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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 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

ITAT Rejects Bogus LTCG Addition as No Independent Enquiry Was Conducted

Income Tax : ITAT Ahmedabad held that an addition under Section 68 cannot be sustained solely on information received from the Investigation Wi...

June 25, 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 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


All About Unit-linked insurance plan (ULIP)

November 9, 2015 29758 Views 10 comments Print

Discover the benefits of a Unit-linked insurance plan (ULIP). Get the best of both insurance and investment in one integrated plan.

Donations received by a wholly religious trust cannot be taxed u/s 115BBC merely because trust also involved in charitable/Spiritual activity

November 8, 2015 7760 Views 0 comment Print

Delhi High Court held In the case of CIT (Exemption) vs. Bhagwan Shree Laxmi Nariandham Trust that anonymous donations received by a wholly religious trust are exempt u/s 115BBC. Mere the trust deed have clauses related to charitable activities along with organizing spiritual seminars

Interpretation of Notification-83, 2015 in respect of Arm's Length Range Concept

November 8, 2015 4980 Views 0 comment Print

Notification 83/2015 in respect of Income Tax Rules, 1962 dated 19th October, 2015 Applicable for determination of arm’s length price of transactions from AY 2015-16 onwards; Applicable for International Transactions as defined u/s 92B & Specified Domestic Transactions as defined u/s 92BA of Income Tax Act. Overview along with steps to incorporate amended Rule 10B […]

Disclosure of different due date in filed return from that claimed in reassessment proceedings amount to non-disclosure of full facts

November 8, 2015 1399 Views 0 comment Print

The ITAT Delhi in the case of ITO vs. Shree Rajeev Goenka that assessee cannot be said to make full and correct disclosure of all the facts if the return of income due date which he mentioned in return filed is different from the due date he claimed during reassessment proceedings.

Higher warranty provision cannot be disallowed without examining basis/working of claim

November 8, 2015 1776 Views 0 comment Print

The ITAT Bangalore in the case of Hewlett Packard India Sales P. Ltd held that creation of warranty Provision which is much higher than previous years provision cannot be disallowed without examining the scientific basis used by the assessee in working out the same.

ITAT doubts exemption U/s. 54EC allowed by Bombay HC in Ace Builder against short-term capital gains computed u/s 50

November 7, 2015 1999 Views 0 comment Print

Correctness of law laid down by Bombay High Court in Ace Builder 281 ITR 210 that deduction u/s 54EC is available to short-term capital gains computed u/s 50 doubted by ITAT Mumbai in the case of ITO Vs Legal Heir of Shri Durgaprasad Agnihotri although it has followed the Judgment of Bombay High Court as required to maintain judicial discipline.

Revision u/s 263 permitted for rectification of mistake apparent from records

November 7, 2015 3683 Views 0 comment Print

Infinity Infotech Parks Limited vs. DCIT (ITAT Kolkata) Revision u/s 263 is duly authorized where there is a mistake apparent from the records which itself proves that the order passed on this issue by the Assessing Officer was erroneous as well as prejudicial to the interest of the revenue.

Import expenses on machinery which is vital to manufacturing is Capital Expenditure

November 7, 2015 2246 Views 0 comment Print

Delhi High Court held In the case of CIT vs. Modi Rubber Ltd. that in present case, it is clear that the two Banbury mixers have been described by the Assessee itself as equipment used for mixing natural rubber, synthetic rubber, carbon black, chemicals and other raw materials

S. 194J Wheeling charges paid for electricity transportation not liable to TDS

November 7, 2015 2295 Views 0 comment Print

Delhi High Court held In the case of CIT vs. M/s Delhi Transco Ltd. that as per BPTA agreement between DTL and PGCIL there is transportation of the electricity from PGCIL to DTL, through the equipment

Interest on Loan taken for Machinery allowable from the date it put to use

November 7, 2015 2021 Views 0 comment Print

ITAT Ahmedabad held In the case of Ashima Dyecot Limited vs. DCIT that interest on capital borrowed for plant & machinery which already has put to use for commercial production is allowed u/s 36 (1) (iii). In the given case,

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