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.
Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
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...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Rule 150 of the Draft Income-tax Rules, 2026 lays down the methodology for determining the fair market value of property under section 247(9). It specifies that the value of immovable property, including land or building or both, shall be based on the value adopted, assessed, or assessable by the Central or State Government authority for […]
Draft Rule 151 of the Income-tax Rules, 2026 prescribes mandatory written authorisation, documentation, sealing, and custody procedures for requisition of books, documents, assets, and digital records under section 248.
Rules 152–156 of the Draft Income-tax Rules, 2026 lay down clear procedures for release of seized assets, distraint and sale, prescribed forms for information, and designation of authorities to ensure transparency and accountability.
Rule 157 of the Draft Income-tax Rules, 2026 exempts specified non-residents and eligible foreign investors from obtaining PAN, subject to TDS compliance and prescribed reporting conditions.
Rule 158 of the Draft Income-tax Rules, 2026 prescribes detailed PAN application forms, timelines, document requirements, and Aadhaar authentication to strengthen compliance and data security.
Draft Rule 159 mandates quoting or applying for PAN in specified high-value banking, securities, property and cash transactions, with limited exemptions and Form 97 declarations to strengthen reporting and compliance.
Draft Rule 160 requires specified persons receiving Form 97 declarations to file electronic statements with the Income-tax Intelligence wing within prescribed deadlines and retain records for six years to enhance oversight and compliance.
Rule 161 mandates quoting and authentication of PAN for large cash deposits, withdrawals and opening of current or cash credit accounts to strengthen tax monitoring and prevent misuse of high-value cash transactions.
Draft Rule 162 states that non-intimation of Aadhaar will render PAN inoperative, leading to blocked refunds and higher TDS until compliance and fee payment restore validity. The rule enforces Aadhaar-PAN linkage through financial consequences.
Draft Rule 163 mandates income tax return filing for individuals (other than companies or firms) if they cross specified financial thresholds such as ₹1 crore current account deposits, high foreign travel expenses, or large turnover, ensuring wider tax reporting compliance.
