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 : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
Income Tax : The article examines whether Section 58(3) of the Income-tax Act, 2025 makes tax audit compulsory whenever profits fall below 6%, ...
Income Tax : Learn when senior citizens must file an Income Tax Return, who qualifies for the age-75 exemption, and how Form 125 works. The gui...
Income Tax : Summary: The article provides a practical guide for Non-Resident Indians (NRIs) on Indian income tax compliance, emphasizing that...
Income Tax : The Income Tax Act, 2025 restores capital gains taxation for share buybacks from 1 April 2026, replacing the deemed dividend regim...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : The Tribunal ruled that BSNL VRS-2019 compensation qualifies for complete exemption under Section 10(10B) despite the assessee not...
Income Tax : The Calcutta High Court dismissed the Revenues appeal after holding that the CIT(A) and ITAT had thoroughly examined the lenders' ...
Income Tax : The Tribunal held that the Assessing Officer exceeded the scope of limited scrutiny by treating capital gains as business income w...
Income Tax : The ITAT Delhi held that a notice under Section 143(2) issued by an Assessing Officer lacking jurisdiction cannot confer valid aut...
Income Tax : The ITAT held that a scrutiny assessment cannot survive where the jurisdictional Assessing Officer failed to issue the mandatory n...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Notification No.S.O.182(E) – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 269UB of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. S. O. 392(E), dated 31st May, 1989, namely
Notification No.S.O.181(E) – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 269UB of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. S. O. 684(E), dated 24th September, 1986, namely
Notification No.S.O.180(E) – Income Tax The entire district of Gurgaon in Haryana State comprising the tehsils of Gurgaon, Pataudi, Nuh and Ferozpur Jhirka and including the entire area comprised in Gurgaon Municipal Committee within the meaning of the Punjab Government Gazette Part I No. 1405-14-61/5076 dated March 4, 1966
Circular No. 595-Income tax The Board had clarified earlier that a gratuity fund, approved under the Income-tax Act, cannot be wound up unless it is necessitated by the winding up or discontinuance of the employer’s trade or undertaking, and that the revocation of a gratuity fund cannot be permitted on the basis of a resolution of the trustees and/or beneficiaries
Notification No.S.O.151(E) – Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “GIC Mutual Fund”, set up by the General Insurance Corporation of India, a body corporate incorporated under the provisions of the Companies Act, 1956 (1 of 1956) and its four wholly owned subsidiaries incorporated
Circular No. 594-Income tax The agents of Standardised Agency System, Post Office Time Deposits and Unit Trust of India, have drawn the attention of the Board to the fact that where no detailed accounts are maintained and the gross commission received by them is less than Rs. 60,000, the benefit of an ad hoc deduction for expenses, at the rate of 50 per cent of the gross receipts of commission, is available to the authorised agents of Unit Trust of India and the agents of the following securities
Notification No.S.O.948 – Income Tax In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961, (43 of 1961), the Central Government hereby notifies the ” Sri Navansetheswaraswamy Temple, Sikkal, Tamil Nadu “, to be a place of historical and archaeological importance and a place of public worship of renown for the purpose of the said clause
Section 147(b)-Scope of-Assessment year 1961-62-Reassessment-Interpretation and meaning of the word information-Material coming to the notice of the Income Tax Officer subsequent to original assessment-Meaning of the word Escape. Dissolution of Firm-Valuation of closing stoc- Principles-In continuing business closing stock to be valued at cost or market price which ever is lower-Where business is discontinued, the closing stock to be valued at market price.
Notification No.S.O.93(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ” 10-year 9 per cent. (tax-free) Secured Redeemable Non-Convertible Railway Bonds V Series “, issued by the Indian Railway Finance Corporation Limited for the purpose of the said item
Notification No.S.O.816 – Income Tax In exercise of the powers conferred by clause (ix) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Indira Gandhi National Centre for Arts, New Delhi”, for the purpose of the said sub-clause for the assessment years 1991-92 to 1994-95
