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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 No. S.O.347, Date of Issue: 20.01.1964

January 20, 1964 411 Views 0 comment Print

Notification: S.O.347 Wool Research Association, Bombay – It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research,

Notification No. S.O.107 Date of Issue: 01.01.1964

January 1, 1964 460 Views 0 comment Print

Notification: S.O.107 Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :—This notification contains Amendment to Income-tax Rules carried out on 1-1-1964 not reproduced here as it is already contained in the body of the Rules itself

Notification No. S.O.3128, Date of Issue: 28.10.1963

October 28, 1963 426 Views 0 comment Print

Notification: S.O.3128 Study Group of Tetanus, K. E. M. Hospital, Bombay 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).

Notification No. S.O. 2953, Date of Issue: 09.10.1963

October 9, 1963 531 Views 0 comment Print

Notification: S.O.2953 In pursuance of sub-clause (ii) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the following Certificates for the purposes of that sub-clause, namely :

Notification No. S.O. 2869, Date of Issue: 05.10.1963

October 5, 1963 355 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 Sri Nachiar (Sri Andal) an

Notification No. S.O. 2806, Date of Issue: 17.09.1963

September 17, 1963 370 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 Sri Jambukeswarar and Sri Akhilandeswari

Circular No.1(15)-63/TPL – Income Tax dated 8/9/1963

September 8, 1963 2472 Views 0 comment Print

Circular No.1(15) – Income Tax The basic rates of income-tax and super tax for the assessment year 1963-64 continue to be exactly the same as for the assess­ment year 1962-63. So far as Union surcharge and the special surcharge on unearned income are concerned, the rates are the same as in the last year, subject to the following changes

Notification No. S.O. 3142 Date of Issue: 04.10.1962

October 4, 1962 429 Views 0 comment Print

Notification: S.O.3142 Section(s) Referred: 230 ,230(1) Statute: INCOME TAX Date of Issue: 4/10/1962 In exercise of the powers conferred by sub-section (1) of section 230 of the INCOME-TAX ACT, 1961 (43 of 1961), the Central Government hereby makes the following further amendment to the notification of the Government of India in the Ministry of Finance (Revenue Division) No. S.R.O. 961, dated the 25th May, 1953, namely : This notification contains amendments to Income-tax Act, carried out on 4th October, 1962, not reproduced here as it is already contained in the body of the act itself In exercise of the powers conferred by sub-section (1) of section 230 of the INCOME-TAX ACT, 1961 (43 of 1961), the Central Government hereby makes the following further amendment to the notification of the Government of India in the Ministry of Finance (Revenue Division) No. S.R.O. 961, dated the 25th May, 1953, namely : This notificatio

Notification No. S.O. 2565 Date of Issue: 09.08.1962

August 9, 1962 501 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 Revenue hereby makes the following rules further to amend the INCOME-TAX RULES, 1962, namely :

Notification No. S.O. 2573 Date of Issue: 06.08.1962

August 6, 1962 370 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 that Sri Meenakshi Sundareswarar Temple, Madurai, to be of archaeological and artistic importance for the purposes of the said section

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