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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 51 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 285 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 54 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


No penalty for claim of exemption u/s 54 instead of section 54F

February 28, 2019 3081 Views 0 comment Print

Penalty under section 271(1)(c) could not be levied as assessee had proved that there was a reasonable cause for making the wrong claim under section 54 instead of section 54F.

Income Tax Amendments vide Finance Act, 2019

February 28, 2019 44421 Views 6 comments Print

Income tax rate for company as well as for individual is same as of financial year of 2018-19. a) Corporate tax rate is 30%, surcharge is 12%, Health and Education cess @ 4%. Effective tax rate comes to 34.944%. Company whose turnover / gross receipt does not exceed 250 crore in financial year 2016-17, corporate […]

TDS not deductible on Roaming Charges paid by Telecom Company

February 28, 2019 1305 Views 0 comment Print

ITAT held that roaming charges paid by the appellant to other telecom companies are not covered under ‘fee for technical service’ and such payments are out of the purview of TDS provision of 194J of the Act. 

Deduction U/S 54 Claimed Against House Boat, Not Acceptable

February 28, 2019 1104 Views 0 comment Print

In absence of registered sale deed, the house boat purchased cannot be said as residential house and hence deduction u/s 54 cannot be allowed. Further The same cannot be equated with the residential house which is immovable property and hence deduction u/s 54 not allowed.

Promotion of 70 officers in the grade of ACIT on ad-hoc basis

February 28, 2019 5751 Views 0 comment Print

Office Order No. 43 of 2019The President is pleased to appoint the following Income Tax Officers, presently posted in the region shown against their names. in the grade of Assistant Commissioner of Income Tax (ACIT) on ad-hoc basis for the vacancy year 2018 in the Level 10 in the pay matrix Rs. 56100-177500/- for a period of one year with immediate effect or until further orders, whichever is earlier.

Panel to overhaul Direct Tax law seeks 3 months extension

February 28, 2019 1347 Views 0 comment Print

The term of the Task Force is extended by three months, i.e., the Task Force shall now be required to submit its report by 31 .05.2019.

HC passes severe strictures against DCIT for illegal tax recovery

February 28, 2019 2202 Views 1 comment Print

The court ordered the refund due for AY 1993-94 and 1995-96 to be granted to the assessee along with appropriate interest and also ordered a sum of INR 1.50 Lakhs to be paid to the assessee on account of inefficiency and lapse on the part of the department.

Income Tax Department hits at terror financing activities in J&K Region

February 28, 2019 966 Views 1 comment Print

Income Tax Department hits at terror financing activities in J&K Region; Conducts sensitive search action at various place. The Head of a prominent Organisation allegedly indulging in anti-national activities along with his associates were covered in a sensitive search action by the Income Tax Department today. Ministry of Finance Income Tax Department hits at terror […]

Link your PAN with your Bank Account- No Refund if A/c not linked

February 28, 2019 28410 Views 5 comments Print

Link your PAN with your Bank Account… Get your refund directly, swiftly and securely in your bank account Income Tax Department will Issue only e-refunds from 01.03.2019 Refunds will be given only to bank accounts (savings/current/cash/OD) which are linked with PAN. To check if your bank account is linked with your PAN, login to e-filing portal, go […]

Addition for non-existent income from carbon credits is not acceptable

February 27, 2019 771 Views 0 comment Print

Assessee submitted that they have not received any carbon credit during the year under consideration i.e. AY 2012-13. Assessee submitted that addition made by AO on account of non-existence income ought to be deleted.

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