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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


New Tax Audit Form 26 Expands Stock Reporting Requirements in 2026-27

Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...

June 19, 2026 261 Views 0 comment Print

Applicability of Section 332(1) of Income Tax Act, 2025 for Educational Institutions Covered by Schedule VII Sl. No. 19

Income Tax : This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exem...

June 19, 2026 117 Views 0 comment Print

Redeemed My ELSS Fund After 3 Years – Is Gain Taxable & How Much?

Income Tax : This article explains why ELSS redemption gains are taxable despite offering tax deductions at the time of investment. It highligh...

June 19, 2026 102 Views 0 comment Print

I Sold Listed Shares & Made INR 3 Lakh Profit – How Is LTCG Taxed Now?

Income Tax : Learn how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...

June 19, 2026 2193 Views 0 comment Print

FAQs on Income Tax e-Verification Scheme 2021

Income Tax : The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and ...

June 19, 2026 11913 Views 0 comment Print


Latest News


Advance Tax Collections Grow 15.30% due to Higher Corporate Tax Payments

Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...

June 19, 2026 123 Views 0 comment Print

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 6154 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 276 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 1833 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 3900 Views 1 comment Print


Latest Judiciary


ITAT Deletes Section 68 Addition as Accepted Cash Sales Cannot Be Treated as Unexplained

Income Tax : ITAT Delhi held that cash deposits arising from recorded and accepted cash sales cannot be added as unexplained cash credits under...

June 19, 2026 102 Views 0 comment Print

ITAT Deletes Transfer Pricing Adjustment as CCDs Are Not Call Options

Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures cannot be equated with call options and that no option premium arose fro...

June 19, 2026 84 Views 0 comment Print

ITAT Holds Interest on CCDs Allowable as RBI’s FDI Classification Cannot Govern Income Tax

Income Tax : ITAT Bangalore held that RBI's classification of compulsorily convertible debentures as equity for FDI purposes cannot determine t...

June 19, 2026 69 Views 0 comment Print

ITAT Remands Support Service Fee Disallowance as CIT(A) Ignored Documentary Evidence

Income Tax : ITAT Delhi held that no disallowance under Rule 8D(2)(ii) could be made where investments yielding exempt income were financed fro...

June 19, 2026 90 Views 0 comment Print

ITAT Deletes CCD Interest Disallowance as Debentures Remain Debt Until Conversion

Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures retain their character as debt until conversion into equity. It deleted ...

June 19, 2026 75 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 49167 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 753 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 591 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 228 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 183 Views 0 comment Print


Rebate U/s. 87A of the Income Tax Act, 1961

December 28, 2019 104865 Views 10 comments Print

Section that Section 87A is applicable to Individuals who is resident in India. Total Income shall mean Total Income from various Sources less deductions under Chapter VIA which should be less than or equal to 3,50,000/- Rebate under section 87A is applied on total tax before adding Education Cess and Secondary Higher Education Cess / Health and Education Cess as applicable.

Public Provident Fund – Best investment destination

December 28, 2019 4116 Views 4 comments Print

Introduction PPF is money that will be yours forever. Knowledge of the different features of the PPF account will help you when you want to take a loan against the account, withdraw from the account, re-activate a discontinued account etc. Here an attempt is made to introduce you all features of Public Provident Fund (PPF) […]

How LTCG tax will affect mutual funds

December 28, 2019 14832 Views 1 comment Print

The Union Budget of 2018-19 has changed the tax treatment of all equity and equity-oriented mutual funds. This change was by way of a 10% tax imposed on any long-term capital gain (LTCG) exceeding Rs 1 lakh a year. Equity mutual funds were exempt from the LTCG tax earlier. Hence, this change has been viewed by investors with some worry.

Corporate Tax Rate Applicable for AY 2019-2020 & AY 2020-2021

December 28, 2019 48912 Views 1 comment Print

Income tax rates are decided and governed by Income Tax Act 1961 and are subject to change every year. This article will cover the income tax rates applicable to Domestic Companies for the Assessment Year 2019-2020 and Assessment Year 2020-2021 (As per the Taxation Laws (Amendment) Act, 2019) respectively, also cover Minimum Alternate Tax (MAT) […]

Dispose pending appeals with CIT(A) for more than 5 years by 31.03.2020

December 27, 2019 3009 Views 0 comment Print

CBDT has instructed all PR. CITs to dispose Pending appeals of more than 3 & 5 years  on priority. It is directed that all such appeals pending for more than 5 years as on 1st April, 2019 must be disposed off without fail by 31st March, 2020. F. No. 279/M-118/2013-ITJ(Pt.)(Vol.II) Government of India Ministry of […]

For whom Income Tax Return Filing is Compulsory for AY 2020-21?

December 27, 2019 14385 Views 0 comment Print

Mandatory Filing of Income Tax Returns – Who is supposed to file ITR for AY 2020-21? There are some legal consequences for late filing and evasion, which this article will explore. Let’s understand whether you are required to file an income tax return in India for FY 2019-20 Mandatory Filing of Income Tax Return (ITR): […]

Appellant PAN can’t be declared inoperative for Non-Linking with AADHAAR till SC verdict

December 27, 2019 7518 Views 0 comment Print

It is ordered that PAN of the applicant shall not be declared inoperative and the applicant would not be in default in any proceedings only for the reason that the permanent account number is not linked with Aadhaar or Aadhaar number is not quoted and the applicant shall not be subjected to the proviso to sub-section (2) of section 139AA of the Act till the judgment of the Supreme Court in the Rojer Mathew v. South Indian Bank Ltd. and others in Civil Application No.8588 of 2019 is delivered and available. Rule is made absolute accordingly to the aforesaid extent.

Anti-Evasion wing of CGST Delhi detects GST fraud of Rs 241 crores

December 27, 2019 1512 Views 0 comment Print

Anti-Evasion wing of CGST Delhi detects GST fraud of Rs 241 crores, one held The Anti-Evasion wing of CGST Delhi South Commissionerate has discovered here today yet another case of fake invoicing and GST fraud alongside a new modus operandi of defrauding the exchequer by exploiting the facility of refunds given for inverted duty structure. […]

How to withdraw amount from PPF Account

December 26, 2019 9253 Views 0 comment Print

(i) Anytime after the expiry of 5 years from the end of the financial year in which the initial subscription for Public Provident Fund (PPF) Account was made, the subscriber may withdraw 50% of the balance to his credit at the end of 4th year immediately preceding the year of withdrawal or the amount at the […]

Benami Law- Amended Provision of 2016 has no relevance without provisions of Act of 1988

December 26, 2019 1317 Views 0 comment Print

Tulsiram Vs ACIT (Benami Prohibition) (Chhattisgarh High Court) To decide the core issue whether the amended Benami Transactions (Prohibition) Amendment Act, 2016 can be made applicable for initiating proceedings against the petitioner in respect of the properties which were purchased or acquired prior to 01.11.2016, it would be necessary to read the Prohibition of Benami […]

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