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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


Advance Tax Provisions, Challan, e-payment Utility & Examples

Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...

June 15, 2026 194742 Views 14 comments Print

Income Tax Offences liable to prosecution

Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...

June 15, 2026 58634 Views 4 comments Print

Power of Commissioner to Reduce or Waive Income Tax Penalty

Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...

June 15, 2026 64885 Views 3 comments Print

Decoding Exempt Incomes Under Income Tax Act, 2025: From Section 10 to 11

Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...

June 15, 2026 66 Views 0 comment Print

Penalties under Income-Tax Act, 1961

Income Tax : This article outlines major penalties under the Income-tax Act for defaults involving tax payments, return filing, TDS compliance,...

June 15, 2026 113218 Views 2 comments 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 6106 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 258 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 1737 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 3813 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 3993 Views 0 comment Print


Latest Judiciary


Entire Unaccounted Sales Cannot Be Taxed as Only Profit Element Is Assessable: ITAT Delhi

Income Tax : The Delhi ITAT held that the full value of unaccounted sales cannot automatically be treated as taxable income. It restricted the ...

June 15, 2026 42 Views 0 comment Print

No addition of capital gain on land as lack of agricultural Income did not alter agricultural character of land

Income Tax : Addition of capital gain was deleted as impugned land being agricultural land situated beyond the prescribed municipal limits and ...

June 15, 2026 66 Views 0 comment Print

ITAT Deletes Section 14A Disallowance as Subsidiary Investment Yielded No Exempt Income

Income Tax : The ITAT held that investments which did not generate exempt income during the year cannot be considered for Rule 8D disallowance....

June 15, 2026 51 Views 0 comment Print

WhatsApp Chats Alone Cannot Justify Tax Additions Without Supporting Evidence: ITAT Ahmedabad

Income Tax : The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in ...

June 15, 2026 969 Views 0 comment Print

ITAT Deletes BMA Penalty as Foreign Assets Were Disclosed in Section 153A Returns

Income Tax : ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequentl...

June 15, 2026 66 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 47982 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 678 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 540 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 198 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 162 Views 0 comment Print


ITAT upheld disallowance of expenditure not proved/supported by relevant bills

January 4, 2023 1563 Views 0 comment Print

Print Plus Private Limited Vs ITO (ITAT Mumbai) Brief facts is that the AO noticed from perusal of Tax Audit Report that the appellant/assessee had paid remuneration to directors amounting to Rs. 23,26,200/-. However, it was noticed that an amount of Rs.36,00,600/- was debited to Profit & Loss account instead of Rs. 23,26,200/-. On a […]

Deduction u/s 80P(2)(d) available to co-operative society for interest earned from investment with co-operative bank

January 4, 2023 4680 Views 0 comment Print

ITAT Pune held that interest income of co-operative society from investments/ deposits parked with co-operative bank is allowable as deduction to co-operative society under section 80P(2)(d) of the Income Tax Act.

Disallowance u/s 40A(3) sustainable as cash payment exceeds INR 20,000 to single party in single day

January 4, 2023 3168 Views 0 comment Print

ITAT Chennai held that disallowance u/s 40A(3) of the Income Tax Act sustainable as aggregate of the payments made to a single party otherwise by an account payee cheque drawn on a bank or account payee bank draft exceeds Rs.20,000/-in a day.

Orders cannot be set aside on mere whims & fancies of Revisionary Authority

January 4, 2023 675 Views 0 comment Print

On facts we find that issues have been enquired into at length by AO and orders cannot be set aside on mere whims & fancies of Revisionary Authority

ITAT directs CIT(A) for further adjudication after considering assessee’s submission

January 4, 2023 720 Views 0 comment Print

ITO Vs Sh. Subash Chander (ITAT Amritsar) It is prayed that all the assessment years need to be considered cumulatively by lower authorities taking into account not only the evidence already on record but also by allowing assessee to provide further evidence in support of his submissions because the entire proceedings have been carried out […]

TDS on Purchase/Sale of Residential Flat

January 3, 2023 109371 Views 7 comments Print

Navigate the tax landscape of residential flat transactions with insights into TDS implications on purchase and sale. Understand the intricacies, compliance procedures, and consequences of non-deduction. Stay informed about GST on under constructed flats and make informed decisions.

CBDT circulars/ instructions are binding on revenue

January 3, 2023 6186 Views 0 comment Print

ITAT Hyderabad held that CIT(A)/ NFAC failed to consider circular no. F.173/193/2019-ITA-1 dated 23.04.2019 and subsequent circular No.2/2020 vide F.No.197/55/2018-ITA-I dated 03.01.2020 which are issued by CBDT and the same is binding on the revenue authorities. Accordingly, matter restored.

Non-deduction of TDS on Sale of Share to Airtel by Vodafone- HC directs AO to determine whether it is a fit case for Reassessment

January 3, 2023 1167 Views 0 comment Print

Vodafone Mauritius Limited Vs ACIT (Delhi High Court) Ms Fereshte D. Sethna, who appears on behalf of the petitioner, says that the principal allegation against the petitioner is that the petitioner, which is a foreign company incorporated under the laws of Mauritius, had sold shares worth Rs.1295 crores, of an Indian company going by the […]

HC quashes Reassessment order passed without Considering Objections of Assessee

January 3, 2023 2967 Views 0 comment Print

Kailash Kedia Vs ITO (Orissa High Court) Learned counsel for the Petitioners have also assailed both the notice under Section 148-A(1)(b) of the Act as well as the consequential order under Section 148-A(1)(d) on several grounds including the ground of limitation, not considering the objections filed, not providing a personal hearing, non-application of mind to […]

HC disposes matter without entering into merits on request of petitioner

January 3, 2023 738 Views 0 comment Print

Mehta Enterprise Vs State of Gujarat (Gujarat High Court) As there has been an order of confiscation, learned advocate Mr. D.K.Puj, learned advocate requires this to be withdrawn. According to him, he will have an opportunity to then take a legal recourse which he wants to explore. Matter is being disposed of without entering into […]

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