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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


Lower Deduction Certificate for TDS and TCS as per Income Tax Act, 1961

Income Tax : Learn about the Lower Deduction Certificate under Sections 197 & 206C(9) of the Income Tax Act. Understand eligibility, applicatio...

March 23, 2025 117 Views 0 comment Print

Taxation of Minor’s Income Under Income Tax Act

Income Tax : Income of minors is clubbed with parents' income unless earned through personal skill or manual work. Tax planning strategies can ...

March 23, 2025 75 Views 0 comment Print

Mistakes to Avoid While Paying TDS on Rent for FY 2024-25

Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...

March 21, 2025 1806 Views 1 comment Print

Bombay HC Cracks Down on Tax Evasion Scheme in Buniyad Chemicals Case

Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...

March 20, 2025 4179 Views 0 comment Print

New Income Tax Bill, 2025 – How one should Read & Interpret a Law

Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...

March 20, 2025 993 Views 0 comment Print


Latest News


Restrictions pertaining to filing of Correction TDS/TCS Statements

Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...

March 23, 2025 81 Views 0 comment Print

CBDT Seeks Input on Draft Income Tax Rules & Forms

Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...

March 19, 2025 387 Views 0 comment Print

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 669 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 1098 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 123 Views 0 comment Print


Latest Judiciary


Filing Form 10B Not Mandatory to claim Section 11/12 Exemption: ITAT Pune

Income Tax : ITAT Pune rules Form 10B filing not mandatory for Section 11/12 exemption claims, citing Gujarat High Court precedent, remands cas...

March 23, 2025 57 Views 0 comment Print

Patent drafting and translation expenses are revenue expenditure: ITAT Pune

Income Tax : ITAT Pune allows patent drafting & translation expenses as revenue expenditure u/s 37, overturning lower authority's capital expen...

March 23, 2025 45 Views 0 comment Print

Section 263 Revision for Non-Initiation of Penalty Proceedings Erroneous: ITAT Mumbai

Income Tax : ITAT Mumbai rules PCIT's revision under Section 263 as erroneous. The tribunal holds non-initiation of penalty proceedings cannot ...

March 23, 2025 57 Views 0 comment Print

Assessee Proving Three Ingredients U/S 68 Shifts Burden to AO: ITAT Pune

Income Tax : DCIT Vs Meridian Chem Bond Private Limited (ITAT Pune) Does Proving the Three Main Ingredients by Assessee U/S 68 Shift the Burden...

March 23, 2025 87 Views 0 comment Print

Sending Notices Merely by Mail is Denial of Hearing Opportunity: ITAT Bangalore

Income Tax : ITAT Bangalore sets aside ex-parte order against senior citizen, ruling that email-only notices denied a fair hearing. Case remand...

March 23, 2025 84 Views 0 comment Print


Latest Notifications


High-Risk e-Verification Cases: Instructions for AOs

Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...

March 20, 2025 687 Views 0 comment Print

CBDT allows data sharing with Delhi’s IT Dept. for social welfare scheme identification

Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...

March 19, 2025 120 Views 0 comment Print

CBDT FAQs on Revised Guidelines for Compounding Offences

Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...

March 18, 2025 5175 Views 0 comment Print

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 1155 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 759 Views 0 comment Print


Notification No S.O.2947 Date of Issue: 8/7/1977

July 8, 1977 298 Views 0 comment Print

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

Notification No. S.O.3386 Date of Issue: 7/7/1977

July 7, 1977 208 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 Azhagia Nambi Rayar Temple at Thirukkurungudi, Nanguneri Taluk, Tirunelveli District, Tamil Nadu to be a place of public worship of renown throught the State of Tamil Nadu for the purposes of the said section.

Notification No. S.O.3064 Date of Issue: 7/7/1977

July 7, 1977 289 Views 0 comment Print

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

Notification No. S.O.290 Date of Issue: 6/7/1977

July 6, 1977 334 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 Shree Vaikunth Nath Devasthan Trust, Calcutta, for the purpose of the said section for and from the assessment year 1975-76.

Notification No. S.O.492 Date of Issue: 30/6/1977

June 30, 1977 268 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 ” Shree Jairambhai Dayabhai Chauhan (Bytco) Charitable Trust ” for the purpose of the said section for and from the assessment year 1977-78.

Notification No. S.O.3457, Date of Issue: 30/6/1977

June 30, 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 National Sponsorship Council, Bombay, for the purpose of the said section for and from the assessment year 1976-77.

Notification No. S.O.3456 Date of Issue: 30/6/1977

June 30, 1977 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 Annie Besant Trust, Madras, for the purpose of the said section for and from the assessment year 1978-79.

Notification No. S.O.3455 Date of Issue: 30/6/1977

June 30, 1977 418 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 Theosophical Society, Adyar, for the purpose of the said section for and from the assessment year 1977-78.

Notification No. S.O.3454 Date of Issue: 30/6/1977

June 30, 1977 295 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 Indian Section, The Theosophical Society, Varanasi, for the purpose of the said section for and from the assessment year 1976-77.

Circular No. 225 -Income Tax dated 30-6-1977

June 30, 1977 400 Views 0 comment Print

Circular No. 225-Income Tax . I am directed to invite a reference to this Ministry’s Circu­lar No. 214 of even number dated 30-3-1977 on the subject of deduction of income-tax from salaries paid during the year 1977-78. The Finance (No. 2) Bill, 1977 introduced in the Parliament on June 17, 1977, inter alia, prescribes the rates at which income-tax has to be deducted during the financial year 1977-78 from income

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