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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


Sikkim: India’s Only Income Tax-Free State and the Law Behind It

Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...

June 10, 2026 81 Views 0 comment Print

8 Legal Ways to Save Income Tax in India for Business Owners & Freelancers

Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...

June 10, 2026 213 Views 0 comment Print

Section 54 Exemption for Capital Gains on Residential Property Transfer

Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...

June 10, 2026 95679 Views 4 comments Print

E-Payment of Direct Taxes: Simplifying Tax Payments

Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...

June 10, 2026 10038 Views 0 comment Print

All about Form 16 and 16A of TDS

Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...

June 10, 2026 26661 Views 1 comment Print


Latest News


Income Tax Superintendent Caught by CBI in Bribery Case Linked to PAN Deletion

Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...

June 6, 2026 6034 Views 0 comment Print

ITAT Prioritizes Old Appeals as Rising Pendency Requires Urgent Disposal Measures

Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...

June 5, 2026 225 Views 0 comment Print

Request for Rationalisation and Merger of TDS Return Codes 1023 & 1024

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...

June 4, 2026 1593 Views 0 comment Print

Reduce CASS 2026 Scrutiny Cases Due to New Income Tax Act Transition Challenges: ITGOA

Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...

May 21, 2026 3690 Views 1 comment Print

Representation for timely release of e-filing utilities for ITR for AY 2026-27

Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...

May 13, 2026 3954 Views 0 comment Print


Latest Judiciary


Telangana HC Upholds ITAT’s Rejection of Section 254(2) Rectification Plea

Income Tax : The Telangana High Court held that Section 254(2) of the Income-tax Act is confined to rectifying mistakes apparent from the recor...

June 10, 2026 30 Views 0 comment Print

JAO Cannot Bypass Faceless Reassessment Framework: Telangana HC

Income Tax : The Telangana High Court held that reassessment proceedings initiated under Sections 148A and 148 by the Jurisdictional Assessing ...

June 10, 2026 39 Views 0 comment Print

Section 50 Is Only a Computation Fiction: Long-Term Capital Loss Can Be Set Off Against Deemed STCG

Income Tax : The Tribunal held that section 50 merely prescribes a special method for computing gains on depreciable assets and does not conver...

June 10, 2026 33 Views 0 comment Print

Bogus Purchase Addition Can’t Be 100% When Sales Are Accepted: ITAT Orders GP-Based Estimation

Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...

June 10, 2026 51 Views 0 comment Print

Sale Deed Not Final Word: ITAT Accepts Higher Actual Purchase Cost and Restores Full Indexation Benefit

Income Tax : The Tribunal ruled that the guideline value recorded in a registered document is not conclusive for computing capital gains if the...

June 10, 2026 123 Views 0 comment Print


Latest Notifications


CBDT Issues Complete Income Tax Scrutiny Guidelines for FY 2026-27

Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...

June 7, 2026 44643 Views 1 comment Print

Income-Tax (Amendment) Commencement Ordinance, 2026

Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...

June 6, 2026 564 Views 0 comment Print

CBDT Notifies Infrastructure Sub-Sectors as Eligible Businesses Under Income Tax Act 2025

Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...

June 2, 2026 489 Views 0 comment Print

CBDT Approves National Institute of Advanced Studies as Scientific Research Institution  

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...

May 30, 2026 165 Views 0 comment Print

CBDT Approves S. Nijalingappa Sugar Institute for Scientific Research Tax Benefit Eligibility 

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...

May 30, 2026 138 Views 0 comment Print


Interest from investment with other co-operative society deductible u/s. 80P(2)(d)

July 18, 2025 1269 Views 0 comment Print

Assessee is a co-operative society engaged in the business of providing credit facilities to its members. Assessee is claiming deduction u/s. 80P(2) of the Income Tax Act. Notably, vide intimation u/s. 143(1), the deduction u/s. 80P(2)(d) was disallowed.

Income-Tax Bill, 2025: Lok Sabha Select Committee proposed 285 amendments

July 18, 2025 7794 Views 1 comment Print

ok Sabha Select Committee, which has proposed 285 amendments to the draft Income-Tax Bill, 2025, largely focused on simplification and clarity. The report, unanimously adopted by the committee, is expected to be tabled in the Lok Sabha on July 21, 2025.

Assessment order passed beyond stipulated timeframe is void ab initio

July 18, 2025 654 Views 0 comment Print

ITAT Cochin rules Envestnet Asset Management’s assessment order time-barred, emphasizing mandatory timelines and proper record-keeping by tax authorities.

Expenses for abandoned projects allowable as revenue Expense: Bombay HC

July 18, 2025 1560 Views 0 comment Print

Bombay High Court rules Rediff.Com can deduct expenses for abandoned capital work-in-progress, affirming ITAT’s decision based on revenue expenditure classification.

ITAT Restores Matter to CIT(A) for Fresh Order with Liberty to File Additional Evidence

July 18, 2025 729 Views 0 comment Print

ITAT Mumbai remands Gabriel India’s tax appeal over Rs. 72 lakh capital work-in-progress dispute. CIT(A) ordered to admit new evidence.

How to check Annual Information Statement (AIS) on Income Tax Website

July 18, 2025 3159 Views 0 comment Print

Understand the Annual Information Statement (AIS) on the Income Tax website, a comprehensive record of your financial transactions, and learn how to review it for accurate ITR filing.

AIS/26AS Mismatch May Trigger Tax Notices: What Taxpayer Should Know

July 18, 2025 15222 Views 4 comments Print

Learn how AIS and Form 26AS mismatches can lead to tax notices, scrutiny, and penalties. Understand common errors and ways to avoid income tax complications.

Section 79 of Income Tax Act, 1961: Immediate vs. Beneficial Ownership

July 18, 2025 3273 Views 1 comment Print

Understand Section 79 of the Income Tax Act, 1961, concerning loss set-off in closely held companies. Explore judicial interpretations of “beneficial ownership” and its implications for corporate restructurings.

Clubbing of Income – How to Avoid Unexpected Tax Liability

July 18, 2025 2643 Views 1 comment Print

Learn about Section 60-64 of the Indian Income Tax Act regarding income clubbing, which prevents tax evasion through asset transfers. Discover legal strategies to avoid unexpected tax liabilities.

ITR 4 Filing Guide for FY 2024-25: New Tax Regime

July 18, 2025 5127 Views 0 comment Print

A comprehensive guide to filing ITR 4 (Sugam) for FY 2024-25, covering applicability, new tax regime’s impact, required documents, and step-by-step online filing instructions.

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