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.
Income Tax : The 2025 amendment in Section 143(1) of the Income Tax Act introduces new compliance requirements. Taxpayers must ensure consisten...
Income Tax : To give relief to small taxpayers from tedious job of maintaining of books of account and getting accounts audited, Income-tax Act...
Income Tax : Understand income tax rebate u/s 87A and LTCG tax u/s 112A under the new tax regime for FY 2024-25 with calculation rules, limits,...
Income Tax : Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liabi...
Income Tax : ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income ...
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...
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...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITAT Kolkata quashes assessments in absence of incriminating material; DVO’s cost estimate alone held insufficient under Abhisar...
Income Tax : ITAT Lucknow rules audit fee provisions are not allowable unless liability accrues; EPF disallowance sent back for verification....
Income Tax : ITAT Nagpur sets aside CIT(E)'s rejection of 12A registration, holding assessee not liable for file access issues on ITBA portal....
Income Tax : ITAT Pune rules one-time membership and share fees as capital receipts for Veershaiv Cooperative Bank, reversing lower authority�...
Income Tax : ITAT Pune grants partial relief in cash deposit case during demonetization under Section 69A. Dispute centered on unexplained depo...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...
Circular No. 53-Income Tax In pursuance of regulation 42 of the Unit Trust of India General Regulations, 1964, and in supersession of the Notification No. UT/120/Secy. 52/80-81, dated January 3, 1981, and published in the Gazette of India, dated January 3, 1981, in Part III, section 4, the Board of Trustees of the Unit Trust of India
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 Shri Krishna Temple, Guruvayur, to be a place of public worship of renown for the purposes of the said section
For declaration of an association as a Company u/s 2(17) of Income-tax Act, 1961, the Board laid down the following criteria :— (i) The applicant should be a legal person according to the laws of the country in which it is incorporated; and (ii) The applicant should possess the ordinary characteristics of company limited by shares.The fulfilment of any one of the following conditions will be considered adequate by the CBDT in the matter of issuing a declaration u/s 2(17).
Circular : No. 52 -Income Tax Under section 11(1), as amended by the Finance Act, 1970, income derived from property held under trust for charitable or religious purposes is exempt from income-tax only to the extent such income is actually applied to such purposes during the previous year itself or within three months next following. As “income” includes “capital gains” a charitable or religious trust will forfeit exemption from income-tax in respect of its income by way of capital gains
Notification S.O.313 – Institute for Financial Management and Research, Madras – It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research
Circular No. 51-Income Tax Reference is invited to paragraph 21 of the Board’s Circular No. 45, dated 2-9-1970 which explains the scope and ambit of section 13 as substituted by the Finance Act, 1970
This notification contains amendments to Income-tax Rules carried out on 16th December, 1970 not reproduced here as it is already contained in the body of the rules itself
Notification: S.O.3951 The Association of Otolaryngologists of India, 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: S.O.3769 This notification contains amendments to Income-tax Rules carried out on 18th November, 1970 not reproduced here as it is already contained in the body of the rules itself
Circular No. 49-Income Tax Section 288B, introduced by the Finance Act, 1966, provides for rounding off of the amount of tax (including tax deductible at source or payable in advance), interest, penalty, fine or any other sum payable and the amount of refund due under the provisions of the Act, to the nearest rupee and for this purpose where such amount contains a
