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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 150 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 519 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 1881 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 1887 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 195519 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 1761 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


Madras HC Upholds Section 80IA Deduction as Audit Report Filed Before Assessment Completion

Income Tax : The Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...

June 16, 2026 57 Views 0 comment Print

ITAT Cancels Section 263 Revision as Issue Was Already Pending Before CIT(A)

Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...

June 16, 2026 60 Views 0 comment Print

ITAT Deletes Section 69B Addition as Excess Stock Was Recorded as Business Income

Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...

June 16, 2026 69 Views 0 comment Print

ITAT Denies Section 80GGC Deduction as Political Party Denied Reciept of Donation

Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...

June 16, 2026 69 Views 0 comment Print

ITAT Sustains Section 80GGC Political Donation Addition as Donation Was Found to Be Non-Genuine

Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...

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 48498 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 558 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


SC Ruling On Section 14A -Keep Tax System Convenient & Simple

September 9, 2021 4107 Views 1 comment Print

South Indian Bank Ltd Vs Commissioner of Income Tax (Supreme Court of India) 1. For purposes of 14A, a presumption can be made that investments have been made out of interest free funds even when there are mixed funds and there is no bifurcation in books of accounts for interest expense. 2. It needs to […]

ITAT Pune deletes addition for share capital & share premium

September 9, 2021 1221 Views 0 comment Print

DCIT Vs Mahalaxmi TMT Pvt. Ltd. (ITAT Pune) AO found that the assessee company was established dated 10 August 2004 i.e. during the financial year 2004-05 corresponding to the assessment year 2005-06 and it did not carry out any business activity till the year under consideration. Conversely, it has issued shares at a premium of […]

Delhi HC Ruling Set-aside Assessment Order in Violation of Section 144B

September 9, 2021 2835 Views 0 comment Print

Pooja Singla Builders And Engineers Private Limited Vs National Faceless Assessment Centre & Ors (Delhi High Court) 1. In the matter  of  assessment for assessment year 2018-19 dated 7.4.2021 framed in violation of provisions of section 144B(1)(xvi)(b) of the Income Tax Act, 1961. 2. The assessment is set aside for allowing fresh opportunity to assessee. […]

SC ruling on land and tree compensation to be based on valuation method

September 9, 2021 16770 Views 0 comment Print

Bhupendra Ramdhan Pawar Vs Vidarbha Irrigation Development Corporation (Supreme Court of India) 1. If the land value had been determined with reference to the sale statistics or compensation awarded for a nearby vacant land, then necessarily, the trees will have to be valued separately. 2. But if the value of the land has been determined […]

Exemption available for educational institutions- Section 10(23C) & 11

September 9, 2021 180321 Views 15 comments Print

Charitable Institutions which are registered under section 12AA of the Act can claim exemptions under section 11 of the Act when conditions are become fulfilled. While Section 11 is a general provision and applicable to all charitable institutions, Sec 10(23C) is a specific exemption provision applicable to certain Government and Non-Government educational institutions.

Charitable Institutions- Registration U/s. 12AB of Income Tax Act

September 9, 2021 126369 Views 18 comments Print

Budget 2020 proposes to digitize the process of registration for Charitable Trusts. Even the existing charitable institutions are required to apply for fresh registration under the new provisions of Sec 12AB of Income Tax Act. This article discusses the new provisions and procedure for registration under the new Section 12AB of the Act. In order […]

Section 48 in summarized form – Reduction in case of Computation of Capital Gain

September 9, 2021 99042 Views 3 comments Print

Section 48 Mode of computation. The income chargeable under the head “Capital gains” shall be computed, by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset the following amounts, namely :— (i) expenditure incurred wholly and exclusively in connection with such transfer; (ii) […]

Section 144B(1)(xvi)(b) mandatorily provides for issuance of a prior SCN & draft assessment order: HC

September 9, 2021 4782 Views 0 comment Print

Floral Realcon Pvt. Ltd. Vs National Faceless Assessment Centre (Delhi High Court) This Court is of the view that Section 144B(1)(xvi)(b) mandatorily provides for issuance of a prior show cause notice (SCN) and draft assessment order before issuing a final assessment order. Since in the present case the averment that no show cause notice as […]

Dumb Depreciation on Smart Mobile

September 9, 2021 27426 Views 2 comments Print

If ATM machine can be considered as a computer then why mobile phones and iPad? Considering change in technology, Mobile Phones should be considered as part of Computer and higher rate of Depreciation should be available to them.

ITR filing increased to 3.2 lakh daily in September, 2021

September 9, 2021 6507 Views 5 comments Print

e-Filing portal of the Income Tax Department – updates The e-Filing portal of the Income Tax Department (www.incometax.gov.in) was launched on 7th June, 2021. Taxpayers and professionals have reported glitches and difficulties in the portal since then. The Ministry of Finance has been regularly monitoring the resolution of issues with Infosys Ltd which is the Managed […]

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