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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


US Taxation – IRS Audits

Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...

April 22, 2026 480 Views 0 comment Print

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 2625 Views 2 comments 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 13221 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 186 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 312 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 204 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 261 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 3375 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 7986 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 882 Views 0 comment Print


Latest Judiciary


Revision u/s. 263 upheld as related party expense allowed without detailed verification

Income Tax : ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses were accepte...

April 22, 2026 243 Views 0 comment Print

ITAT Quashed Income Tax Assessment Due to Absence of Section 127 Transfer Order

Income Tax : The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...

April 22, 2026 540 Views 0 comment Print

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 246 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 246 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 168 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 756 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 2322 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 465 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 162 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 192 Views 0 comment Print


Valuation of finished goods after following stock ageing effect justifiable

February 27, 2025 882 Views 0 comment Print

The assessee is engaged in the business of Manufacturing & Trading of Sarees, Salwar Suites and Dress Materials. A survey u/s 133A of the Act was carried out on the business premises of the assessee on 26.11.2014.

Capital expense on R&D outside India is eligible for deduction u/s. 35(1)(iv): ITAT Pune

February 27, 2025 804 Views 0 comment Print

AO in the final order passed on 19.01.2017 however, made disallowance of weighted deduction u/s 35(2AB) to the extent of 3,38,82,341/-. Aggrieved with such order of the Assessing Officer / TPO / DRP, the assessee is in appeal before the Tribunal.

Section 87A Rebate post Bombay High Court Judgement

February 27, 2025 23430 Views 3 comments Print

Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR utility should not prevent taxpayers from making valid claims, particularly rebate under Section 87A of Income Tax Act.

No Substantial Question of Law in Profit Estimation on Bogus Purchases: Bombay HC

February 27, 2025 759 Views 0 comment Print

Bombay High Court rules that profit estimation in bogus purchases does not raise a substantial question of law, dismissing the Income Tax Department’s appeal.

Co-Browsing for Taxpayers: Easy ITR Filing Assistance

February 27, 2025 894 Views 0 comment Print

Co-browsing helps taxpayers file ITR, change settings, and navigate the tax portal with real-time help from agents. Secure, free, and easy to use.

Resorting to estimation of profit without rejection of books not justified: ITAT Hyderabad

February 27, 2025 726 Views 0 comment Print

ITAT Hyderabad held that resorting to estimation of profit in case of best judgement assessment without rejection of books of accounts is unjustifiable. Accordingly, matter set aside to the file of the lower authorities for reconsideration of the issue.

Understanding Income Tax Brackets & Deductions: A Detailed Analysis

February 27, 2025 1425 Views 0 comment Print

This article provides an in-depth analysis of India’s tax brackets, key deductions, and recent amendments to income tax laws, helping individuals make informed financial decisions.

Income From Other Sources: Chargeability Under Section 56

February 27, 2025 3789 Views 0 comment Print

This blog explores the chargeability of Income from Other Sources (IFOS) under Section 56, its scope, types of income covered, taxability, exemptions, and strategic tax planning measures for taxpayers.

Tax Implications of Gig Economy: Navigating Uncharted Waters

February 27, 2025 1665 Views 0 comment Print

This blog explores critical tax implications impacting gig workers in India, offering insights into relevant legal provisions, potential challenges and practical recommendations for effective tax management.

Section 69A not invocable when cash is sourced out of recorded sales: ITAT Chennai

February 27, 2025 1104 Views 0 comment Print

ITAT Chennai held that provisions of section 69A of the Income Tax Act could not be invoked when cash is sourced out of recorded sales. Accordingly, appeal allowed and addition u/s. 69A is liable to be deleted.

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