Finance Bill 2025: Income Tax Changes

Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...

February 19, 2025 12129 Views 0 comment Print


Latest Judiciary


MMR not automatically include a surcharge unless highest income slab requirement is met

Income Tax : ITAT Hyderabad rules on Shriram Trust's surcharge dispute, stating that surcharge applies only if income exceeds ₹50 lakh. Read ...

March 13, 2025 48 Views 0 comment Print

Surcharge not be leviable on Trust Income when income was below limit

Income Tax : ITAT Mumbai deletes surcharge on Lintas Employees Trust, ruling that surcharge applies only if income exceeds ₹50 lakh. Read cas...

March 13, 2025 42 Views 0 comment Print

Surcharge on Trusts Not Automatic; Applies Only if Income Exceeds Prescribed Limit

Income Tax : ITAT Mumbai ruled in favor of Ujjwal Business Trust, deleting surcharge levied by CPC on income below ₹50 lakh. Read the case su...

March 13, 2025 51 Views 0 comment Print

AO’s proper inquiry on ESOP expenses: ITAT quashes revision order

Income Tax : Revision order issued by PCIT was quashed against Make My Trip (India) Private Limited as AO had conducted a proper inquiry before...

March 13, 2025 330 Views 0 comment Print

Receipt from parking facilities treated as business income: ITAT Mumbai

Income Tax : ITAT Mumbai held that the receipt from parking facilities is to be treated as business income instead of income from other sources...

March 13, 2025 54 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 729 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 606 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 600 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 309 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 9615 Views 0 comment Print


Notification: S.O.3998 Date of Issue: 10/10/1977

October 10, 1977 346 Views 0 comment Print

In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L, and clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), and clause (xxiv) of sub-section (1) of section 5 of the Wealth-tax Act, 1957 (27 of 1957), the Central Government hereby specifies the debentures issued by the State Electricity Boards, the Agro Industries Corporations, Housing Boards (for rural housing), Co-operative Processing and Marketing Societies and other approved State sponsored institutions between 1st January, 1977, and 31st December, 1981, in pursuance of any scheme for raising resources in rual arreas, for the purpose of the said clauses.

Notification: S.O.691(E) Date of Issue: 29/9/1977

September 29, 1977 535 Views 0 comment Print

Agra, Allahabad, Amritsar, Bhopal, Areas up to a distance of 10 kilometres Cochin, Coimbatore, Dhanbad, in all directions from the municipal Gwalior, Indore, Jabalpur, Jaipur, limits or, as the case may be, Jamshedpur, Ludhiana, Madurai, cantonment limits. Patna, Salem, Sholapur, Srinagar, Surat, Tiruchirapalli, Trivandrum, Varanasi (Banaras) and Vadodara (Baroda).

Notification: S.O.238 Date of Issue: 24/9/1977

September 24, 1977 358 Views 0 comment Print

It is hereby notified for general information that the institution mentioned below has been approved by the Central Board of Direct Taxes for the purposes of clause (a) of sub-section (2) of section 35D of the Income-tax Act, 1961, in the field of Technological consultancy and Management consultancy only.

Notification: S.O.47 Date of Issue: 24/9/1977

September 24, 1977 262 Views 0 comment Print

That the Indian National Theatre, Bombay, shall send an annual report to the Indian Council of Social Science Research, New Delhi, showing the funds collected under the exemption and the manner in which the funds were utilised.

Notification: S.O.294 Date of Issue: 24/9/1977

September 24, 1977 319 Views 0 comment Print

that the said Association will furnish the annual return of its scientific research activities to the prescribed authority by 30th April each year for every financial year in such forms as may be laid down and intimated to them for this purpose.

Notification: S.O.677(E) Date of Issue: 22/9/1977

September 22, 1977 403 Views 0 comment Print

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely.

Notification: S.O.3674 Date of Issue: 20/9/1977

September 20, 1977 175 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 Srimanmaharaja Niranjana Jagadguru Sri Mallikarjuna Murugharajendra Mahaswaminam for the purpose of the said section for and from the assessment year(s) 1972-73.

Notification: S.O.3890 Date of Issue: 20/9/1977

September 20, 1977 292 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 Ekambaranathar Temple, Kancheepuram–3, for the purpose of the said section for and from the assessment year(s) 1971-72.

Notification: S.O.3997 Date of Issue: 20/9/1977

September 20, 1977 373 Views 0 comment Print

That the said Centre 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 initimated to them for this purpose, by 30th April, each year.

Notification: S.O.3472 Date of Issue: 20/9/1977

September 20, 1977 229 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 Naval Officers’ Wives Association, New Delhi, for the purpose of the said section for and from the assessment year(s) 1975-76.

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