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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


Don’t Blindly Trust Form 16: One Small Error Can Trigger a Huge Tax Demand

Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...

June 15, 2026 1416 Views 0 comment Print

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 195363 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 58919 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 65173 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 219 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 6115 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 267 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 1746 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 3816 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 4005 Views 0 comment Print


Latest Judiciary


No PAN of Farmers? No Problem: ITAT Deletes Ad Hoc Addition on Agricultural Commodity Purchases

Income Tax : The Tribunal ruled that audited books and quantitative reconciliation supported the genuineness of agricultural commodity purchase...

June 16, 2026 15 Views 0 comment Print

Reassessment Invalid as AO Made No Addition on Recorded Reasons for Reopening: ITAT Delhi

Income Tax : The Delhi ITAT held that additions made on transactions unrelated to the reasons recorded for reopening were beyond the Assessing ...

June 15, 2026 108 Views 0 comment Print

ITAT Restores Section 80G Application as Section 12AB Registration Was Already Directed

Income Tax : The ITAT Chandigarh held that once registration under Section 12AB had been directed to be granted, the primary basis for rejectin...

June 15, 2026 90 Views 0 comment Print

ITAT Quashes Section 153C Assessments as Block Period Must Be Counted From Satisfaction Date

Income Tax : The Delhi ITAT found that the Assessing Officer lacked legal authority to reopen assessment years lying outside the ten-year block...

June 15, 2026 93 Views 0 comment Print

ITAT Remands Cash Deposit Addition Case due to Lack of Merit-Based Adjudication

Income Tax : ITAT Chennai restored the matter to the Assessing Officer after finding that the assessment and appellate proceedings were conclud...

June 15, 2026 96 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 48336 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 684 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 549 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 204 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 165 Views 0 comment Print


CIT(E) Order passed without hearing Assessee during COVID-19 violates Principal of Natural Justice

February 5, 2022 1266 Views 0 comment Print

Madhavi Raksha Sankalpa Vs CIT (Exemptions) (ITAT Mumbai) ITAT noticed that the CIT(Exemptions) has passed the order on 31.08.2020 during the pandemic period without hearing the appellant. It is against the principles of natural justice. A proper and reasonable opportunity is liable to be given to the appellant in accordance with law, therefore, in the […]

Section 139(8A) -Updated return – Union Budget 2022

February 5, 2022 27231 Views 2 comments Print

New updated return introduced in Budget 2022-Let us discuss it in simplified manner- 1. Any person , Whether or not he has not furnished an original return, belated return or revised return,     may furnish an updated return of his income till 24 months from the end of the assessment year. but when he cannot […]

No capital gain tax on disputed pending transfer of shares

February 5, 2022 2322 Views 0 comment Print

Where the legality and validity of the agreement was under challenge, there was no infirmity into the order of CIT(A) to the extent it was held that the transfer of shares could not be subjected to capital gain tax in the year under consideration on the ground that the entire transaction had not fructified.

Highlights of Income Tax Proposals – Union Budget 2022-23

February 4, 2022 16530 Views 0 comment Print

In the Union Budget, 2022, there is no proposal for changing the rates of tax applicable for individuals or HUFs or AOPs or BOIs or Artificial Juridical persons or Firms or Co-operative societies or companies. Therefore, tax rates applicable for such persons would remain unchanged for the A.Y. 2023-24. Likewise, the basic exemption limit of Rs. 2,50,000/ Rs.3,00,000/ Rs. 5,00,000 would continue to be same for individuals /HUFs /AOPs /BOIs.

Mere suspicion of transaction cannot conclude unsecured loan as unexplained

February 4, 2022 3891 Views 0 comment Print

Unsecured loan– It is seen that merely because the Lender Company had substantial funds through borrowings, AO suspected the Assessee to have created layers of intermediaries to bring in Unaccounted money, and on the basis of such suspicion, drew adverse conclusion against the genuineness of the Unsecured Loan and treated it as Unexplained merely on the basis of such suspicion.

US Taxation: Virtual currency

February 4, 2022 1239 Views 0 comment Print

In 2014, the IRS issued Notice 2014-21, 2014-16 I.R.B. 938  explaining that virtual currency is treated as property for Federal income tax purposes and providing examples of how longstanding tax principles applicable to transactions involving property apply to virtual currency. With our income tax authorities going to bite virtual currency as explained in the recent budget […]

SC allows Assessee to adjust Tax paid under Income Declaration Scheme, 2016 against Income Tax if his application was rejected

February 4, 2022 2730 Views 0 comment Print

Yogesh Roshanlal Gupta Vs Central Board of Direct Taxes (Supreme Court) The Supreme Court while reversing the High Court’s Order has ruled that the assessee can adjust Income Tax paid under Income Declaration Scheme, 2016 with tax payable if his application was rejected. The assessee made a declaration of an undisclosed income of a certain […]

Taxation of Virtual digital asset – a new paradigm in digital tax asking for further clarity

February 4, 2022 10380 Views 0 comment Print

The Indian Government has been thoroughly focussing on digitalisation as part of it’s India governance. Be it the Digital India programme and integration of ministries on digital platforms or mandating data localisation in India, the Government does not seem to be leaving any stone unturned to embrace technological developments and innovations to the fullest. The […]

Income Tax Rates for FY 2021-22 (AY 2022-23) & FY 2022-23 (AY 2023-24)

February 4, 2022 976662 Views 9 comments Print

Rates of Income Tax for FY 2021-22 (AY 2022-23) and FY 2022-23 (AY 2023-24) applicable to various categories of persons viz. Individuals, Firms, companies etc. Introduction This article summarizes Tax Rates, Surcharge, Health & Education Cess, Special rates, and rebate/relief applicable to various categories of Persons viz. Individuals (Resident & Non Resident), Hindu undivided family […]

Some Facts Related To Applicability of DTAA

February 4, 2022 8595 Views 0 comment Print

Section 6(1) of IT Act, 1961 offers two sets of parameters to determine whether a particular person is an Indian citizen or not. If the said individual falls under any one of the following criterias, he/she will be a resident of the country.

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