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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


Taxation of Capital Gain in India – FAQs

Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...

June 24, 2026 495616 Views 165 comments Print

Carry Forward and Set Off of Losses with FAQs

Income Tax : Learn how taxpayers can set off losses against taxable income and carry forward unadjusted losses under the Income-tax Act. The FA...

June 24, 2026 1569886 Views 129 comments Print

Clubbing of Income under Income Tax Act, 1961 with FAQs

Income Tax : Learn when the Income-tax Act requires another person's income to be included in your taxable income. The FAQs explain clubbing pr...

June 24, 2026 932950 Views 80 comments Print

FAQs on Income from house property

Income Tax : Learn how rental income is taxed, who is treated as the owner, and how deductions under Section 24 are computed. The guidance also...

June 24, 2026 556927 Views 67 comments Print

Taxability of Gift received by an individual or HUF with FAQs

Income Tax : Learn when monetary, immovable, and movable property gifts become taxable under the Income-tax Act. The FAQs explain exemptions, t...

June 24, 2026 401772 Views 61 comments 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 219 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 6202 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 288 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 1887 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 3966 Views 1 comment Print


Latest Judiciary


Section 153C Assessment Set Aside as AO Failed to Record Year-Wise Satisfaction: ITAT Delhi

Income Tax : The ITAT Delhi held that a single satisfaction note covering multiple assessment years without identifying year-wise incriminating...

June 24, 2026 15 Views 0 comment Print

ITAT Quashes Section 153C Assessments as Consolidated Satisfaction Note for Multiple Years Was Invalid

Income Tax : The ITAT Delhi held that a single consolidated satisfaction note covering multiple assessment years without year-wise incriminatin...

June 24, 2026 15 Views 0 comment Print

ITAT Deletes Section 68 Addition as Sale Proceeds Were Realisation of Earlier Investment

Income Tax : The ITAT held that Section 68 could not be applied to sale proceeds received from investments already recorded in the books in an ...

June 24, 2026 15 Views 0 comment Print

Bangalore ITAT Converts Section 69A Addition into Estimated Business Income; Entire Sales Receipts Cannot Be Taxed

Income Tax : Bangalore ITAT held that customer deposits representing sale proceeds could not be taxed in full as unexplained money under Sectio...

June 24, 2026 Views 0 comment Print

Bangalore ITAT Deletes Section 69A Addition and Allows Section 80-IA Deduction; Consistency Principle Applied

Income Tax : Bangalore ITAT deleted the addition under Section 69A after holding that the assessee had satisfactorily explained the source of c...

June 24, 2026 36 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 49848 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 870 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 642 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 249 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 210 Views 0 comment Print


Allow setting off of MAT credit for 10 Years after completion of period of exemption/deduction U/s. 10A to 10C & 80-IA to 80-IE

January 20, 2018 5424 Views 0 comment Print

It is suggested that for setting off of MAT credit, a fresh period of 10 years be allowed after the completion of period of exemption under section 10A to 10C and deduction under section 80-IA to 80-IE under normal provisions of the Act provided it is the exclusive business of the assessee.

Clarify on MAT u/s 115JB: ICAI

January 20, 2018 9744 Views 1 comment Print

The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on various issues. These issues need to be clarified to reduce litigation before the appellate authorities, which is one of the aims of the Government.

ICAI Suggestions on Proposed amendment to Section 115JB(2A)

January 20, 2018 6225 Views 0 comment Print

MAT-Ind AS Committee placed its report dated 17 June 2017 providing recommendations on proposed amendments to the provisions of the Section 115JB of the Act in respect of Ind AS Compliant Companies.

Tax on distributed profits of domestic companies – Section115-O(1A)

January 20, 2018 23838 Views 0 comment Print

As per the provisions of Section 115-O of the Act, the domestic holding company will not have to pay DDT on dividends paid to its shareholders to the extent it has received dividends from its subsidiary company on which DDT has been paid by the subsidiary.

Amend Section 115QA to remove tax when holding results in losses due to foreign exchange fluctuation

January 20, 2018 6195 Views 0 comment Print

In view of the concerns faced by foreign investors after introduction of section 115QA, suitable amendments may be carried out in the Income-tax Act, 1961 so that foreign investors do not have to pay tax when their holding results in losses only due to foreign exchange fluctuation.

Taxes on buyback of Shares effected on or after 01.06.2016 needs clarification: ICAI

January 20, 2018 2589 Views 0 comment Print

As per the amendment to Explanation (ii) to section 115QA(1), (effective from 1.6.16), consideration received by company on issue of shares to be bought back is to be determined as per the Rules to be prescribed.

New regime (section 115TCA) may be made applicable for distributions on or after 1st June 2016

January 20, 2018 3015 Views 0 comment Print

The Finance Act, 2016 inserted section 115TCA to provide for transition of securitisation trusts from distribution tax regime to complete pass through regime (with TDS on distributions). However, the cut-off date between old and new regime is not clear.

Section 132B rws 245C(1)- Application of seized or requisitioned assets

January 20, 2018 1047 Views 0 comment Print

After search, as per amended provision by the Finance Act 2010, where assessee files application with Settlement Commission for settlement of his cases, the cash seized during search be permitted to be adjusted against the tax due as per the offer made by the assessee in the settlement application.

Section 115BBF – Concessional rate of tax @ 10% on income from patent – Issues to be addressed

January 20, 2018 27162 Views 2 comments Print

The Finance Act, 2016 has inserted section 115BBF to tax royalty income derived from worldwide exploitation of patents developed and registered in India @ 10%. It is a welcome move and would greatly boost the research and innovation environment in the country.

Continuance of earlier block assessment procedure is desirable: ICAI

January 20, 2018 933 Views 0 comment Print

Since block assessment has been discontinued, there is litigation as regards the year of tax ability of certain income/ assets discovered in search.

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