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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


Supreme Court Drew Tax-Fee Line Due to Quid Pro Quo

Income Tax : Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, rega...

June 13, 2026 66 Views 0 comment Print

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 1428 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 180 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 447 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 6091 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 1674 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 3774 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 Delhi Remands Demonetisation Case as CIT(A) Failed to Pass a Speaking Order

Income Tax : The Tribunal observed that even in ex parte proceedings, the CIT(A) must adjudicate issues through a speaking order. The matter wa...

June 13, 2026 15 Views 0 comment Print

No Notional Rent on Stock-in-Trade of Unsold Commercial Units: ITAT Delhi

Income Tax : The ITAT Delhi held that no notional rent could be charged for the period during which unsold commercial units remained stock-in-t...

June 13, 2026 15 Views 0 comment Print

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 60 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 46506 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 516 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


CBDT notifies Bhadohi Industrial Development Authority under section 10(46)

April 1, 2023 948 Views 0 comment Print

Notification No. 16/2023- Income Tax Dated: 01st April, 2023 – CBDT notifies Tax Exemption to Bhadohi Industrial Development Authority, a body constituted by the state government of Uttar Pradesh, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification […]

Remuneration to Partner -Supplementary deed operates retrospectively if as per law

April 1, 2023 6465 Views 0 comment Print

Jetkool Exports India Vs National E-Assessment Centre (ITAT Mumbai) It is an admitted fact that the assessee being a partnership firm was entitled to deduction in respect of the remuneration payable to the partners as per clause 7 of the Partnership Deed. This in turn depends on the provision of Income Tax Act, 1961 which […]

AO cannnot review assessment order-Reassessment order quashed

April 1, 2023 3525 Views 0 comment Print

AO is only entitled to reopen assessment, but he cannot review an assessment in the sense that there cannot be a rethinking or different opinion on the same material, which was the subject matter of the original assessment proceedings.

Section 54F exemption on house purchased in the name of assessee’s wife & son allowed

April 1, 2023 11199 Views 0 comment Print

Mukkamala Srihari Rao Vs ACIT (ITAT Ranchi) Whether the sale consideration received by a person from sale of capital asset if applied in the name of his wife or son for purchasing/constructing residential house whether the assessee can claim deduction u/s. 54F or 54 of the Act?. From going through the decision(s) relied on by […]

Condonation of delay for condoning huge delay not granted for non-satisfying reasons

April 1, 2023 4254 Views 0 comment Print

ITAT Hyderabad held that reasons given in the condonation application for the delay are not sufficient for condonation of such huge delay of 930 days. Accordingly, appeal dismissed as barred by limitation.

Matter restored because of absence of necessary verification by AO and non-cooperation by assessee

April 1, 2023 627 Views 0 comment Print

ITAT Raipur held that matter needs to be restored in absence of necessary verification by AO in characterizing share application money as unexplained cash credit u/s 68 and non-cooperation and evasive conduct of the assessee.

Employee of Malviya Institute Jaipur being a Government employee is entitled for exemption u/s 10(10AA)

April 1, 2023 576 Views 0 comment Print

ITAT Jaipur held that as per records i.e. the Govt. Gazette Notification and Office Order submitted, Malviya National Institute of Technology, Jaipur (Raj) is a Govt. Organisation and therefore assessee being an employee of Government Organization is entitled for full exemption of earned leave encashment on retirement u/s 10(10AA) of Income Tax Act.

Mere change of opinion not valid for reopening of assessment u/s 148

April 1, 2023 2265 Views 0 comment Print

ITAT Mumbai held that re-opening of assessment under section 148 of the Income Tax Act on account of mere change of opinion is bad-in-law and liable to be quashed.

Section 44ADA Computing Profits & Gains of Professions on Presumptive Basis

April 1, 2023 1638 Views 0 comment Print

Unlock insights into Section 44ADA of the Income Tax Act, 1961, governing presumptive taxation for certain professions. Learn about taxable profits, eligibility criteria, and the impact of Budget 2023 amendments. A comprehensive guide for professionals and businesses.

2023-24 New Financial Year: ‘Do’s V/S Don’t’ – Every Individual & Business Person

April 1, 2023 8475 Views 0 comment Print

In India, the financial year runs from 1st April to 31st March of the following year. This period is used as the basis for taxation and other financial purposes in India. It is also known as the fiscal year.

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