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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 435 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 2190 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 4914 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 7593 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 Bogus LTCG Addition in absence of Independent Inquiry & Corresponding Bank Credits

Income Tax : The ITAT held that the Assessing Officer failed to produce any material establishing a connection between the assessee and the all...

June 23, 2026 9 Views 0 comment Print

ITAT Reduces Profit Estimation to 3% as 8% Was Excessive for Electronics Trading Business

Income Tax : The ITAT held that estimating profit at 8% on deposits in undisclosed bank accounts was excessive considering the nature and margi...

June 23, 2026 9 Views 0 comment Print

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 45 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 48 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 48 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 49638 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


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.

No Deemed Dividend U/s. 2(22)(e) If Assessee is not a Shareholder in Payer Company

March 12, 2018 2538 Views 0 comment Print

Mr. Tushar Kothari Vs. DCIT (ITAT Delhi) The intention behind enacting provisions of Section 2(22)(e) is that closely held companies (i.e. companies in which public are not substantially interested), which are controlled by a group of members, even though the company has accumulated profits would not distribute such profit as dividend because if so distributed […]

Launch of Income Tax Business Application – Investigation Module Phase 4

March 12, 2018 2796 Views 0 comment Print

This is in reference to the subject mentioned above. Phase 4 of the Investigation Module has been rolled out on 12.03.2018.

Section 54/ 54F Flat booked with builder can be considered as construction of flat

March 12, 2018 29442 Views 6 comments Print

ACIT Vs. Sh. Vineet Kumar Kapila (ITAT Delhi) ITAT held that booking of flat with the builder has to be treated as construction of flat by the assessee and hence period of three years would apply for construction of new house from the date of transfer of long term capital asset. Therefore, the Ld. CIT(A) has […]

Disallowance of expenses cannot be made by mere intimation U/s. 143(1)(a)

March 11, 2018 6921 Views 0 comment Print

Bajaj Auto Finance Ltd. Vs. CIT (Bombay High Court) While mere making of provision for bad debts will not by itself (on application of amended law) entitle the party to deduction, yet it would be a matter where the assessee should be given an opportunity to establish its claim. This by producing its evidence of […]

Deduction U/s. 54F cannot be denied for Non-completion of construction of new residential house within specified period of three years

March 11, 2018 3468 Views 0 comment Print

Once assessee had invested sale proceeds of existing asset for the purpose of construction of new house within the time period specified under section 54F he could not be denied the benefit under the section, even if the assessee finally could not construct the new house within the specified period of three years.

Registration U/s. 12AA cannot be denied for Non-submission of Form 10B at the time of registration

March 11, 2018 2154 Views 0 comment Print

At the outset, Learned A. R. submitted that assessee is running a school and had been claiming exemption u/s 10(23C)(iii) and now the assessee had applied for registration u/s 12AA which the CIT (Exemptions) has refused relying on the provisions of section 13(1)(c) of the Act.

Interest U/s. 244A on refund of excess SA tax payable from self-assessment tax payment date

March 11, 2018 4818 Views 0 comment Print

Refund under section 244A(1)(b) of the Act on self assessment tax is to be paid from the date of payment of self assessment tax till the date of grant of refund.

No disallowance U/s. 40(a)(ia) if recipient already paid taxes on sources of income

March 11, 2018 3381 Views 1 comment Print

Dis allowance under section 40(a)(ia) on the ground that the assessee had failed to deduct the tax at source on payment made was not justified as the recipient had already paid the taxes on the sources of income and due certificate was also furnished by the assessee.

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