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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


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 195 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 144 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 123 Views 0 comment Print

Taxation of International Transactions In India Under Income Tax Act 1961

Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...

February 9, 2025 516 Views 0 comment Print

Union Budget 2025 – Key Direct Tax Highlights

Income Tax : Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, a...

February 9, 2025 798 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 8811 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 9006 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 11037 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 30 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 57 Views 0 comment Print


Latest Judiciary


CBDT Must Grant Opportunity Before Rejecting Section 119(2)(b) Applications

Income Tax : Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of ...

February 9, 2025 45 Views 0 comment Print

Video Conferencing Not Granted as Further Clarification Was Unnecessary: No Violation of Natural Justice

Income Tax : Bombay HC ruled on Anandkumar Dhanraj Rathod's tax case, addressing natural justice claims and directing him to appeal the assessm...

February 9, 2025 213 Views 0 comment Print

Section 263 Invocation justified as AO passed order without Necessary inquiries

Income Tax : ITAT Chennai dismisses FLsmidth's appeal, upholding PCIT's order for reassessment due to lack of verification by AO....

February 9, 2025 48 Views 0 comment Print

ITAT Mumbai: Sections 147/148 Apply even if AO not invokes Section 153C; ₹4.89 Cr Addition Upheld Under Section 68

Income Tax :  ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. Vijay Maneklal Bhansali’s appeal dismissed, citing lack of eviden...

February 9, 2025 276 Views 0 comment Print

ITAT Chennai Remands ₹42.72 Lakh demonetization Cash Deposit addition Case to AO

Income Tax : ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made d...

February 9, 2025 57 Views 0 comment Print


Latest Notifications


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 174 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 2529 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 4980 Views 0 comment Print

CBDT Allows Income Tax Data Sharing for PMGKAY Beneficiaries

Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...

January 30, 2025 399 Views 0 comment Print

Income Tax Dept. IT Systems Declared Protected Under Information Technology Act

Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...

January 28, 2025 414 Views 0 comment Print


Notification: S.O.2431 Date of Issue: 2/7/1968

July 2, 1968 465 Views 0 comment Print

In pursuance of sub-clause (iv) of clause (a) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Public Provident Fund established under the Public Provident Fund Scheme, 1968, as a provident fund to which the said sub-clause shall apply

Notification: S.O.2430 Date of Issue: 2/7/1968

July 2, 1968 4699 Views 0 comment Print

In pursuance of clause (11) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Public Provident Fund established under the Public Provident Fund Scheme, 1968, as a provident fund to which the said clause shall apply

Notification: S.O.2149 Date of Issue: 13/6/1968

June 13, 1968 1113 Views 0 comment Print

Notification: S.O.2149 In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the National Small Industries Corporation Ltd., New Delhi, for the purposes of the said sub-clause

Notification: S.O.2169 Date of Issue: 10/6/1968

June 10, 1968 334 Views 0 comment Print

Notification: S.O.2169 N.M. Wadia Institute of Cardiology, Poona 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 (43 of 1961).

Circular No. 4-P[LXXVI-65]-Income Tax dated 7-6-1968

June 7, 1968 593 Views 0 comment Print

Circular No. 4-P[LXXVI-65]-Income Tax Section 32 of the Finance Act, 1968 has amended certain provisions of the Wealth-tax Act, 1957. These amendments relate to the provisions in section 5 for the exemption from wealth-tax in respect of certain assets; provisions in section 18 for the imposition of penalty for concealment or understatement of wealth, and the rate schedule of ordinary wealth-tax in Paragraph A of Part I of the Schedule.

Notification: S.O.2069 Date of Issue: 5/6/1968

June 5, 1968 409 Views 0 comment Print

In the notification of the Central Board of Direct Taxes, No. S.O. 1112 dated the 18th March, 1968, published at pages 363 to 369 in Part II–Section 3–Sub-section (ii) of the Gazette of India Extraordinar

Notification: S.O.1856 Date of Issue: 22/5/1968

May 22, 1968 409 Views 0 comment Print

Notification: S.O.1856 This Notification contains amendment to Income-tax (Third Amendment) Rules, 1968 carried out on 22nd May, 1968 not reproduced here as it is already contained in the body of the Rules itself.

Notification: S.O.3904 Date of Issue: 25/10/1967

October 25, 1967 463 Views 0 comment Print

In exercise of the powers conferred by rule 5 of the Income-tax (Certificate Proceedings) Rules, 1962, the Central Board of Direct Taxes hereby makes the following amendment in the notification of t

Notification: S.O.3880 Date of Issue: 25/10/1967

October 25, 1967 460 Views 0 comment Print

This notification contains Corrigendum to Income-tax Rules carried out on 25th October, 1967 not reproduced he

Circular No. 5-P-Income Tax dated 9-10-1967

October 9, 1967 2331 Views 0 comment Print

Circular No. 5-P-Income Tax Under the Finance (No. 2) Act, 1967, the rates of income-tax in respect of the assessment year 1967-68 in the case of all categories of assessees (corporate as well as non-corporate) are the same as under the Finance Act, 1966, subject to two modifications. The main modification pertains to the rebates of income-tax available to assessees

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