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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 Relief up to 12 Lakh in New Tax Regime, Yet ITR Filing is Still Mandatory

Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...

June 24, 2026 627 Views 8 comments Print

11 Situations Where Filing ITR Is Mandatory for AY 2026-27

Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...

June 24, 2026 2250 Views 0 comment Print

Tax Benefits Available to Senior Citizens

Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...

June 24, 2026 710664 Views 150 comments Print

FAQs on Assessments under Income-tax Law

Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...

June 24, 2026 93735 Views 7 comments Print

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 495781 Views 165 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 1890 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 3972 Views 1 comment Print


Latest Judiciary


ITAT Deletes Section 69A Addition as Cash Deposits Were Backed by Cash-in-Hand

Income Tax : The ITAT Surat held that cash deposited during demonetisation was sufficiently explained through opening cash-in-hand, prior bank ...

June 25, 2026 9 Views 0 comment Print

ITAT Ranchi Allows Full Leave Encashment Exemption as CBDT Raised Limit to ₹25 Lakh

Income Tax : The ITAT Ranchi held that a retired non-government employee was entitled to exemption under Section 10(10AA)(ii) for the entire le...

June 25, 2026 21 Views 0 comment Print

ITAT Allows Section 80P Deduction on Interest from Statutory Deposits with Co-operative Banks

Income Tax : The ITAT Bangalore held that interest earned on compulsory statutory deposits made under the Karnataka Souharda Sahakari Act const...

June 25, 2026 27 Views 0 comment Print

Section 148 Reopening Set Aside as Loose Paper Dated After Sale cannot Justify Reassessment

Income Tax : The Gujarat High Court quashed a reassessment notice issued under Section 148 after finding that a loose paper seized from a third...

June 25, 2026 39 Views 0 comment Print

Gujarat HC Sets Aside Reopening as High-Value Bank Credits Alone Cannot Justify Reassessment

Income Tax : The Gujarat High Court held that reassessment cannot be sustained merely because of high-value bank transactions without evidence ...

June 25, 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 49968 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 879 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 669 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 213 Views 0 comment Print


Reopening u/s 147 based on mere office note of predecessor AO not permissible

December 22, 2015 3580 Views 0 comment Print

This was a case where the original assessment was completed under Section 143 (3). In other words there was a complete scrutiny of the accounts and all the affidavits of the donors furnished by the Assessee pursuant to the questionnaires issued to him by the AO. In the absence of any adverse

‘Month’- Whether Calendar Month or Lunar Month

December 22, 2015 8988 Views 0 comment Print

The word month has been mentioned in the Income tax law in number of provisions. However the term has not been defined in the Income tax law. Interpretation of the term poses number of issues especially in the interest calculation. However to understand the controversy around it, we shall have to start the journey from genesis as under:

Interest under Income Tax- Calendar Month or 30 Day Month?

December 22, 2015 4406 Views 0 comment Print

CIT Vs. Arvind Mills Limited (Gujarat High Court)- Whether ITAT was right holding that the assessee was entitled to interest under Section 244A of the Act for both the months when the tax was paid and when the tax refundable was adjusted irrespective of the period between such events?

Trade Discount on sales after considering commercial expediency & accrual method of accounting is allowable claim

December 21, 2015 1152 Views 0 comment Print

In the case of ACIT Vs. Rukamani Iyer Mumbai Bench of ITAT held that the claim has to be judged in the light of commercial expediency. Relying upon the judgment of CIT v Associated Electrical Agencies {2004} 266 ITR 63 (Mad.)

Where assessee has dependent agent & fixed place of business in India he is deemed to be PE as per Article 5 (1) of Indo US tax treaty

December 21, 2015 2207 Views 0 comment Print

In the case of Travelport LP USA Vs. DDIT Delhi Bench of ITAT observed that assessee has a dependent agent in form of distributor in India and held that assessee has a business connection in India u/s 9(1) (i) of the act and its income is deemed to accrue or arise in India.

ITAT explains when an individual or a HUF can be treated as ‘not ordinarily resident’ in India

December 21, 2015 2815 Views 0 comment Print

It is evident from the word ‘or’, occurring for the first time in sub-clause (a) or (b) of clause (6) of section 6, that the two conditions contemplated in those sub-clauses are alternate and these are not cumulative. The fulfillment of either of the conditions would be sufficient to treat an individual or a Hindu undivided family as ‘not ordinarily resident’ in India.

Withdrawal of Circular cannot be retrospective: TDS not deductible on Commission paid to non-resident agent Outside India

December 21, 2015 4180 Views 0 comment Print

CIT Vs. Gujarat Reclaim & Rubber Products (Bombay High Court) (a) Whether on the facts and in the circumstance of the case and in law, the Tribunal was justified in holding that commission payments made to non­resident sales agents on which no tax was deducted is not disallowable u/s. 40(a)(i)?

Transfer Pricing adjustment cannot be made in respect of transactions with unrelated third parties

December 21, 2015 2030 Views 0 comment Print

CIT Vs. V/s. M/s. Thyssen Krupp Industries India Pvt. Ltd. (Bombay High Court) Whether on the facts and the circumstance of the case and law, the Tribunal was justified in law in restricting the Transfer Pricing (TP) adjustment only to the transaction between the Associated Enterprises (AEs.)?

Invocation of Section 263 on mere DCIT Suggestion invalid

December 21, 2015 706 Views 0 comment Print

For invoking revisionary powers the Commissioner of Income Tax has to exercise his own discretion and judgment. Here the Commissioner of Income Tax has invoked the provisions of section 263 at the mere suggestion of the Dy. Commissioner of Income Tax

Section 263- Revision Order- AO cannot examine the aspect which CIT has not asked him to examine

December 21, 2015 803 Views 0 comment Print

Abani Kumar Dutta Vs. ACIT (ITAT Kolkata) Argument of Ld. Counsel for the assessee that the CIT in his revision order u/s 263 of the Act only directed the AO to examine the applicability of sec. 194G read with section 40(a)(ia) of the Act and not genuineness of the expenditure.

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