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


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 817194 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 81 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 99 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 154715 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 370059 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 3960 Views 1 comment Print


Latest Judiciary


Capital Contribution Held Explained as Partner Proved Source Through Land Sale: ITAT Hyderabad

Income Tax : The ITAT Hyderabad upheld deletion of a ₹68.75 crore Section 68 addition after finding that the partner had established the sour...

June 23, 2026 9 Views 0 comment Print

ITAT Orders Verification as Project Support Costs May Not Be Head Office Expenses

Income Tax : The Hyderabad ITAT restored the issue to the Assessing Officer to verify whether project support and business development costs qu...

June 23, 2026 21 Views 0 comment Print

Marriage Gift Cash Addition Upheld as Retention After Daughter’s Marriage Was Unexplained: ITAT Delhi

Income Tax : The ITAT Delhi held that cash claimed as marriage gifts could not be accepted where the assessee failed to explain why it remained...

June 23, 2026 30 Views 0 comment Print

Reassessment Quashed as Section 151 Approval Was Not Supplied Despite RTI Request: ITAT Delhi

Income Tax : The ITAT held that reassessment proceedings were invalid because the Revenue failed to provide the mandatory approval under Sectio...

June 23, 2026 54 Views 0 comment Print

ITAT Delhi Deletes Section 40(a)(ia) Disallowance as Travel Reimbursement Was Not FTS

Income Tax : The ITAT held that reimbursement of travel and conveyance expenses to foreign associated enterprises was not liable for disallowan...

June 23, 2026 60 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 49674 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 801 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 627 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


Deduction u/s 54F on more than one residential flats received by virtue of a development agreement is allowable

September 29, 2017 4593 Views 0 comment Print

Assessee was entitled to deduction u/s 54F of the Act in respect of more than one residential flats received by virtue of a development agreement. We find that this issue is now fairly covered by the decision of various High Courts in favour of the assessee.

Conduct of Assessment Proceedings electronically in time-barring scrutiny cases

September 29, 2017 23913 Views 1 comment Print

Assessment proceedings in following time-barring scrutiny cases, pending as on 1st October,2017 where hearing have not been completed, would be carried out through the ‘e-Proceeding‘ facility on ITBA-

Proposed Rule 39A to Increase unnecessary compliance burden: CAA Ahmedabad

September 28, 2017 19089 Views 12 comments Print

In our considered opinion, it appears that the proposal for introduction of a new Rule 39A in the Income-tax Rules, 1962 is not found to be fair. The implementation of the new rule will further increase the already existing heavy compliance burden on tax payers. Even the Form effectively requires periodic computation of income and expects tax payers to give reasons for less payment of advance tax compared to the earlier year

AO can not make addition for Bogus Purchase U/s. 69C if all purchase / sales transactions are part of regular books

September 28, 2017 10449 Views 0 comment Print

If the AO has not rejected the books of accounts and has only doubted the genuineness of the suppliers but not the genuineness of the purchases and if the payments are made by account payee cheques, s. 69C is not attracted. S. 69C cannot be applied where all purchase and sales transactions are part of regular books of accounts. The basic precondition for invoking s. 69C is that the expenditure incurred by the assessee should be out of books of accounts

Section 54/ 54F benefit cannot be denied for mere non registration of sale deed

September 28, 2017 8139 Views 1 comment Print

On the facts and circumstances of the case the Assessing Officer has erred in computing long term capital gain at Rs. 99,57,265/-. 2. That the Commissioner (Appeals) is wrong in not granting exemption under section 54 and 54F of the Income Tax Act on the amount invested for the purchase of residential plot and deposits made under capital gain in the Bank.

SC on Taxability of Interim Enhanced compensation & interest received

September 28, 2017 8157 Views 0 comment Print

In the present appeals, the only question that arises for consideration is as to whether the respondents-assessees who have received some amount of enhanced compensation as also interest thereon under an interim order passed by the High Court in pending appeals relating to land acquisition matter are liable to be assessed for income tax in the year in which it has been received or not.

Section 132A: SC on Disclosure of ‘reason to believe’ or ‘reason to suspect’

September 28, 2017 4755 Views 0 comment Print

The present appeal arises out of the order dated 23rd February, 2007 in ITA No.236/2007 passed by the Delhi High Court whereby the High Court has held that no substantial question of law arose for its consideration and it was merely a matter decided on the evidence on record.

Delhi HC issues guidelines in matters of reopening of assessments (Also Read SC Order)

September 28, 2017 3609 Views 0 comment Print

The Petitioner seeks the quashing of a notice dated 20th March, 2015 issued under Section 148 of the Income Tax Act (Act) by the Assistant Commissioner of Income Tax (hereinafter Assessing Officer AO) and the order dated 1st February, 2016 passed by the AO disposing of the objections filed by the Petitioner to the said notice.

Section 50C not applies if Assessee invests entire sale consideration in new house property U/s. 54F

September 28, 2017 5028 Views 0 comment Print

Provision of section 50C(1) of the Act are not applicable to section 54F for the purpose of determining the meaning of full value of consideration.

Section 54 not prescribe any condition vis-a-vis commencement of construction

September 28, 2017 1431 Views 0 comment Print

The only limitation prescribed by section 54 is that construction of new house ought to have been completed within a period of three years and said section does not prescribe any condition vis-a-vis the commencement of construction, therefore, assessee was entitled to deduction under section 54 even in respect of amount invested prior to the date of transfer of original asset.

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