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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


Legal and Tax Concept Differentiators

Income Tax : Understand key differences between legal and tax terms like Act vs Rule, Exemption vs Deduction, TDS vs TCS, and more for better c...

April 25, 2025 249 Views 0 comment Print

ITAT Mumbai deletes ₹103 Crore Addition for Auto Driver

Income Tax : ITAT Mumbai ruled in favor of an auto-rickshaw driver, rejecting a ₹103 Crore income addition, citing insufficient investigation...

April 25, 2025 5346 Views 0 comment Print

Luxury Now Comes With Tax! All You Need to Know About 1% TCS on Luxury Goods

Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...

April 25, 2025 447 Views 0 comment Print

TCS on Luxury Goods: New Tax Rules in India

Income Tax : Learn about India's TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, a...

April 24, 2025 3876 Views 0 comment Print

FAQs on TCS on Luxury Goods: New Rules & Items (₹10 Lakh+)

Income Tax : Learn about the latest changes in TCS under Section 206C(1F) for luxury goods exceeding ₹10 lakh. Find the list of notified item...

April 24, 2025 6792 Views 0 comment Print


Latest News


CBDT Notification 38/2025: Settlement Expense Non-Deductibility – FAQs

Income Tax : Understand CBDT's Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violat...

April 25, 2025 3768 Views 0 comment Print

Inordinate Delay in Disposal of Appeals by National Faceless Appeal Centre

Income Tax : Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpa...

April 24, 2025 447 Views 0 comment Print

ITAT enables e-filing and virtual hearings

Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...

April 5, 2025 2523 Views 1 comment Print

Exemption From Income Tax on Annual Income Up To ₹12 Lakh

Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...

April 3, 2025 2160 Views 1 comment Print

Corporate Tax Concessions in India: Key Deductions & Impact

Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...

April 3, 2025 366 Views 0 comment Print


Latest Judiciary


Providing unreasonably short time of 6 days against mandate of law: ITAT Raipur

Income Tax : ITAT Raipur held that providing unreasonably short period of time of six days for furnishing reply vide notice issued u/s. 148A(b)...

April 26, 2025 54 Views 0 comment Print

LTCG Exemption Cannot Be Denied on Mere Probabilities Without Legal Evidence

Income Tax : AO could not reject the LTCG Exemption claim based on mere surrounding circumstances or probabilities without presenting any legal...

April 25, 2025 921 Views 0 comment Print

LTCG Addition by AO Based on Suspicion, Unsupported by Evidence, Deleted by ITAT Jaipur

Income Tax : ITAT Jaipur accepts LTCG claim of Vivek Agarwal; rejects AO's addition under Section 68, citing adequate evidence of share transac...

April 25, 2025 303 Views 0 comment Print

Genuine LTCG Exemption Cannot Be Denied Based on Suspicion or Conjectures

Income Tax : ITAT Kolkata deletes addition under Section 68, accepting LTCG on share sale by Kiran Kothari as genuine, rejecting AO's reliance ...

April 25, 2025 78 Views 0 comment Print

Software Development is Production; Investment & Addl. Depreciation Allowed

Income Tax : ITAT Bangalore rules software development as "production", allowing Bosch's claim under Sections 32(1)(iia) and 32AC for depreciat...

April 25, 2025 42 Views 0 comment Print


Latest Notifications


Mysore Palace Board Income Tax Exemption Notification – Section 10(46)

Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...

April 25, 2025 87 Views 0 comment Print

Expenses for Settlement of SEBI & Competition & Depositories Act Violations not allowable

Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...

April 24, 2025 144 Views 0 comment Print

Notification u/s 10(46A) of Income Tax Act in case of National Mission for Clean Ganga

Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...

April 23, 2025 84 Views 0 comment Print

CBDT notifies 10 new items on which TCS needs to be collected

Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ケ10 lakh, effectiv...

April 23, 2025 16302 Views 1 comment Print

CBDT amends form No. 27EQ and added 10 new items for TCS Reporting

Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...

April 23, 2025 1560 Views 0 comment Print


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.

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

January 19, 1980 478 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 No. S.O.708-Income Tax, Dated: 18.01.1980

January 18, 1980 292 Views 0 comment Print

That the institute shall send annual statement of accounts and annual report to the Indian Council of Social Science Research as well as to the concerned Commissioner of Income-tax, showing the funds collected by them under the exemption and the manner in which the funds were utilized.

Notification No. S.O.722-Income Tax, Dated: 18.01.1980

January 18, 1980 244 Views 0 comment Print

In exercise of the powers conferred by sub-section (23C) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Prasanna Venkatesa Perumal Sannidhi, Velukkudi, Mannargudi Taluk, Tanjore District, Tamil Nadu, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.

Notification No. S.O.707-Income Tax, Dated: 17.01.1980

January 17, 1980 322 Views 0 comment Print

That the foundation will furnish a copy of the annual audited statement of accounts to the Council for each year by 31st May, each year and in addition send a copy of it to the concerned Income-tax Commissioner.

Notification No. S.O.765-Income Tax, Dated: 17.01.1980

January 17, 1980 217 Views 0 comment Print

That the Research Centre will furnish a copy of the annual audited statement of accounts to the Council for each year by 31st May, each year and in addition send a copy of it to the concerned Income-tax Commissioner.

Notification No. S.O.402-Income Tax, Dated: 16.01.1980

January 16, 1980 214 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, read with rule 6(iv) of the Income-tax Rules, 1962, by the Indian Council of Agricultural Research, New Delhi.

Notification No. S.O.706-Income Tax, Dated: 16.01.1980

January 16, 1980 274 Views 0 comment Print

That the centre will furnish a copy of the annual audited statement of accounts to the Council for each year by 31st May, each year and in addition send a copy of it to the concerned Income-tax Commissioner.

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