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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


Addition for Unexplained Jewellery – ITAT grants relief considering Status & Traditional Practices

March 13, 2023 681 Views 0 comment Print

Mohamed Mohideen Ayesha Nasreen Vs ACIT (ITAT Chennai) ITAT held that it could be seen that assessee is living with her husband and three children (Two daughters and one son) in USA. She has got married in the year 2003. In this letter, the assessee has submitted that approx. 1201 grams of jewellery belong to […]

Cultivation of high quality foundation seeds of peas, wheat, paddy & potato is agricultural activity

March 13, 2023 1173 Views 0 comment Print

Malook Singh Vs PCIT (ITAT Delhi) CIT(A) held that cultivation of high quality foundation seeds of peas, wheat, paddy and potato is different from normal agricultural activity. Against this, the assessee has submitted all the bills & vouchers for expenses like lease rent, power bills, fertilizer, seeds, labour, wages and details of sale and mandi […]

HC Grants Bail to Consultant in case of alleged Bribery to Income Tax Superintendent

March 13, 2023 1296 Views 0 comment Print

Mehboob Jaffer Ali Shaikh Vs Central Bureau of Investigation (Bombay High Court) 1. This is an application for bail pending final disposal of Criminal Appeal No.157 of 2023 preferred by the Applicant against the Judgment and order dated 12/01/2023 passed by learned Special Judge, CBI, Greater Bombay in Special Case No.116 of 2013. The applicant […]

Impact of Budget 2023 on Personal Income Tax

March 13, 2023 7398 Views 2 comments Print

Discover the impact of Budget 2023 on Personal Income Tax, including changes in tax rates, exemptions, deductions, and the choice between old and new tax regimes.

Allowability of depreciation on Buildings/Godowns Used by Co-op Society who claims section 80P deduction

March 12, 2023 5052 Views 0 comment Print

M.P. State Cooperative Marketing Federation Ltd. Vs ACIT (ITAT Indore) ITAT held that it was unable to verify certain facts relevant to the issue being agitated, viz. (i) whether and to what extent the buildings/godowns are being used for the activities eligible for 80P deduction or other activities as being claimed before us; and (ii) […]

Fine, Lab Fee, Founder Day/Photograph Charges are Incidental income to Running of Educational Institution

March 12, 2023 1389 Views 0 comment Print

Pushp Niketan School Samiti Vs ITO (ITAT Delhi) It is seen that the assessee has filed written submission wherein it is stated that same amount shown as other income in the P&L Account including interest of FDR and saving accounts of Rs.83,008/- and other charges i.e. income of fine, Lab fee, Founder day charges, photograph […]

Income cannot be assessed at 10% when assessee was allowed to charge only 5% as per mandate of Government

March 12, 2023 1713 Views 0 comment Print

DCIT Vs Jharkhand State Beverages Corporation Ltd (ITAT Ranchi) The undisputed facts are that the assessee is engaged in the business of procurement and supply of IMFL, FMFL as well as country made liquor and other similar products and as per Government mandate the assessee is authorized to charge 5% on MRP on the wholesales […]

Section 153C Assessments based on Invalid Notices are liable to be quashed

March 12, 2023 5307 Views 0 comment Print

Malik Network & Computer P. Ltd. Vs ITO (ITAT Delhi) One of the controversies in the present case arises towards computation of limitation period under Section 153C of the Act for the purposes of issuance of notice and assessment thereon. As per Section 153A of the Act (in the case of searched persons), the limitation […]

When software itself is not taxable, the training & related activities cannot be held to be FTS

March 12, 2023 1617 Views 0 comment Print

When software itself is not taxable, the training and related activities concerned with utilization & installation cannot be held to be FTS.

No deemed rent addition for property which is not habitable

March 12, 2023 2226 Views 0 comment Print

Manindra Mohan Mazumdar Vs ACIT (ITAT Kolkata) CIT(A) while dealing with the assessee’s appeal casually dealt with the issue and in the finding only mentioned about the two properties owned by the assessee and confirmed the addition made by ld. AO. However, ld. AO did not make any addition for Deemed Rental Income for the […]

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