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 Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under...
Income Tax : The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exempt...
Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...
Income Tax : ITAT Jaipur held that proceedings under Section 153C are invalid where the Assessing Officer merely reproduces information from th...
Income Tax : The Income Tax Department explains how CPC processes returns under Section 143(1) by correcting apparent errors and incorrect clai...
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 affirmed the CIT(A)'s order annulling assessments because the search was not conducted in the assessee's name. It als...
Income Tax : The ITAT held that the Supreme Court’s COVID-19 limitation extension did not apply to statutory timelines for completing income-...
Income Tax : The ITAT Raipur held that estimated gross profit addition on unrecorded sales cannot be sustained when the Assessing Officer has n...
Income Tax : The Karnataka High Court set aside the impugned order after finding that the entire tax demand had been recovered despite an inter...
Income Tax : The ITAT Mumbai held that the assessee's convertible debentures lacked the liability component required for classification as Comp...
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...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Notification: S.O.2610 Central Government hereby accords approval to the Kreditanstalt fur Wiederaufbau (West German Bank for Reconstruction), West Germany, for the purposes of exemption from income-tax or super-tax on the interest payable by any industrial undertaking in India on moneys borrowed by it under a loan agreement entered into with the said foreign financial institution
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 to amend the INCOME-TAX RULES, 1962, namely :—
In exercise of the powers conferred by sub-clause (iii) of clause 44 of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorises every Gazetted Officer of the Government of Orissa, appointed to perform the functions of a Certificate-Officer under clause (3) of section 3 of the Bihar and Orissa Public Demands Recovery Act, 1914 (Bihar and Orissa Act IV of 1914), to exercise the powers of a Tax Recovery Officer under the Income-tax Act, 1961.
In exercise of the powers conferred by sub-clause (iii) of clause 44 of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorises every Gazetted Officer of the Government of Bihar, appointed to perform the functions of a Certificate Officer under clause (3) of section 3 of the Bihar and Orissa Public Demands Recovery Act,
In exercise of the powers conferred by sub-section (iii) of clause (44) of section 2 of the Indian Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorises every Gazetted Officer of the Government of West Bengal appointed to perform the functions of a Certificate-Officer under clause (3) of section 3 of the Bengal Public Demands Recovery Act, 1913 (Bengal Act III of 1913), to exercise the powers of a Tax Recovery Officer under the Income-tax Act, 1961
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Bharatiya Bhasha Parishad, Calcutta, for the purpose of the said sub-clause for the assessment years 1990-91 to 1992-93 subject to the following conditions, namely
It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Department of Science & Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962, under the category of “Association” in the area of other natural and applied sciences, subject to the following conditions :—
In a civil suit the respondent obtained a decree against his employer the appellant company for a sum which included com- pensation for wrongful termination of his service, arrears of salary, interest and costs of the suit, and then applied for execution of the decree.
Y. Narayana Chetty Vs. ITO (Supreme Court) The notice prescribed by section 148 cannot be regarded as a mere procedural requirement. It is only if the said notice is served on the assessee that the ITO would be justified in taking proceedings against the assessee. If no notice is issued or if the notice issued is shown to be invalid, then the proceedings taken by the ITO would be illegal and void – Y. Narayana Chetty v. ITO [1959] 35 ITR 388 (SC); CIT v. Thayaballi Mulla Jeevaji Kapasi [1967] 66 ITR 147 (SC); CIT v. Kurban Hussain Ibrahimji Mithiborwala [1971] 82 ITR 821 (SC).
Held, that the Income-tax Officer was justified in exercising his powers under s. 35 and rectifying the mistake. As a result of, the legal fiction about the retrospective operation of the Amendment Act, the subsequently inserted proviso must be read as.
