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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


TDS on Residential Rent paid by companies : 2% vs 10% rule

Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...

June 12, 2026 699 Views 0 comment Print

ITAT Allows Final Section 35D Deduction and ESOP Recharge Expense

Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...

June 12, 2026 171 Views 1 comment Print

Section 62(4) of Income-tax Act 2025: Closed List of Specified Professions Remains Unreformed

Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...

June 11, 2026 288 Views 0 comment Print

SC Order Settled the issue of Taxability of International Software Supply Transactions?

Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...

June 11, 2026 438 Views 0 comment Print

Period of limitation prescribed under Income-tax Act, 1961

Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...

June 11, 2026 5742 Views 1 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 6088 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 246 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 1671 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 3771 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 3975 Views 0 comment Print


Latest Judiciary


ITAT Upholds Section 154 Rectification as Payments from Accumulated Funds to Registered Trusts Escaped Assessment

Income Tax : Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). T...

June 12, 2026 81 Views 0 comment Print

Mumbai ITAT Rejects Excess PE Attribution: Revenue Sharing with UK Office Upheld in Cross-Border M&A Deals

Income Tax : Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE withou...

June 12, 2026 66 Views 0 comment Print

Mumbai ITAT Reiterates: Surplus from Members’ Contributions Not Taxable Under Doctrine of Mutuality

Income Tax : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...

June 12, 2026 54 Views 0 comment Print

Suspicion Cannot Replace Evidence When Property Investment Is Fully Explained: ITAT Mumbai

Income Tax : ITAT Mumbai ruled that additions under Section 69 cannot be sustained merely on suspicion when the entire property investment is s...

June 12, 2026 75 Views 0 comment Print

Mumbai ITAT Deletes Entire Bogus Purchase Addition: General Hawala Statements Cannot Override Site-Level Evidence

Income Tax : The Tribunal ruled that information from the Sales Tax Department and generic statements of alleged hawala dealers are insufficien...

June 12, 2026 45 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 46416 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 603 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 513 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 186 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 159 Views 0 comment Print


Auto Income Tax Calculators for FY-2022-23 and FY 2023-24

April 5, 2023 148977 Views 7 comments Print

Automatic Calculator in excel format for Financial Year 2022-23 (AY 2023-24) and Financial Year 2023-24 (AY 2024-25) contains All in One Calculator with Salary Statement, Computation Sheets & Form-16. Govt. had introduced a new tax regime of lower tax rates in Budget 2020. Which was continue in FY-2022-23 too. New Tax Regime was optional. But […]

Finance Act, 2023: Amendment to definition of ‘Sikkimese’ only for Income Tax

April 5, 2023 1917 Views 0 comment Print

Term Sikkimese defined in section 10(26AAA), is only for the purposes of Income-tax Act, 1961 & not for any other purpose

Taxes on Cooperative Societies

April 5, 2023 2280 Views 0 comment Print

As per Budget announcement 2023-24, following income tax related benefits are being proposed for the Cooperative Societies: i. The new co-operative society formed on or after 01.04.2023, which commences manufacturing or production by 31.03.2024 and do not avail of any specified incentive or deduction, is proposed to be allowed an option to pay tax at […]

Direct Tax collections for FY 2022-23 exceed Budget Estimates by 16.97%

April 5, 2023 1161 Views 0 comment Print

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, 3rd April, 2023 PRESS RELEASE Direct Tax collections (provisional) for the Financial Year (FY) 2022-23 exceed the Union Budget Estimates by ₹2.41 lakh crore i.e. by 16.97% Direct Tax collections (provisional) for the FY 2022-23 exceed Revised Estimates […]

TDS deduction on Salary – Old Regime- New Regime- CBDT clarified

April 5, 2023 31170 Views 1 comment Print

CBDT vide Circular No. 04/2023-Income Tax clarified that  Each year, employer shall seek information from each of its employees regarding their intended Tax Regime (Old or New under section 115BAC) and deduct TDS accordingly, If intimation is not made by an employee then his default tax regime is new Income Tax regime u/s 115BAC. CBDT […]

Donation To Rashtriya Komi Ekta Party Is Genuine: ITAT Ahmedabad

April 4, 2023 14700 Views 0 comment Print

ACIT Vs. Armee Infotech (ITAT Ahmedabad) RASHTRIYA KOMI EKTA PARTY IS ONE OF THE ‘23’REGISTERED UNRECOGNISED POLITICAL PARTIES. The grievance of the Revenue in its appeal for the Asstt.Year 2012-13 is that the ld.CIT(A) has erred in deleting disallowance of Rs.55 lakhs in respect of donation to political parties under section 80GGC of the Act. […]

What You Need to Know About Income Tax Amendments applicable from FY 2023-24

April 4, 2023 95607 Views 3 comments Print

Understand the key Income Tax Amendments from FY 2023-24. Learn about changes in tax regimes, exemptions, and impacts on individuals, businesses, and trusts.

Auto Excel calculator for Salary Certificate in Form 16 for FY 2022-23

April 4, 2023 127902 Views 3 comments Print

A Salaried Employee’s Tax Proof Certificate Form 16 to Auto Calculate and Auto Preparation Excel Based Master of Form 16 for the F.Y.2022-23 and A.Y.2023-24 Download from the attached file as Auto Calculate and Automatic Preparation Master of Form 16 Part B for the Financial Year 2022-23 and Assessment Year 2023-24(This Excel utility can prepare […]

Drop shipping businesses in USA & Indian Tax Residents Tax implications

April 4, 2023 6810 Views 0 comment Print

Discover the tax implications for dropshipping businesses in the USA and India. Learn about entity types, income tax, international tax forms, Indian laws, and tax treaties to navigate the complexities and ensure compliance while maximizing profits.

Capital Gain Exemption on Sale of Property Under Sec 54F – Landmark Judgements – Part II

April 4, 2023 75714 Views 7 comments Print

Section 54F(4) attracts only to a case where sale consideration is not utilized for purchase/ consideration of a house. It has no application to a case where assessee invests sale consideration derived from transfer in purchasing/ constructing residential house within 2 years/ 3 years of date of transfer.

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