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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 123 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 375 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 1515 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 1842 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 195474 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 132 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 48459 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


Invocation of Section 68 if Assessee is Opting for Presumptive Taxation

September 5, 2021 24342 Views 5 comments Print

The basic edifice of presumptive scheme u/s 44AD is assessee would not be called to maintain books under the Act and get them audited if profit shown by assessee is otherwise in accordance with prescription of section 44AD of the Act. But maintaining books of account is sine qua non for making addition under section 68. Since […]

HC stays Assessment order passed without providing personal hearing- Section 144B

September 5, 2021 1716 Views 0 comment Print

Learned counsel submits that the petitioner moved an application in terms of Section 144B 7(vii) seeking an opportunity of personal hearing which has been denied. Learned counsel submits that fair opportunity has not been provided to put up their submissions and defence and the order goes beyond the contents of the show cause notice.

Interplay between Section 194Q and 206C(1H)

September 5, 2021 121239 Views 1 comment Print

Finance Act, 2020 had introduced provisions relating to TCS on sale of goods u/s 206(1H). Finance Act, 2021 introduced provisions relating to TDS on purchase of goods u/s 194Q to cover those transactions which were left uncovered by section 206C(1H). These amendments have increased the compliance burden for the taxpayer as it impacts the most […]

Interim Protection against Section 148 Notice by MP High Court

September 4, 2021 1854 Views 0 comment Print

Jagadish Kumar Basantani Vs ITO Bhopal and Others (Madhya Pradesh High Court) Regard being had to the similitude of the questions involved, on the joint request of the parties, the matter is being heard on the question of admission and interim relief. Learned counsel for the petitioner submits that the petitioner has challenged the Constitutionality […]

Quick Steps to file ITR 2021, Due Date & Importance

September 4, 2021 3372 Views 1 comment Print

Income Tax Return (ITR) is a form which a person is supposed to submit to the Income Tax Department of India. It contains information about the person’s income and the taxes to be paid on it during the year. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and […]

Genuinity of Transaction is to be proved by Assessee as mere Statutory Approvals doesn’t sanctify Transaction

September 4, 2021 954 Views 0 comment Print

The Revenue contended that the Appellant has not proved the genuinity and the credit worthiness of the Mauritius company and therefore, the entire share application money was treated as undisclosed income and added to the returned income by applying Section 68 of the Act.

Delhi ITAT Deduction on Late deposit of ESIC- EPF

September 4, 2021 4602 Views 1 comment Print

Vedvan Consultants Pvt. Ltd. Vs DCIT (ITAT Delhi) 1. In view of what has been discussed above and following the decision rendered by the Hon’ble jurisdictional High Court in case of CIT vs. Bharat Hotels Ltd. (supra), we are of the considered view that the assessee company is not entitled for deduction of Rs.4,29,110/- u/s […]

Cryptocurrencies & Taxation of Cryptocurrencies under Income Tax

September 4, 2021 1281 Views 0 comment Print

A cryptocurrency is digital, decentralized currencies that are issued by a private enterprise to work as a consideration of transaction between two individuals or businesses without any direct interference from the government. There are around 4000 different cryptocurrencies in the world and around 15 million people have invested $1.36 Billion in cryptocurrencies in India. Some […]

Section 194P: Recent Updates- Specified Bank & amp; form of Declaration

September 4, 2021 14394 Views 0 comment Print

Section 194P was inserted in the Income Tax Act, 1961 vide the Finance Act, 2021, which was made applicable w.e.f. 1st April, 2021. Extract of Section 194P: (1) Notwithstanding anything contained in the provisions of Chapter XVII-B, in case of a specified senior citizen, the specified bank shall, after giving effect to the deduction allowable under Chapter VI-A and […]

Taxability of Agricultural Income In India

September 4, 2021 10149 Views 2 comments Print

According to Section 10 (1) of the Income Tax Act, any income arising from the agricultural lands, buildings, or any other agricultural or commercial product which is less than Rs. 5000 will not be counted in an individual’s total income. SOURCES OF AGRICULTURAL INCOME Any income arising through (i) Rent or lease of Land in […]

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