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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 171 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 129 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 93 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 471 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 762 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 8685 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 8961 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 11016 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 27 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 153 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 234 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 2523 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 4974 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.3496 Date of Issue: 29/9/1967

September 29, 1967 355 Views 0 comment Print

In exercise of the powers conferred by rule 4 of the Income-tax (Certificate Proceedings) Rules, 1962, the Central Government hereby appoints the Commisioner of Income-tax, Andhra Pradesh, Hyderabad, to be a Tax Recovery Commissioner.

Notification: S.O.3482 Date of Issue: 23/9/1967

September 23, 1967 459 Views 0 comment Print

Notification: S.O.3482 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 Maharashtra Co-operative Housing Finance Society Limited, Bombay, for the purposes of the said sub-clause

Notification: S.O.3419 Date of Issue: 22/9/1967

September 22, 1967 421 Views 0 comment Print

In pursuance of clause (d) of section 280Y of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby declares the areas shown in column (3) of the Schedule hereto annexed and forming part of the territory of the State or the Union territory, as the case may be, specified in the corresponding entry in column (2) thereof

Notification No. S.O.3408 Date of Issue: 18/9/1967

September 18, 1967 763 Views 0 comment Print

In exercise of the powers conferred by clause (d) of sub-section (4) of section 2 of the Finance (No. 2) Act, 1967 (20 of 1967), and in supersession of the Income-tax (Determination of

Notification: S.O.3218 Date of Issue: 6/9/1967

September 6, 1967 454 Views 0 comment Print

Notification: S.O.3218 This notification contains amendments to Income-tax Rules carried out on 6th September, 1967 not reproduced here as it is already contained in the body of the rules itself.

Notification: S.O.3200 Date of Issue: 4/9/1967

September 4, 1967 376 Views 0 comment Print

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 — (i) the Industrial Credit and Investment Corporation of India Limited, Bombay, and

Notification: S.O.2574 Date of Issue: 25/7/1967

July 25, 1967 334 Views 0 comment Print

Notification: S.O.2574 In exercise of the powers conferred by rule 4 of the Income-tax (Certificate Proceedings) Rules, 1962, the Central Government hereby appoints the Commissioner of Income-tax, Rajasthan, Jaipur, as a Tax Recovery Commissioner.

Notification: S.O.2460 Date of Issue: 22/7/1967

July 22, 1967 315 Views 0 comment Print

Notification: S.O.2460 This notification contains amendments to Income-tax Rules carried out on 22nd July, 1967 not reproduced here as it is already contained in the body of the rules itself

Notification: S.O.2752 Date of Issue: 20/7/1967

July 20, 1967 343 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 Dharmasamvardhinisametha Sri Kailasanathaswami Temple, Kambarasanpettai, Tiruchirapalli, Madras State, to be a place of public worship of renown throughout the Madras

Notification: S.O.2571 Date of Issue: 20/7/1967

July 20, 1967 451 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 undermentioned temples to be places of

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