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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


ESOP Buyback in Unlisted Companies: Two-Tax Problem Employees Aren’t Prepared For

Income Tax : The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...

June 22, 2026 42 Views 0 comment Print

FAQs on Compounding of Offences under Income Tax Act, 1961

Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...

June 22, 2026 2169 Views 0 comment Print

FAQs on Exemption available from Capital gains under Income Tax Act, 1961

Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...

June 22, 2026 7062 Views 0 comment Print

FAQs on Disallowance of cash expenses or limit on cash transactions

Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...

June 22, 2026 4773 Views 0 comment Print

FAQs on ICDS (Income Computation and Disclosure Standards)

Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...

June 22, 2026 7530 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 192 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 6184 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 282 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 1866 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 3951 Views 1 comment Print


Latest Judiciary


Sales Tax Subsidy Linked to Capital Investment is Capital Receipt: ITAT Mumbai

Income Tax : The ITAT Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...

June 22, 2026 51 Views 0 comment Print

Section 263 Revision Invalid as AO Had Already Examined Key Issues: ITAT Visakhapatnam

Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...

June 22, 2026 57 Views 0 comment Print

Section 80P Deduction Denied as No Valid Return Was Filed: ITAT Visakhapatnam

Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...

June 22, 2026 54 Views 0 comment Print

Foreign Tax Credit Allowed as Delayed Form 67 Filing Is Procedural: ITAT Visakhapatnam

Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...

June 22, 2026 57 Views 0 comment Print

Reassessment Quashed as AO Relied on Borrowed Satisfaction Without Independent Analysis

Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...

June 22, 2026 57 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 49560 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 789 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 615 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 234 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 192 Views 0 comment Print


Assessment u/s 153A in absence of incriminating material was not valid

April 27, 2019 1269 Views 0 comment Print

Since assessment originally made was unabated on the date of search and  assessment under section 153A was framed without any incriminating material found during the course of search,therefore, the same was not valid.

Income Tax Department continues search action in J&K Region

April 26, 2019 1089 Views 0 comment Print

Income Tax Department conducted search and seizure operations at 5 locations in the Kashmir Valley on 25.04.2019. The searches were carried out against a group which is a monopolistic wholesale distributor of pharmaceuticals in the Kashmir Valley.

Changes in ITR Forms for A.Y 2019-20

April 26, 2019 9582 Views 6 comments Print

The Income-tax Department has notified ITR Forms for A.Y 2019-20. The forms introduced seek more details as compared to previous years. Below is a list of changes brought in ITR Forms in simplified form including additional details required under each category of taxpayer. Also Read- CBDT notifies ITR for A.Y. 2019-20 / F.Y. 2018-19 and […]

TDS Rate Chart for AY 2020-21 / FY 2019-20

April 26, 2019 53160 Views 4 comments Print

The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. Various TDS rates on various incomes have been prescribed under the Income-tax Act. This write up […]

Mere delay in TDS deposit in time is offense sufficient to attract Section 276B

April 26, 2019 4179 Views 1 comment Print

Golden Gate Properties Ltd Vs DCIT (Karnataka High Court) Section 278AA makes it clear that in order to get over the penal consequences that follow on account of non-payment of tax deducted at source, it is open for the accused persons to come clean of the said charge by showing reasonable cause for failure to […]

Normal Tax paid cannot be adjusted against Tax on Income disclosed under IDS

April 26, 2019 2253 Views 0 comment Print

Advance tax, self assessed tax and TDS paid prior to filing of declaration, should not be adjusted towards discharge of assessees liability to pay tax, surcharge and penalty under the scheme of Income Tax Declaration Scheme, 2016 in absence of any specific provision in the scheme, granting benefit of the self assessed tax or advance tax under the Act.

Claim of deduction accepted by AO despite unequivocal language of Act is erroneous U/s. 263

April 26, 2019 867 Views 0 comment Print

Claim of deduction accepted by the AO despite unequivocal language of the Act, in our view, is erroneous as contemplated under s. 263 of the Act. Such error on the part of the AO has caused definite prejudice to the interest of the Revenue.

Revised Format of Form 16 (Salary Certificate)

April 26, 2019 9681 Views 0 comment Print

The Central Board of Direct Taxes has notified the changes in Form 16 (TDS Deduction Certificate) issued by Employer. The new changes would be effective from May 12, i.e. before the last date for issue of Form 16. Read- CBDT notifies detailed format of Salary Certificate | Form No. 16 | Form No. 24Q The […]

CBDT notifies India-USA agreement on exchange of Country-by-Country reports

April 25, 2019 2652 Views 0 comment Print

S.O.1653(E).—Whereas an Inter-Governmental Agreement for Exchange of Country-by-Country Reports was entered into by the Government of the Republic of India and the Government of the United States of America, which was signed at New Delhi on 27th day of March, 2019 (hereinafter referred to as the said Agreement and enclosed herewith as Annexure);

80C Limits Have Not Increased but Your Savings Can, Here’s How?

April 25, 2019 4710 Views 0 comment Print

Like every year, this time too, taxpayers were hoping for announcements that would reduce their tax burden. One notable speculation was that the government would use the opportunity to please the salaried taxpayers by enhancing the limits for deduction under Section 80C. The wishlist of the common man was simple – increase the present Section […]

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