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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


Old vs New Income Tax Regime: 7 Costly Mistakes to Avoid in FY 2026-27

Income Tax : Key mistakes taxpayers should avoid when choosing between old and new tax regimes for FY 2026-27, including deductions, deadlines,...

April 19, 2026 9177 Views 0 comment Print

Choose Your Subcontractor Wisely: A Costly ITAT Lesson

Income Tax : ITAT Kolkata remands case on disallowance of subcontractor expenses, stressing need for evidence, due diligence, and verification ...

April 19, 2026 2505 Views 0 comment Print

Concise Manual for Non-Profit Organizations under Income Tax Act 2025

Income Tax : The new law introduces a structured framework for NPO registration, income application, and taxation. It simplifies compliance but...

April 18, 2026 573 Views 0 comment Print

Form 41 for DTAA Claims: Complete Guide under Income Tax Act 2025  

Income Tax : Form 41 is now compulsory for non-residents claiming DTAA benefits, replacing Form 10F. The update mandates online filing and ensu...

April 18, 2026 3003 Views 0 comment Print

Notices under New Income Tax Act 2025 – Step-by-Step Response Guide

Income Tax : Notices are increasingly triggered by AIS/TIS mismatches and automated systems. Accurate reporting and reconciliation are key to a...

April 18, 2026 174 Views 0 comment Print


Latest News


CAAS Moves Supreme Court on ITAT Vacancies

Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...

April 18, 2026 216 Views 0 comment Print

Massive Tax Irregularities Found Due to Improper Deductions by Banks & NBFCs: CAG

Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...

April 6, 2026 3300 Views 0 comment Print

Free Live Webinar: Decoding the New Income Tax Act, 2025

Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...

April 5, 2026 7935 Views 0 comment Print

Representation for enhancement of monetary limit for SMC cases before ITAT

Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...

April 4, 2026 870 Views 0 comment Print

Income-tax Act, 2025 comes into force from 1st April, 2026

Income Tax : The government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...

April 4, 2026 3516 Views 1 comment Print


Latest Judiciary


GST Notices for Multiple Years Allowed? Bombay HC Refers Issue to Larger Bench

Income Tax : The court examined whether consolidated GST show-cause notices across financial years are valid. It found no clear statutory bar b...

April 20, 2026 873 Views 0 comment Print

Service Matters to CAT First: HC Declines Writ on Pension & Arrears Claim of retired income tax official

Income Tax : Karnataka High Court declines writ on pension, arrears and leave claims of retired tax official, holds service matters must first ...

April 20, 2026 24 Views 0 comment Print

No Hearing, No Decision: HC Sets Aside Rejection of Business Loss for Fresh Adjudication

Income Tax : Karnataka High Court sets aside rejection of business loss for violation of natural justice due to denial of personal hearing; rem...

April 20, 2026 39 Views 0 comment Print

Wrong Property, Right Target: Tribunal Allows Benami Attachment of Rs 1.96 Cr Despite Defective Identification

Income Tax : The Tribunal held that incorrect identification of property does not invalidate proceedings when benami investment is established....

April 20, 2026 30 Views 0 comment Print

HC Rejects ‘Human Conduct’ Theory: Cash Deposit Explained, Sec 69A Addition & Penalty Quashed

Income Tax : Karnataka High Court rejects Revenues appeal, holds Sec 69A addition unsustainable where cash source explained with evidence; huma...

April 20, 2026 63 Views 0 comment Print


Latest Notifications


Income Tax Notification Corrected Due to Technical Errors in Rules & References

Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...

April 17, 2026 573 Views 0 comment Print

Transition from Form 15G/15H to Consolidated Form 121 for TDS-exempted Incomes

Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...

April 15, 2026 1647 Views 0 comment Print

Corrigendum to Notification of Income tax return Form U

Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...

April 11, 2026 429 Views 0 comment Print

Corrigendum to Notification of Income tax return Form 7 (ITR 7)

Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...

