Follow Us:

Income Tax

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 339 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 2187 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 7116 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 4896 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 7590 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 207 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 3957 Views 1 comment Print


Latest Judiciary


ITAT Deletes Additions as Transactions Belonged to Separate Partnership Firms with Different PANs

Income Tax : ITAT Guwahati held that additions could not be sustained where the transactions related to a separate partnership firm with a diff...

June 23, 2026 12 Views 0 comment Print

No Section 56(2)(viib) Addition if Share Premium Difference Fell Within 10% Safe Harbour: ITAT Delhi

Income Tax : ITAT Delhi held that where the variation between the issue price and fair market value is within the 10% safe harbour under Rule 1...

June 23, 2026 18 Views 0 comment Print

ITAT Quashes Assessment as Section 143(2) Notice Was Issued by Non-Jurisdictional AO

Income Tax : ITAT Delhi held that a notice under Section 143(2) issued by a non-jurisdictional Assessing Officer without a valid transfer order...

June 23, 2026 9 Views 0 comment Print

No Section 69A Addition for Cash Deposits Explained by Disclosed Instrument Charges

Income Tax : The ITAT held that cash deposited during demonetization was adequately explained through instrument charges consistently disclosed...

June 23, 2026 18 Views 0 comment Print

AMP Expenditure Allowed as No Reimbursement Was Proved: ITAT Delhi

Income Tax : The ITAT held that advertisement and brand promotion expenses incurred by the distributor were for its own business and were not s...

June 23, 2026 39 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 49632 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 792 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 621 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 240 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 201 Views 0 comment Print


CIT can initiate suo moto proceedings U/s. 263 where AO takes a wrong decision

March 15, 2018 1533 Views 0 comment Print

Cochin International Airport Ltd appeal: The Commissioner is empowered to initiate suo moto proceedings under section 263 where the AO takes a wrong decision

10 Important Income Tax Change with effect from 1st April 2018 ( FY 18-19 )

March 14, 2018 91377 Views 18 comments Print

As a taxpayer we need to be aware of the tax proposals of this year’s Union Budget as they are going to impact our earnings as well as the day-to-day lives from the upcoming financial year (2018-2019). Here we are taking a look at 10 such tax rules which will change from 1st April 2018.

CBDT amends Income Tax Notification No. 49/2015 with retrospective effect

March 13, 2018 4881 Views 0 comment Print

CBDT amends Income Tax Notification No. 49/2015 with retrospective effect vide notification no. 14/2018 dated: 13th March, 2018

Order U/s. 201(1) cannot be passed after expiry of limitation period

March 13, 2018 12432 Views 0 comment Print

Vodafone Cellular recent appeal: No order under section 201(1) of the Act shall be passed after expiry of the limitation period treating assessee-in-default for non-deduction of tax at source

HC upheld penalty U/s. 271D for Accepting Deposits from Staff Members in Cash as Assessee fails to prove reasonable cause

March 13, 2018 1686 Views 0 comment Print

The Revenue is in appeal against the common order of the Tribunal for the assessment years 2005-06 and 2006-07. The issue relates to acceptance of loans and deposits other than by way of Cheque or Draft, in violation of Section 269SS of the Income Tax Act, 1961 [for brevity the Act] and the resultant penalty levied under Section 271D, totaling the amounts so accepted.

Analysis of CBDT’s Recent Instruction on Plenary & Coterminous Powers of CIT (Appeals)

March 13, 2018 9231 Views 2 comments Print

The CBDT has very recently issued an Instruction bearing F.No. DGIT(Vig.)/HQ/SI/Appeals/2017-18/9959, dated 8.3.2018, to the CIT(Appeals), concerning the Plenary & Coterminous Powers of CIT(Appeals).The crucial question in this regards, is, as to whether the plenary, coterminous and co-extensive powers of the CIT(Appeals), with that of the Assessing Authority, are to be exercised in judicious disposal of appeals in order to provide appropriate appellate reliefs to the assessees or these are to be exercised with a mindset of curing the technical and legal defects of the Assessing Authorities, in the assessments, so as to provide second opportunity to the Revenue Authorities, in further strengthening their assessments, with a view to deprive the assessees of their appellate reliefs?

Post Union Budget 2018 Suggestion by Society of Auditors

March 13, 2018 12282 Views 1 comment Print

The Hon’ble Finance Minister presented the Budget to the nation on the 1st February, 2018 and the Managing Committee of the Society thought it appropriate to conduct a brain storming session on the budgetary proposals, within the sub group formed for the purpose and to prepare a concise Post Budget Memorandum to be submitted to the Government, for its consideration and possible action.

Disputed Commission cannot be taxed unless received

March 12, 2018 10719 Views 1 comment Print

DCIT Vs. S.V.S Prop mart Pvt. Ltd. (ITAT Delhi) Assessing Officer has mentioned in the Assessment order about the submissions made by the assessee that the commission was not received by the assessee company on account of dispute with the said party. Since the commission income has not been settled and crystallized, the same has […]

Addition U/s 68 justified for Receipts from non-existent broker

March 12, 2018 1380 Views 0 comment Print

Assessing officer treated the receipts as unexplained cash credit for the reason that M/s. National Multi Commodity Exchange of India had confirmed that M/s. Vatika Merchants (supra) was expelled from the exchange long prior to the transactions in question.

It is not for the TPO to decide best business strategy for assessee

March 12, 2018 2766 Views 0 comment Print

It is not for the TPO to decide the best business strategy for the assessee. The Hon’ble High Court also held that This whimsical fixation by the TPO amounts to an arbitrary and unbridled exercise of power.

Search Post by Date
June 2026
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930