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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 7764 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 2403 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 561 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 2943 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 165 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 210 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


Interest on deposits linked to business setup was capital receipt and not taxable as ‘Income From Other Sources’

Income Tax : Interest earned on funds kept in bank during business setup, when those funds were directly linked to the project, was a capital r...

April 20, 2026 63 Views 0 comment Print

HC Upholds Delay Condonation u/s 119(2)(b) with Clarification on Successor Status; Not a Precedent

Income Tax : Karnataka High Court upholds condonation of delay u/s 119(2)(b) in IMA scam recovery case, clarifies respondent as successor/repre...

April 20, 2026 36 Views 0 comment Print

Reassessment on Deceased Assessee Invalid: HC Quashes Entire Proceedings, Permits Fresh Action Against LRs

Income Tax : Karnataka High Court quashes reassessment as Sec 148A(b) notice issued to deceased is void ab initio; all proceedings set aside, l...

April 20, 2026 60 Views 0 comment Print

Sec 69 Addition Set Aside for Reconsideration: HC Allows Fresh Evidence on Alleged Unexplained Investment

Income Tax : Karnataka High Court sets aside ₹45 lakh Sec 69 addition, remands to ITAT to consider fresh evidence on property transaction and...

April 20, 2026 39 Views 0 comment Print

HC Flags “Catch-22” in TDS Prosecution; Directs Liquidator to Act, Grants Limited Protection

Income Tax : Karnataka High Court flags catch-22 in TDS prosecution of ex-MD post-liquidation; directs Official Liquidator to act on representa...

April 20, 2026 111 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 543 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 1617 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


5 Major issues in filing Income Tax Return for AY 2019-20: BCAS to FM

July 17, 2019 24408 Views 9 comments Print

BCAS has highlighted issues of Delay in making available the utility to enable filing, Multiple changes in utilities, The requirement of reporting Permanent Account number of unlisted companies, Unlawful requirement of reporting ISIN codes/Folio No of shares sold and 26AS not updated and TDS certificates not available with the tax payers.

Is there a hidden fact behind deduction u/s 80EEB on Purchase of Electric Vehicle?

July 17, 2019 16251 Views 1 comment Print

On 5th July 2019 Finance minister Nirmala Sitharaman in her maiden budget speech of Union Budget 2019 has proposed to extend income-tax benefit of Rs.1.5 Lakh towards interest paid on loans for buying Electric Vehicle. A new section 80EEB is been proposed to be inserted in Income Tax Act via Finance Bill 2019 to extend […]

Section 35D-Preliminary expenses – Untying the knots

July 17, 2019 116679 Views 1 comment Print

There is a primary difference between the preliminary and preoperative expenses. Preliminary Expenses / Pre-incorporation expenses are those expenses incurred prior to incorporation of the LLP. Pre-operative expenses are incurred after incorporation of business but before commencement of business operations.

Desist addressing as ‘My Lord’ & ‘Your Lordship’: Rajasthan HC

July 17, 2019 3750 Views 0 comment Print

To honour the mandate of equality enshrined in the Construction of India, the full Court in its meeting dated 14.07.2019 has unanimously resolved to request the counsels and those who appear before the Court to desist from addressing the Hon’ble Judges as ‘My Lord’ and ‘Your Lordship’ .

Union Budget 2019 Highlights on Changes in taxation & Other Laws

July 17, 2019 1902 Views 0 comment Print

Article contains Union Budget 2019 Highlights with Budget at a Glance compiled by the Institute of Cost Accountants of Indian on Changes in Law and taxation related to Indirect Tax, Direct Tax, MSME Sector, Start Ups, Bank/NBFC, Social Stock Exchange, FDI and Foreign Portfolio Investments.  INDIRECT TAX A. Customs Customs Duty Increased/Imposed Increase in custom […]

Demerger V/s Slump Sale

July 17, 2019 63567 Views 3 comments Print

Article explains Conditions for Tax Neutral Demerger, Reasons for Demerger, Tax Implications of Demerger,  Tax implications of Demerger in the hands of the transferor entity, Tax implications of Demerger in the hands of shareholders of the transferor entity, ACCOUNTING IMPLICATIONS of Demerger, Accounting Aspects in Different Demerger Situations, Applicable Sections for Slump Sale, Taxability on […]

Section 194 – TDS on dividend

July 16, 2019 176163 Views 9 comments Print

The provisions relating to TDS on dividend is covered under Section 194 of the Income Tax Act, and the same has been explained briefly in the current article. Going through the basic provisions of section 194 of the Income Tax Act – As per the provisions of section 194 of the Income Tax Act, the Principal officer of […]

Notification No. 53/2019-Income Tax, Dated: 16/07/2019

July 16, 2019 1338 Views 0 comment Print

It is hereby notified for general information that the organization M/s National Centre for Cell Science, Pune (PAN:-  AAATN0848B) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5D of the Income-tax Rules, 1962 (said Rules), from Assessment year 2019-20 onwards in the category of ‘Scientific Research Association’, subject to the following conditions, namely:-

Allotment of flats as sales value amounts to investment in new residential house

July 16, 2019 948 Views 0 comment Print

Pr. CIT Vs Mr. Peter Savio Pereira (Bombay High Court) The Tribunal notices that the assessee had received sale consideration partly in cash and partly in form of new flats to be constructed and to be allotted to the assessee. The Tribunal, therefore, correctly came to the conclusion that the assessee’s investment in such new […]

Budget 2019 Rationalizes provisions of Prohibition of Benami Property Transactions Act

July 16, 2019 4647 Views 2 comments Print

The existing provisions of section 23 of the Prohibition of Benami Property Transactions Act (‘the PBPT Act’) provide that the Initiating Officer, with the prior approval of the Approving Authority, shall conduct any inquiry or investigation. This power is exercised by the Initiating Officer where no case is pending before him. However, it is not […]

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