April 11, 2026 150 Views 0 comment Print

Corrigendum to Notification of Income tax return Form 6 (ITR 6)

Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...

April 11, 2026 153 Views 0 comment Print


Extended time upto 16.08.2019 to Task Force to draft New Direct Tax Law

July 31, 2019 717 Views 0 comment Print

The Government has allowed the Task Force to submit its report by 16th of  August, 2019, in light of the fact that the new Members of the Task Force requested for more time to provide further inputs.

IT Dept conducts search on group connected with VVIP Chopper Scam

July 31, 2019 558 Views 0 comment Print

Income Tax Department conducted search action on 24th July, 2019, on a Hyderabad based group engaged in the business of conducting seismic data analysis. The assesse group indulged in large scale over-invoicing of imports through a Dubai based operator who is an accused in a VVIP Chopper scam. The surplus funds thus generated amounting to USD 6 million were parked in Dubai based accounts of the said operator.

Interest on deposit received by Co-Op Bank made in ordinary course of business is Business Income

July 31, 2019 594 Views 0 comment Print

The issue under consideration is that the Income of interest received on advances should be considered as income from other sources or not?

HC allows Deduction Towards Construction of Houses for Needy Persons

July 31, 2019 834 Views 0 comment Print

Kanhaiyalal Dudheria Vs JCIT (Karnataka High Court) Assessee has incurred the expenditure towards construction of 169 houses for the villagers who had lost their home due to natural calamity. In order to cater to the needs of those destitute persons who had lost the roof over their head on account of natural calamity, assessee constructed […]

Banning of Unregulated Deposit Schemes Act, 2019

July 31, 2019 7422 Views 0 comment Print

THE BANNING OF UNREGULATED DEPOSIT SCHEMES ACT, 2019- NO. 21 OF 2019- An Act to provide for a comprehensive mechanism to ban the unregulated deposit schemes, other than deposits taken in the ordinary course of business, and to protect the interest of depositors and for matters connected therewith or incidental thereto.

Section 194LA: Payment of Compensation on acquisition of certain immovable property

July 31, 2019 114810 Views 4 comments Print

Section 194LA: Payment of Compensation on acquisition of certain immovable property With effect from 1st October 2004, new section 194LA was inserted into the Income Tax Act, 1961. Section 194LA relates to the TDS provisions applicable on the payment of compensation at the time of acquisition of certain type of immovable property. The present article […]

ITAT allows tax relief of Rs. 5 crore to actor Shilpa Shetty

July 31, 2019 2211 Views 0 comment Print

As the actor Shilpa Shetty was a brand ambassador for IPL team Rajasthan Royals, she was bound to render certain services without any charge to subsidiary company JIPL owned by holding company of her husband and assessee did not receive any consideration for the services rendered to JICPL, in the absence of any ‘price’, the provision of services could not be considered as an ‘international transaction under sec. 92(1).

Section 68: Issue of shares in lieu of shares was not unexplained credit

July 31, 2019 2385 Views 0 comment Print

The issue under consideration is whether the addition u/s 68 on account of share capital and share premium by treating the same as unexplained cash credit is justified in law?

Ownership by registered deed not mandatory to claim section 54/54F exemption

July 31, 2019 16281 Views 0 comment Print

Though assessee had not become owner of property in question because there was no registered sale deed executed by vendor, however, becoming the owner of the property in question was not required for the purpose of section 54/54F and, therefore, no deduction could be denied to assessee.

Section 54 exemption on Construction over leasehold land

July 31, 2019 9288 Views 0 comment Print

 Requirement of section 54 in the second limb is that capital gain should be used in construction of residential house and nothing more. Assessee in the instant case was the owner of super-structure constructed by utilizing capital gain and it was clear from the lease deed by which land over which construction had been put up was given on lease to assessee, therefore, deduction under sections 54 could not be disallowed.

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