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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


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


CBDT releases draft Common Income Tax Return Form for public consultation

December 1, 2022 1641 Views 0 comment Print

At present, taxpayers are required to furnish their Income-tax Returns in ITR-1 to ITR-7 depending upon the type of person and nature of income. The current ITRs are in the form of designated forms wherein the taxpayer is mandatorily required to go through all the schedules, irrespective of the fact whether that particular schedule is […]

Provision For Liquidated Damages is an Ascertained Liability and Allowable

December 1, 2022 4254 Views 0 comment Print

SKF Engineering & Lubrication India Pvt. Ltd Vs JCIT (ITAT Bangalore) The assessee during the year under consideration has made a provision for liquidated damages for an amount of Rs. 49,20,000/-. The AO during the revision proceedings has disallowed the said amount on the basis that the calculation of liquidated damages is based on percentage […]

Appeal filing delay cannot be condoned without ‘Reasonable Cause’

December 1, 2022 1272 Views 0 comment Print

ITAT held that As reasons given by assessee is not convincing and therefore the delay of 2886 days in filing the above appeal cannot be condoned.

Section 234E Late Fee leviable for TDS Default Post 01-06-2015 Valid

December 1, 2022 942 Views 0 comment Print

Provisions of section 234E of the Act are substantive in nature and the mechanism for computing the late fee was provided by the Parliament only w.e.f. 01.06.2015. Therefore, late fees u/s 234E of the Act can be levied only prospectively w.e.f. 01.06.2015.

Section 54 Capital Gain Exemption cannot be claimed for Multiple Flats

December 1, 2022 8406 Views 0 comment Print

Assessee is entitled for exemption u/s 54 only in respect of one flat and directed the AO to exempt cost of investment in one flat made before due date of filing return of income

SC stays reassessment proceedings against Radha Soami Satsang Beas

December 1, 2022 8769 Views 1 comment Print

SC issued notice and stayed proceedings initiated against Radha Soami Satsang Beas on an appeal challenging judgment of Punjab and Haryana HC

CBDT notifies Under-17 Women’s World Cup, 2022 as international sporting event

November 30, 2022 1278 Views 0 comment Print

CBDT notifies Federation Internationale de Football Association Under-17 Women’s World Cup, 2022 as the international sporting event for Income Tax Exemption under Section 10(39) vide Notification No. 126/2022-Income Tax | Dated: the 30th November, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi Notification No. 126/2022-Income Tax | Dated: the […]

No assessment u/s 153A in absence of Incriminating Material for passing an order u/s 153A

November 29, 2022 2346 Views 0 comment Print

Where appellant-Revenue did not reveal that the statements recorded under Section 132(4) disclose some incriminating material on the basis of which orders under Section 153A had been passed then, no assessment under Section 153A should be made.

Return filed within specified time limit and hence benefit u/s 11 available

November 29, 2022 6522 Views 0 comment Print

ITAT Delhi held that benefit of exemption u/s. 11 of the Income Tax Act duly available as the income tax return was filed within the specified time limit of sub-section 139 of the Income Tax Act.

Evolution and History of Taxation in India

November 29, 2022 28704 Views 1 comment Print

Taxation is an integral part of any economy for financial management of any Government. Such taxes are not of recent origin rather there is evidence that taxes were levied since ancient times in various forms which may be in kind like grains, gold and forest produce or it may be in the form of money.

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