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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


Why RERA & Income Tax Reconciliation Is Crucial for Real Estate Developers

Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...

June 16, 2026 120 Views 0 comment Print

Which Income-Tax Law Applies to Returns Filed After 1st April 2026?

Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...

June 16, 2026 369 Views 0 comment Print

Presumptive Audit Controversy: Profit Trigger vs Turnover Trigger

Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...

June 16, 2026 1497 Views 0 comment Print

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 1833 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 195471 Views 14 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 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 1758 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


Wrong Section Used to Deny Depreciation Set-Off; Section 263 Order Quashed

Income Tax : The dispute concerned whether dividend received on capital reduction by a foreign subsidiary could trigger restrictions under Sect...

June 16, 2026 36 Views 0 comment Print

Municipal Body’s Section 10(20) Exemption Cannot Be Denied Due to Wrong Claim in Return

Income Tax : The ITAT Pune held that a genuine claim for exemption under Section 10(20) cannot be rejected merely because the assessee mistaken...

June 16, 2026 54 Views 0 comment Print

No Addition on a Different Issue if Reopened Issue Fails: ITAT Deletes ₹5.75 Crore Disallowance

Income Tax : The ITAT Mumbai held that when the reason recorded for reopening an assessment does not ultimately result in any addition, the Ass...

June 16, 2026 129 Views 0 comment Print

Retracted Statement Alone Cannot Justify Section 68 Addition: ITAT Deletes Accommodation Loan Additions

Income Tax : The Mumbai ITAT held that an addition under Section 68 cannot be made solely on the basis of a retracted statement alleging accomm...

June 16, 2026 48 Views 0 comment Print

Section 263 Cannot Be Invoked as AO Made No Addition After Enquiry: ITAT Mumbai

Income Tax : The Mumbai ITAT held that Section 263 cannot be invoked merely because the Assessing Officer accepted income without making an add...

June 16, 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 48456 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 690 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 555 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


Taxation Aspects of Income of Deceased Person

October 24, 2021 18681 Views 2 comments Print

Death and taxes are inevitable. Certainly, there is no exemption from tax on death of a person. Tax planning is required even in cases of succession. This undoubtedly expands the arena of tax professionals and creates new horizons.

Whether Penalties or Fines Paid are Allowed as an Expenditure

October 24, 2021 200526 Views 1 comment Print

In this article we are going to discuss a problem, whether Penalty/Penal Interest levied on any organisation is allowed as deduction to the assessee under provisions of Section 37(1) of the Income Tax Act, 1961.. PROBLEM: M/s. ABC Limited has been penalised under provisions of GST Act, 2017 to the tune of Rs. 50,000/- as […]

Section 148 notice in non-existent company name was bad in law

October 24, 2021 3660 Views 1 comment Print

Transway Wine Pvt. Ltd. Vs PCIT (Calcutta High Court) Impugned notice is quashed solely on the ground that the impugned notice was issued in the name of non-existing company in spite of revenue having notice and knowledge of non-existence of such Company. Quashing of this notice will not prevent the respondents from issuing fresh notice in […]

Tax Audit Series-1

October 24, 2021 31812 Views 3 comments Print

INTRODUCTION Section 44AB was introduced in the Income-tax Act, 1961, by the Finance Act, 1984. This section provides for audit of accounts of assesses having total sales, turnover or gross receipts exceeding the specified limits of Rs. 40 lakhs for business and Rs. 10 lakhs for profession. New Rule 6G, inserted in the Income-tax Rules, […]

HC quashed final assessment order of NaFAC for denial of sufficient time

October 24, 2021 10146 Views 0 comment Print

Sureshkumar S. Lakhotia Vs National e-Assessment Centre & Ors. (Bombay High Court) In this case HC Quashed the Final assessment order passed by National Faceless Assessment Centre (NaFAC) quashed as insufficient time was not given to respond to Draft Assessment Order.  The matter is remanded back to the concerned authority to consider denovo and pass […]

Affidavit submitted by Assessee cannot be rejected without any plausible reason

October 23, 2021 8088 Views 1 comment Print

Ashok Kumar Banthia Vs DCIT (ITAT Jodhpur) It is also an admitted fact that the affidavit filed by Shri Ashok Todi, which is at page No. 13 of the paper book who was director of M/s Lux Industries Ltd. had categorically admitted that on 19/04/2011, the assessee was carrying amount of Rs. 25.00 lacs in […]

Taxation of Co-Operative Society

October 23, 2021 119619 Views 2 comments Print

Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative banks (excluding a primary agricultural credit society or a primary co-operative agricultural and rural development bank), full deduction is allowable in respect of the following income: A.Where 100% deduction is allowed I 100% of the profits, included […]

Income Tax Ready Reckoner for 21-22 (An E-Book)

October 23, 2021 151491 Views 19 comments Print

This e-BOOK is an attempt to summarize Important topics of INCOME TAX ACT  and present it as a quick ready reckoner. E-book is result of Notes which I have been preparing as a quick summary throughout the last 10 years.

Whether properties rented for earning renting income by a company in all cases will be considered as income from house property?

October 23, 2021 28245 Views 0 comment Print

 Whether properties rented for earning renting income by a company in all cases will be considered as income from house property? In this article we are going to discuss an important judgement of the Supreme Court in which it was held that renting of property and rent income in all cases will not be considered […]

HC issues notice on Plea challenging Constitutional Validity of CGST Rule 90(3)

October 22, 2021 1536 Views 0 comment Print

Rule 90(3) read with the Circular dated 18.11.2019 providing for fresh application after deficiency memo to also be filed within limitation for original application is ultra vires

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