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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


Donation to Political Parties: Legal Framework & Tax Implications

Income Tax : Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and...

August 16, 2024 546 Views 0 comment Print

Income Tax Calculator Financial Year 2024-25

Income Tax : Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime sugges...

August 16, 2024 33945 Views 21 comments Print

Importance of Show-Cause Notices: Key Insights & Case Laws

Income Tax : Learn the importance of show-cause notices, their legal implications, and how to respond effectively to protect your rights. Explo...

August 16, 2024 381 Views 0 comment Print

Form 10 Submitted Electronically Before Assessment Completion; Reopening Due to Technical Delay Unjustified

Income Tax : Delhi HC quashes reopening of tax assessment, ruling that technical delay in e-filing Form 10 before assessment completion is unju...

August 16, 2024 120 Views 0 comment Print

Income Tax Benefits on Home Loans: What You Need To Know

Income Tax : Learn about income tax deductions on home loans, including benefits under Sections 24, 80C, 80EE, and 80EEA. Understand eligibilit...

August 16, 2024 1230 Views 0 comment Print


Latest News


Direct Tax Collections FY 2024-25 Reach Rs. 6.93 Lakh Crores as on 11.08.2024

Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...

August 13, 2024 255 Views 0 comment Print

Live Course: Handling Faceless Income Tax Assessment with AI Tools like ChatGPT

Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...

August 12, 2024 471 Views 0 comment Print

Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 12, 2024 261 Views 0 comment Print

Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 12, 2024 456 Views 0 comment Print

FAQs on PFA & Defective for ITR 1 to 6 for AY 24-25

Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...

August 10, 2024 3033 Views 0 comment Print


Latest Judiciary


Settlement consideration to be treated as taxable under the head ‘capital gains’: Delhi HC

Income Tax : Delhi HC held that the settlement consideration as received was liable to be recognized as capital gains and the same couldn’t p...

August 17, 2024 105 Views 0 comment Print

Passing of order u/s. 148A(d) on the basis of fresh ground untenable: Delhi HC

Income Tax : Delhi High Court held that passing of order by the revenue under section 148A(d) of the Income Tax Act on the basis of fresh groun...

August 17, 2024 195 Views 0 comment Print

Addition u/s. 68 justified as genuineness of transaction and creditworthiness of creditors not proved: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that genuineness of transaction, creditworthiness and identity of creditors not proved, hence addition u/s. 68...

August 17, 2024 102 Views 0 comment Print

Advance tax payment provisions doesn’t apply in reassessment proceedings: ITAT Indore

Income Tax : ITAT Indore held that rejection of appeal by CIT(A) on the footing of non-payment of advance tax as required by section 249(4)(b) ...

August 17, 2024 90 Views 0 comment Print

Notice u/s. 148 to NRI without following mandatory faceless procedure unsustainable: Telangana HC

Income Tax : Telangana High Court held that notice issued u/s. 148 of the Income Tax Act must comply with the requirement of the Scheme whether...

August 17, 2024 447 Views 0 comment Print


Latest Notifications


Finance (No. 2) Bill, 2024 – As Passed by Lok Sabha on 7.8.2024

Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...

August 13, 2024 2841 Views 0 comment Print

Guidelines for Handling High-Risk PAN Cases in Insight Portal

Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...

August 12, 2024 498 Views 0 comment Print

Income Tax Exemption for UIDAI’s Specified Income 2024-2029

Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...

August 12, 2024 276 Views 0 comment Print

Income Tax Exemption for West Bengal Transport Workers Social Security Scheme

Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...

August 12, 2024 78 Views 0 comment Print

Notification No. 98/2024 Income Tax Exemption for Karnataka Disaster Centre

Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...

August 7, 2024 732 Views 0 comment Print


Circular No. 140-Income Tax dated 6-7-1974

July 6, 1974 250 Views 0 comment Print

Circular : No. 140 -Income Tax Reference is invited to the Board’s Circular No. 124 [F. No. 167/231/72-IT(A-I)], dated 13-11-1973 [Annex II]. Paragraph 2 of the said circular contains the guidelines which had then been evolved by the Board for the grant of its approval to agreements for the purpose of section 80MM. These guidelines have since been reviewed and modified. The revised guidelines are as follows

Notification: S.O.2228-669 Date of Issue: 4/7/1974

July 4, 1974 319 Views 0 comment Print

Notification: S.O.2228-669 (iii) they are issued subject to the condition that for a period of one year from the date of issue, they cannot be transferred to any person other than an individual ; and (iv) they carry interest at a rate not exceeding 8-1/2 per cent. per annum

Notification: S.O.1832 Date of Issue: 21/6/1974

June 21, 1974 265 Views 0 comment Print

Notification: S.O.1832It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35

Notification: S.O.1831 Date of Issue: 21/6/1974

June 21, 1974 301 Views 0 comment Print

Notification: S.O.1831 It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research, the prescribed authority

Circular No. 139-Income Tax dated 21-6-1974

June 21, 1974 295 Views 0 comment Print

Circular : No. 139 -Income Tax Under section 194, the principal officer of an Indian company or a company which has made the prescribed arrangements for the declaration and payment of dividends (including dividends on preference shares) within India is required before making any payment in cash or before issuing any cheque or warrant in re­spect of any dividends or before making any distribution or payment

Notification: S.O.1719 Date of Issue: 19/6/1974

June 19, 1974 268 Views 0 comment Print

Notification: S.O.1719 It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research, the prescribed authority for

Notification: S.O.1718 Date of Issue: 18/6/1974

June 18, 1974 343 Views 0 comment Print

Notification: S.O.1718 It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research, the prescribed authority f

Circular No. 138-Income Tax dated 17/6/1974

June 17, 1974 1452 Views 0 comment Print

Circular No.138 – Income Tax The rates of income-tax for the assessment year 1974-75 in the case of all categories of taxpayers (corporate as well as non-corporate) are specified in Part I of the First Schedule to the Finance Act, 1974. These rates are the same as those specified in Part III of the First Schedule to the Finance Act, 1973 for purposes of computation of ýÿadvance taxýÿ, deduction of tax at source from

Notification: S.O.1717 Date of Issue: 15/6/1974

June 15, 1974 286 Views 0 comment Print

Notification: S.O.1717 It is hereby notified for general information that the Management Development Institute, New Delhi has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of

Circular No. 137-Income Tax dated 13-6-1974

June 13, 1974 331 Views 0 comment Print

Circular : No. 137 -Income Tax I am directed to say that the Board has considered whether in computing the capital gains on sale of motor car to which proviso to section 43(1) applies for purposes of allowance of depreciation, the actual cost has to be historic and true cost of acquisition or the actual cost as artificially reduced under the proviso to section 43( 1).

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