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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


FAQs on Annual Information System (AIS) & Taxpayer Information Summary (TIS)

Income Tax : The Income Tax Department has clarified the purpose, contents, and access to the Annual Information Statement (AIS) and Taxpayer I...

June 20, 2026 5835 Views 1 comment Print

FAQs on Benami Property Transactions and Definitions

Income Tax : The Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under...

June 20, 2026 4314 Views 0 comment Print

FAQs on taxation of charitable or religious trusts under Income Tax Act, 1961

Income Tax : The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exempt...

June 20, 2026 15285 Views 2 comments Print

FAQs on interest under section 234A, 234B, 234C and 234D

Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...

June 20, 2026 12417 Views 0 comment Print

ITAT Quashes Section 153C Assessment Due to Lack of Independent Satisfaction

Income Tax : ITAT Jaipur held that proceedings under Section 153C are invalid where the Assessing Officer merely reproduces information from th...

June 20, 2026 90 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 150 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 6157 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 1836 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 Annuls Section 153A Assessment as Search Warrant Was Not in Assessee’s Name

Income Tax : The Tribunal affirmed the CIT(A)'s order annulling assessments because the search was not conducted in the assessee's name. It als...

June 20, 2026 57 Views 0 comment Print

ITAT Rejects Recall Plea as COVID Limitation Extension Not Apply to Assessment Proceedings

Income Tax : The ITAT held that the Supreme Court’s COVID-19 limitation extension did not apply to statutory timelines for completing income-...

June 20, 2026 60 Views 0 comment Print

ITAT Deletes GP Addition as AO Failed to Reject Books Under Section 145(3)

Income Tax : The ITAT Raipur held that estimated gross profit addition on unrecorded sales cannot be sustained when the Assessing Officer has n...

June 20, 2026 63 Views 0 comment Print

Karnataka HC Orders Refund After Entire Tax Demand Was Recovered Despite Interim Stay

Income Tax : The Karnataka High Court set aside the impugned order after finding that the entire tax demand had been recovered despite an inter...

June 20, 2026 51 Views 0 comment Print

ITAT Deletes MAT Addition Because Convertible Debentures Were Not Compound Financial Instruments

Income Tax : The ITAT Mumbai held that the assessee's convertible debentures lacked the liability component required for classification as Comp...

June 20, 2026 45 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 49203 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


Taxation Laws (Amendment) Ordinance, 2019 – Key Changes

September 26, 2019 10737 Views 0 comment Print

HIGHLIGHTS OF THE TAXATION LAWS (AMENDMENT) ORDINANCE, 2019 The President has promulgated an Ordinance dated 20 September, 2019 to amend the Income-tax Act, 1961 and the Finance (No.2) Act, 2019. The Ordinance promulgated is THE TAXATION LAWS (AMENDMENT) ORDINANCE, 2019, hereafter referred to as “the Ordinance”. The Ordinance shall come into force at once unless […]

Tax implication of Taxation Laws (Amendment) Ordinance, 2019

September 26, 2019 3942 Views 0 comment Print

Analysis of tax implication on ‘The Taxation Laws (Amendment) Ordinance, 2019 dated 20th September, 2019 The CBDT has introduced new section , Sec. 115BAA – Tax on income of certain domestic companies where at the option of the assessee, may compute tax @ 22% plus surcharge and cess (effective tax rate comes to 25.17%) from the […]

Client not bound by concession in law contrary to statutory rules made by his lawyer before a judicial authority

September 26, 2019 3393 Views 0 comment Print

Director of Elementary Education, Odisha & Ors. Vs Pramod Kumar Sahoo (Supreme Court) We have heard learned counsel for the parties and find that the distinction between Trained Matric Teacher and Untrained Matric Teacher has not been appreciated by the Tribunal and the same error was committed by the High Court as well. The concession […]

International Taxation – Introduction to Transfer Pricing

September 26, 2019 51774 Views 0 comment Print

In our recent discussions, we had come across that many of the business people and few of the professionals were not aware/familiar with the Transfer Pricing (TP) provisions and the related compliances. This document is intended to provide the basic knowledge of the same.

Deduction under section 80EEB of Income Tax Act

September 26, 2019 46935 Views 5 comments Print

Currently, with an aim to promote the electric vehicle market, the Government is coming up with various exemption, deductions and rates cuts. One such step is the insertion of new deduction section 80EEB in the Income Tax Act, 1961. Newly introduced section 80EEB provides deduction in respect of interest paid on loan taken from the financial institution […]

Recent Income Tax Changes by Taxation Laws (Amendment) Ordinance, 2019

September 26, 2019 4455 Views 0 comment Print

DIRECT TAX HIGHLIGHTS Benefits have been announced by Finance Minister in order to boost the economy. A gist on them has been provided below for your ease of reference: For Existing Domestic Companies Reduce the Corporate tax rate for Domestic Companies from 30% to 22% (excluding surcharge & cess) subject to the condition that they […]

Roll out of facility to access e-assessment records

September 26, 2019 1227 Views 0 comment Print

A new column named Assessment Proceedings is provided in List of Assigned Internal Audit Cases grid. Clicking on View hyperlink will open the closed Assessment Proceedings (that is the work item) screen in read-only mode (similar to Assessment Work item being opened from Assessment module Status Monitor screen).

Time for completion of assessment in OCM cases extended till 31.12.2019

September 26, 2019 1362 Views 0 comment Print

Further extension of time till 31.12.2019 for completion of assessment in OCM cases where no return has been filed in response to notice u/s 142(1) of Income -tax Act, 1961 and the assessments have to be completed u/s 144. F.No.225/363/2017-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Tax ********************** […]

Corrigendum to Taxation Laws (Ordinance), 2019 to correct errors

September 26, 2019 1260 Views 0 comment Print

CBDT issued corrigendum to Taxation Laws (Ordinance), 2019 in order to correct typographical errors.  MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 26 September, 2019 CORRIGENDA In the Taxation Laws (Amendment) Ordinance, 2019 (No. 15 of 2019) as published in a Gazette of India, Extraordinary, part II section 1, dated the 20th September, […]

Seeks to amend Notification No. 51/2019- Jurisdiction of income-tax authorities

September 26, 2019 1590 Views 0 comment Print

Seeks to amend Notification No. 51/2019 Dated 22/10/2014 – Jurisdiction of income-tax authorities vide Notification No. 73/2019-Income Tax dated 26th September, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 73/2019-Income Tax New Delhi, the 26th September, 2019 (Income-Tax) S.O. 3469(E).—In exercise of the powers conferred by sub-sections (1) and […]

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