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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


TDS cannot be adjusted against Payment made under VDIS

April 18, 2017 1695 Views 0 comment Print

This Petition under Article 226 of the Constitution of India challenges a communication dated 18th March, 1998 of the Commissioner of Income Tax, Mumbai City­ III and the Circular dated 25th July, 1997 of the Central Board of Direct Tax (CBDT).

Delhi HC Clarifies Limitation period for Appeal filing by Revenue

April 18, 2017 2214 Views 0 comment Print

The central question that arises for consideration before this Bench is whether the words “the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner” in Section 260A (2) (a) of the Income Tax Act, 1961 (‘Act’) mean only the ‘jurisdictional’ Principal or Chief Commissioner of Income-tax (CIT) or could it include any CIT including the […]

Bogus Purchases: GP estimate should be fair, honest and rational

April 18, 2017 3216 Views 0 comment Print

GP ratio needs to be estimated which definitely involved some estimation/guess work but the said estimation/guess work should be fair, honest and rational keeping in view factual matrix of the case and cannot be arbitrarily applied at the discretion of authorities.

Surgical strike on cash- accepting cash of Rs. 2 Lakh and more is an offence now- Section 269ST

April 18, 2017 28194 Views 7 comments Print

In India, the quantum of domestic black money is huge which adversely affects the revenue of the Government creating a resource crunch for its various welfare programmes. Black money is generally transacted in cash and large amount of unaccounted wealth is store and used in form of cash.

Collect Form 12BB from employees -Recent changes in Salary return-Form 24Q

April 18, 2017 68748 Views 15 comments Print

CBDT had in its Finance Act, 2015 had introduced a new section 192(2D) of the Income-tax Act, (‘the IT Act’) wherein the person responsible for making payment of salary (employer) was obliged to collect the necessary evidence or proof in Form 12BB to allow any claim for any deduction and/or tax saving investments.

All about ITR-7 as applicable for A.Y. 2017-18

April 17, 2017 27441 Views 3 comments Print

ITR 7 Form for A.Y. 2017-18 can be used by persons including companies who are required to furnish return U/s. 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F).

Aayakar Sewa Kendras in Pr.CCIT regions during F.Y. 2017-18

April 17, 2017 1650 Views 0 comment Print

It is requested that 4-5 suitable offices may kindly be identified at the earliest so that DOMS can finalize the list for the approval of the Board within the stipulated time frame and process the proposal for administrative approval and financial sanction.

Input Tax Distributor – Concept and procedure under GST Law

April 17, 2017 6828 Views 1 comment Print

In terms of section 2 (61) of CGST bill Input Service Distributor (ISD) is an office of supplier which receives tax invoice towards receipts of input services and distributes the credit of central tax, state tax or union territory tax paid on the said services under a prescribed documents to its own ‘recipient office of credit’ who is the supplier under the same PAN as that of ISD.

Finance Act 2017: Rules of doing Business with effect from 01/04/2017

April 17, 2017 9279 Views 1 comment Print

There had been waves of changes since beginning of calendar year 2016 in Rules followed by Finance Act, 2016 and now further reinforced by the Finance Act, 2017. In fact, every business person is trying to adjust to the new law in Direct Taxes at the earliest, without loss of time, so as to be in GST-ready mode wef 01/07/2017, as per the present roadmap .

Income tax withheld abroad in respect of which no foreign tax credit is admissible, cannot be allowed U/s. 37(1)

April 16, 2017 3663 Views 0 comment Print

These cross appeals are directed against the order dated 29th December 2015 passed by the CIT(A) in the matter of assessment under section 143(3) of the Income Tax Act, 1961, for the assessment year 2012-13. Both of these appeals are being disposed of, as a matter of convenience, by this consolidated order.

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