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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


Why Does India’s ITR Deadline Always Need an Extension?

Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...

June 9, 2026 2529 Views 1 comment Print

Comprehensive Guide to Maintenance of Books of Accounts

Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...

June 9, 2026 19722 Views 0 comment Print

Taxability of concessional or interest-free loan perquisite by Employee

Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...

June 9, 2026 46044 Views 1 comment Print

Taxation of Employee Stock Option Plan (ESOP)

Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...

June 9, 2026 41910 Views 0 comment Print

Updated Return of Income: Rules, Eligibility and Filing Process

Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...

June 9, 2026 14655 Views 0 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 6001 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 213 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 1560 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 3663 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 3939 Views 0 comment Print


Latest Judiciary


LTCG Exemption Denied as 3072% Returns Failed Human Test Probability

Income Tax : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...

June 9, 2026 60 Views 0 comment Print

SC Upholds LTCG Addition as Extraordinary Penny Stock Gains Defied Business Logic

Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...

June 9, 2026 72 Views 0 comment Print

Delhi HC Upholds LTCG Addition on Extraordinary 4910% Returns from Penny Stock

Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...

June 9, 2026 81 Views 0 comment Print

AO cannot finalize assessment before completion of DRP mechanism: Karnataka HC

Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...

June 9, 2026 84 Views 0 comment Print

Karnataka HC Rejects Ad Hoc Expenditure Disallowance as Books of Account were accepted

Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...

June 9, 2026 75 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 42177 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 519 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 474 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 153 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 135 Views 0 comment Print


AO Cannot Reopen on the Same Material Examined in U/s 153C Assessment: ITAT Quashes ₹2.90 Crore Addition

June 6, 2026 150 Views 0 comment Print

ITAT Delhi held that reassessment under Sections 147/148 cannot be based on the same material already examined during a completed Section 153C assessment. The ruling emphasizes that fresh tangible material is necessary for valid reopening.

Income Tax Computation for Individuals: Rules and Rates

June 6, 2026 13449 Views 3 comments Print

The guide explains the enhanced rebate mechanism available under the new tax regime and the revised slab structure applicable from AY 2026-27. It also discusses marginal relief and tax computation methodology.

Mechanical Satisfaction Note Invalid: ITAT Quashes 153C Assessment in Alankit Group Case

June 6, 2026 174 Views 0 comment Print

The Tribunal held that the satisfaction note failed to identify the documents allegedly found during the search or their connection to the taxpayer. The ruling confirms that vague references to seized material are insufficient.

No Section 127 Transfer, No Jurisdiction: ITAT Quashes Delhi Assessment and TP Adjustment

June 6, 2026 180 Views 0 comment Print

The Tribunal ruled that the Delhi Assessing Officer could not legally assess the taxpayer when jurisdiction continued to remain with Mumbai authorities. The decision underscores that jurisdiction cannot shift without following statutory procedures.

Delhi ITAT Applies Ojjus Medicare: Section 153C Assessment Beyond Six Years Quashed

June 6, 2026 153 Views 0 comment Print

The Tribunal held that the Revenue failed to establish escaped income of ₹50 lakh or more, a prerequisite for extending the assessment period beyond six years. The ruling reinforces strict compliance with statutory thresholds for extended reassessment.

Protective Addition Cannot Survive Once Substantive Addition Is Taxed Elsewhere: ITAT Delhi

June 6, 2026 201 Views 0 comment Print

ITAT Delhi held that protective additions cannot survive when the same income has already been assessed substantively in the hands of the real beneficiaries. The key takeaway is that the Revenue cannot tax identical income twice in different hands.

Income-Tax (Amendment) Commencement Ordinance, 2026

June 6, 2026 519 Views 0 comment Print

The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and the Bank for International Settlements. The key takeaway is a new tax incentive framework effective from 1 April 2026.

Tax Treatment on Compulsory Land Acquisition: Rules & Exemptions

June 6, 2026 56751 Views 2 comments Print

Capital gains from compulsory acquisition are generally taxed when compensation is received rather than when the land is acquired. The provisions also prescribe separate taxation for enhanced compensation and judicial awards.

Reassessment Quashed: Co-owner’s Share Below ₹50 Lakh, Notice Held Time-Barred

June 6, 2026 111 Views 0 comment Print

The Tribunal found that the Assessing Officer ignored the statutory threshold for reopening assessments beyond three years. The ruling emphasizes that reassessment notices issued contrary to limitation provisions are void in law.

Survey and Assessment Proceedings under New Income Tax Act, 2025

June 6, 2026 624 Views 0 comment Print

The new Income-tax Act, 2025 replaces the old survey framework with a streamlined regime under Section 253. It expands digital record access while introducing approval requirements, retention limits, and taxpayer safeguards.

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