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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


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 270 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 135 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 180 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 2421 Views 0 comment Print

TDS under Income Tax Act 2025: New Sections, Same Rates, Zero Confusion

Income Tax : The new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but co...

April 20, 2026 6384 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 36 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 3333 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


ITAT Upholds Section 10A Deduction Despite Wrong Section 10B Claim in Return

Income Tax : The Tribunal supported the CIT(A)s decision to allow a new claim under Section 10A, noting that appellate proceedings are a contin...

April 21, 2026 72 Views 0 comment Print

Income Tax Refund Cannot be Adjusted When Recovery Is Stayed: Orissa HC

Income Tax : The Court held that adjusting a refund against a disputed demand during the subsistence of a stay order is illegal and arbitrary, ...

April 21, 2026 96 Views 0 comment Print

ITAT Allows Fresh Opportunity for 80P Deduction Claim Due to Non-Submission of Evidence

Income Tax : The Tribunal held that deduction cannot be rejected merely due to absence of supporting evidence without examining merits. It rema...

April 21, 2026 102 Views 0 comment Print

ITAT Deletes Penalty as Both Limbs of Section 271(1)(c) Invoked Together

Income Tax : The Tribunal held that a penalty notice lacking clarity on whether it relates to concealment or inaccurate particulars is invalid....

April 21, 2026 120 Views 0 comment Print

ITAT Deletes AMP Adjustment, Rejects Bright Line Test Following HC Precedents in Louis Vuitton case

Income Tax : The Tribunal held that BLT cannot be used for transfer pricing adjustments on AMP expenses. It ruled that no adjustment was warran...

April 21, 2026 81 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 660 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 1935 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 444 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 165 Views 0 comment Print


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.

Section 153C Notice Quashed Due to 15-Month Delay in Recording Satisfaction Note: Bombay HC

March 15, 2026 408 Views 0 comment Print

The Bombay High Court invalidated reassessment proceedings because the satisfaction note was recorded with delay and lacked a mandatory Document Identification Number.

Provisional Attachment Quashed as Tax Authority Failed to Record Section 281B Reasons: Karnataka HC

March 15, 2026 219 Views 0 comment Print

The High Court held that provisional attachment of fixed deposits cannot be ordered without recording proper reasons and satisfaction based on tangible material. Since the orders were cryptic and lacked justification, they were set aside.

Capital Gains under Income-tax Act, 2025: Key Changes from 1961 Act

March 15, 2026 7785 Views 1 comment Print

The Income-tax Act, 2025 reorganises the capital gains taxation framework while retaining the core principles of the earlier law. It clarifies definitions, holding periods, and tax treatment of gains from transfer of capital assets.

ITAT Delhi Quashes Reassessment Because Section 148 Notice Was Issued to Deceased Assessee

March 15, 2026 1284 Views 0 comment Print

ITAT ruled that jurisdiction to reopen assessment arises only when a valid notice is issued to a living person or legal representative. Since the notice was issued to a deceased assessee, the reassessment order was declared illegal.

Only profit element embedded to unaccounted purchases can be taxed: ITAT Chennai

March 14, 2026 711 Views 0 comment Print

ITAT Chennai held that where unaccounted purchases are found and the corresponding sales are not doubted, only the profit element embedded in such purchases can be brought to tax, and not the entire purchase value. Accordingly, addition towards unaccounted purchases duly restricted.

Gift of property to wife not colourable device to taint claim of exemption u/s. 54F

March 14, 2026 762 Views 0 comment Print

ITAT Delhi held that gift of a property to wife specially when she is a co-sharer in the property cannot be considered to be a colourable device and camouflage transaction to taint claim of Section 54F of the Income Tax Act. Accordingly, deduction u/s. 54F erroneously disallowed.

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