Follow Us:

Income Tax

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 18 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 273 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 138 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 2433 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 42 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 75 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 102 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 123 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 1938 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


Delhi HC Quashes Look Out Circular Due to No Pending Income Tax Proceedings

March 5, 2026 498 Views 0 comment Print

The Court clarified that mere pendency of information exchange requests under DTAA cannot justify continuing a Look Out Circular. Where assessments are quashed and no tax liability exists, indefinite travel restriction is unconstitutional.

Draft Income Tax Rule 290, 291, 292: Audit Reports under Schedules IX & X (Sections 48 & 49) & Investment of Fund Moneys

March 5, 2026 162 Views 0 comment Print

Draft Rules 290–292 of the Income-tax Rules, 2026 specify audit report formats under Schedules IX and X and prescribe the mandatory investment pattern for provident fund contributions.

Draft Income Tax Rule 289: Rules for functioning of an electoral trust

March 5, 2026 117 Views 0 comment Print

Rule 289 of the Draft Income-tax Rules, 2026 lays down operational rules for electoral trusts, requiring transparent contributions, prohibiting foreign funding, and mandating distribution of at least 95% of funds to eligible political parties.

Draft Income Tax Rule 288: Guidelines for setting up Infrastructure Debt Fund for exemption under Schedule VII

March 5, 2026 180 Views 0 comment Print

Rule 288 of the Draft Income-tax Rules, 2026 outlines the conditions for setting up Infrastructure Debt Funds to claim tax exemption under Schedule VII.

Draft Rules 286–287: Approval for Employee Welfare Funds & Govt Grant Threshold under Schedule VII

March 5, 2026 162 Views 0 comment Print

Rules 286 and 287 of the Draft Income-tax Rules, 2026 outline approval requirements for employee welfare funds and define when institutions are considered substantially financed by the Government.

Draft Income Tax Rule 28: Capital Gains Exemption on Relocation of Original Fund

March 5, 2026 165 Views 0 comment Print

Rule 285 of the Draft Income-tax Rules, 2026 explains how exempt capital gains for specified funds are computed using a prescribed formula and mandatory reporting forms.

Draft Rule 284: Tax Exemption to Non-Residents for IFSC Derivative Transactions

March 5, 2026 126 Views 0 comment Print

Rule 284 of the Draft Income-tax Rules, 2026 exempts income of non-residents from certain derivative transactions in IFSCs, provided contracts are not linked to a permanent establishment in India.

Draft Income Tax Rule 283: Computation of minimum investment and exempt income for Schedule V

March 5, 2026 144 Views 0 comment Print

Rule 283 of the Draft Income-tax Rules, 2026 prescribes formulas to compute minimum investment percentages and exempt income for infrastructure investments through AIFs, domestic companies, and NBFCs under Schedule V.

Draft Income Tax Rule 282: Notification of pension fund & other conditions to be satisfied by pension fund

March 5, 2026 180 Views 0 comment Print

Rule 282 of the Draft Income-tax Rules, 2026 sets conditions for foreign pension funds seeking notification in India, including regulatory requirements, reporting obligations, and restrictions on asset usage.

Draft Income Tax Rule 281: Circumstances and conditions for Schedule III

March 5, 2026 129 Views 0 comment Print

Rule 281 of the Draft Income-tax Rules, 2026 lists the operational circumstances under which the death of armed forces personnel qualifies for benefits under Schedule III.

Search Post by Date
April 2026
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930