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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


No TDS on Transport Payments: Declaration Format Under Income Tax Act 2025

Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...

April 21, 2026 156 Views 0 comment Print

ITR Filing FY 2025-26: Step by Step Guide for Salaried Professionals

Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...

April 21, 2026 333 Views 0 comment Print

Selling Trust: The Quiet Problem of Product Mis-Selling in Indian Banking

Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...

April 21, 2026 150 Views 0 comment Print

Addition Deleted Due to Lack of Corroborative Evidence in Search-Based Case

Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...

April 21, 2026 183 Views 0 comment Print

Computerization of Form 121 (Earlier Form 15G & Form 15H)

Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...

April 21, 2026 2712 Views 0 comment Print


Latest News


CBDT Refutes Allegations of Tax Raid, Terms Claims Baseless; Complaint Filed with Election Commission & Police

Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...

April 21, 2026 54 Views 0 comment Print

CAAS Moves Supreme Court on ITAT Vacancies

Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...

April 18, 2026 228 Views 0 comment Print

Massive Tax Irregularities Found Due to Improper Deductions by Banks & NBFCs: CAG

Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...

April 6, 2026 3336 Views 0 comment Print

Free Live Webinar: Decoding the New Income Tax Act, 2025

Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...

April 5, 2026 7959 Views 0 comment Print

Representation for enhancement of monetary limit for SMC cases before ITAT

Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...

April 4, 2026 876 Views 0 comment Print


Latest Judiciary


SC Dismisses Appeal Due to Delay, HC Ruling on No PE and Offshore Taxability Stands

Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...

April 21, 2026 69 Views 0 comment Print

Offshore Supply Income Not Taxable in India Due to Absence of Business Connection: Delhi HC

Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...

April 21, 2026 102 Views 0 comment Print

Income Tax Appeal Reinstated as Delay due to Bona Fide Belief & COVID-19 Disruption

Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...

April 21, 2026 66 Views 0 comment Print

Reopening Valid Where Income Escapement Based on Search-Derived Information

Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...

April 21, 2026 69 Views 0 comment Print

Wage Arrears Deduction Allowed as Liability Accrued from Pay Revision Effective Date

Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...

April 21, 2026 63 Views 0 comment Print


Latest Notifications


Income Tax Notification Corrected Due to Technical Errors in Rules & References

Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...

April 17, 2026 666 Views 0 comment Print

Transition from Form 15G/15H to Consolidated Form 121 for TDS-exempted Incomes

Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...

April 15, 2026 1956 Views 0 comment Print

Corrigendum to Notification of Income tax return Form U

Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...

April 11, 2026 447 Views 0 comment Print

Corrigendum to Notification of Income tax return Form 7 (ITR 7)

Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...

April 11, 2026 153 Views 0 comment Print

Corrigendum to Notification of Income tax return Form 6 (ITR 6)

Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...

April 11, 2026 168 Views 0 comment Print


Interest on Delayed Counsel Payments Upheld as Income Tax Department Failed to Justify Delay  

March 15, 2026 207 Views 0 comment Print

The court declined to modify earlier directions requiring prompt payment of counsel bills, holding that procedural checks cannot justify delays and interest must be paid for late payments.

Madras HC Quashes Reassessment as Assessee Fully Disclosed Material Facts

March 15, 2026 279 Views 0 comment Print

The Madras High Court held that reopening an assessment after four years is invalid where the assessee had already disclosed all material facts during the original scrutiny assessment.

Income Tax: Major tax changes taking effect from 1 April 2026

March 15, 2026 7071 Views 2 comments Print

The new Income-tax Act, 2025 replaces the 1961 law and introduces structural changes such as a single “Tax Year.” Key updates include revised return deadlines, higher STT, and new rules for buybacks and deductions.

Addition on Property Purchase Deleted as Agricultural Land Was Beyond Municipal Limits

March 15, 2026 504 Views 0 comment Print

The Tribunal relied on official certificates confirming that the land was located beyond municipal limits and classified as agricultural. Since agricultural land is excluded from capital asset definition, the addition made under Section 56 was deleted.

ITAT Mumbai Grants Relief After Portal Glitch Prevented Assessee from Appearing Before CIT(A)

March 15, 2026 378 Views 0 comment Print

The tribunal examined whether an appeal could be dismissed for non-compliance without considering the assessee’s explanation. It set aside the order and remanded the matter, directing the authority to decide the appeal afresh after granting a proper hearing.

ITAT Mumbai Condoned 790-Day Delay over Denial of Hearing in Temple Trust Case

March 15, 2026 252 Views 0 comment Print

The tribunal examined whether an appeal could be dismissed as time-barred without giving the assessee an opportunity to be heard. It held that denial of hearing violated principles of natural justice and remanded the matter for fresh adjudication.

Lump-Sum Alimony Not Taxable While Monthly Maintenance Is Taxable

March 15, 2026 5859 Views 0 comment Print

Courts have held that lump-sum alimony received under a divorce settlement is a capital receipt outside the scope of taxable income. However, periodic maintenance payments remain taxable in the recipient’s hands.

Section 12AB & 10(23C)(iiiad): Does Expiry Trigger Exit Tax u/s 115TD?

March 15, 2026 2160 Views 0 comment Print

Educational institutions with annual receipts below Rs. 5 crore can claim exemption under Section 10(23C)(iiiad) without prior approval. The provision allows direct exemption if the institution exists solely for educational purposes.

Section 153A Assessment Annulled Due to Mechanical Section 153D Approval: Delhi HC

March 15, 2026 345 Views 0 comment Print

The Delhi High Court upheld the ITAT’s decision annulling the assessment after finding that statutory approval under Section 153D was granted without proper application of mind.

Revenue Appeal Dismissed as Section 153D Approval Granted Mechanically Without Application of Mind

March 15, 2026 360 Views 0 comment Print

The Delhi High Court upheld the ITAT s ruling that assessment orders were invalid because the approving authority granted Section 153D approval mechanically without examining the records.

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