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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


Tax Deducted at Source (TDS): FAQs

Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...

June 23, 2026 817518 Views 206 comments Print

Section 161: Foundation of Transfer Pricing Regime under Income Tax Act, 2025

Income Tax : Learn how Section 161 of the Income-tax Act, 2025 establishes the arm's length principle for international and specified domestic ...

June 23, 2026 102 Views 0 comment Print

Step-by-Step Guide to Capital Gains Account Scheme (CGAS): Rules, Types & Documentation

Income Tax : Learn why taxpayers must deposit unutilized capital gains into a Capital Gains Account Scheme (CGAS) before the ITR due date to pr...

June 23, 2026 150 Views 0 comment Print

Master Guide on Filing Income Tax Return: Everything You Need to Know

Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...

June 23, 2026 154745 Views 17 comments Print

Computation of Income Tax: FAQs & Examples

Income Tax : This guide explains how taxable income and tax liability are computed under the Income-tax Act, from Gross Total Income to the fin...

June 23, 2026 370317 Views 22 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 213 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 6199 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 1872 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 3963 Views 1 comment Print


Latest Judiciary


8% Profit Addition Deleted as Revenue cannot Change Consistent Accounting Method: ITAT Delhi

Income Tax : The ITAT Delhi held that the Revenue could not substitute the assessee's consistent method of revenue recognition with the Percent...

June 23, 2026 48 Views 0 comment Print

Gujarat HC Quashes Section 271D SCNs as12-Week Deadline Was Missed

Income Tax : The Gujarat High Court quashed the reinitiated penalty proceedings after the Assessing Officer failed to pass a fresh order within...

June 23, 2026 45 Views 0 comment Print

Income Tax Reopening Quashed as Section 31 of IBC Barred Fresh Tax Proceedings: Gujarat HC

Income Tax : The Gujarat High Court held that once the Resolution Plan was approved under Section 31 of the IBC, all tax liabilities not formin...

June 23, 2026 45 Views 0 comment Print

ITAT Deletes TP Adjustment as TNMM Was Consistently Accepted in Earlier Years

Income Tax : ITAT Ahmedabad held that the Transactional Net Margin Method (TNMM) remained the most appropriate method as there was no change in...

June 23, 2026 51 Views 0 comment Print

Gujarat HC Quashes Assessment as Section 68 Addition Was Made Without Reasons

Income Tax : The Gujarat High Court set aside the reassessment after finding that the Assessing Officer failed to provide specific reasons for ...

June 23, 2026 51 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 49707 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 807 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 636 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 243 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 207 Views 0 comment Print


Madras HC decision in Cairn India of exercise of Jurisdiction U/s. 263 by DIT

January 4, 2018 2034 Views 0 comment Print

A division bench of Madras High Court recently invalidated an assessment order against M/s. Cairn India Ltd. The primary object of the Assessee is to carry on exploration and production of oil and gas in India. For this purpose, it had acquired participating interest in various oil and gas blocks.

Compute working capital adjustment using OECD methods: ITAT upheld DRP direction

January 4, 2018 5775 Views 0 comment Print

Whether the observations of Honble DRP is right in directing the TPO to give working capital adjustment [using OCED methodology given in Annexure to chapter – 3 and applying SBI Prime Lending Rate (as on 30th June of the relevant financial year) as the interest rate] against the TPO order dated 16.01.2014 passed u/s 92CA(3) for A.Y. 2010-11.

Issues relating to Territorial Jurisdiction cannot be decided on the Administrative Side of CESTAT: Delhi HC [Read Order]

January 4, 2018 1863 Views 0 comment Print

It is obvious that the appeals should be listed on the judicial side, even if, there is an issue or debate with regard to the territorial jurisdiction of the Tribunal. Such matters cannot be decided on the Administrative side, by the Registry of the CESTAT, even when it is of the opinion that the appellants have not approached the right or correct Bench of the Tribunal having territorial jurisdiction.

India-Brazil DTAA amended WEF 6th day of August, 2017

January 4, 2018 3099 Views 0 comment Print

Central Government hereby notifies that all the provisions of amending Protocol entered into between India and Brazil shall have effect in the Union of India with effect from the 6th day of August, 2017.

No deduction allowed U/s. 43B of amount standing in ‘Sales-tax Recoverable A/c‟

January 3, 2018 5112 Views 0 comment Print

Whether the ITAT has committed an error of law in upholding the dis allowance of Rs. 3,08,79,171 in respect of Sales Tax Recoverable account, under Section 43B of the Income Tax Act?

No Penalty if income is assessed on estimate basis and addition is made on that basis

January 3, 2018 4053 Views 0 comment Print

. The provisions of section 271(1)(c) are not attracted in cases where income of the assessee is assessed on an estimate basis and addition is made on that basis. Even if the assessee is not able to substantiate the explanation, but his explanation is not lacking bona fide, and, therefore, we are of the view that it is not a fit where vigour of provisions of section 27 1(1) is attracted.

Addition U/s. 69 for Jewellery duly reflected in Books with evidenced source not sustainable

January 3, 2018 1557 Views 0 comment Print

The Kolkata bench of Income Tax Appellate Tribunal, in its recent order said that Investment in Jewellery cannot be treated as Unexplained when it is reflected in the books & the source of Fund is evidenced through Bank A/c.

Law on Exemption for Partners’ Share of Profit in Income of Firm

January 3, 2018 35397 Views 0 comment Print

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT), in Vinod Agarwal vs Pr.C.I.T.Central, has explained the law on income tax exemption for partners’ share of profit in the income of the firm in detail.

Demand notice of unpaid operational debt can be issued by a lawyer on behalf of operational creditor: SC

January 3, 2018 9222 Views 0 comment Print

The present appeals raise two important questions which arise under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the Code). The first question is whether, in relation to an operational debt

Extension of ad-hoc appointment of 169 ITOs to ACIT grade

January 3, 2018 2064 Views 0 comment Print

Order No. 3 of 2018 – Extension of the ad-hoc appointment of Income Tax Officers to the grade of Assistant Commissioner of Income Tax – reg. F.No. A-32013/1/2016-Ad.VI Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi. Dated the 3rd January, 2018. Order No. 03 of […]

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