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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


Latest Changes in ITR-1, ITR-2 & ITR-4 for A.Y. 2026-27

Income Tax : The revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...

June 13, 2026 168 Views 0 comment Print

Daily Backup Dilemma: Decoding “Electronic Mode” vs. “Computer System” under Income Tax Act 2025.

Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...

June 13, 2026 3558 Views 0 comment Print

Restricted Stock Units Taxation in India: Foreign Tax Credit, Form 67 & Reporting

Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...

June 13, 2026 354 Views 0 comment Print

Tax Treatment of Cash Credit U/s. 68, 69, 69A, 69B, 69C and 69D

Income Tax : This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section ...

June 13, 2026 193761 Views 1 comment Print

Minimum Alternate Tax (MAT) & Alternate Minimum Tax (AMT)

Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...

June 13, 2026 107144 Views 5 comments Print


Latest News


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 6094 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 249 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 1692 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 3795 Views 1 comment Print

Representation for timely release of e-filing utilities for ITR for AY 2026-27

Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...

May 13, 2026 3978 Views 0 comment Print


Latest Judiciary


Reopening Fails When AO Taxes a Different Income Than the One Recorded in Reasons

Income Tax : ITAT Delhi held that reassessment cannot survive when additions are made on issues unrelated to the reasons recorded for reopening...

June 13, 2026 81 Views 0 comment Print

ITAT Quashes Reassessment: Only Profit Element Matters, Not Entire Commodity Transaction Value

Income Tax : The Delhi ITAT held that reassessment initiated beyond three years was invalid because the alleged escaped income represented by p...

June 13, 2026 78 Views 0 comment Print

Telangana HC Dismissed Income Tax Writ Due to Alternate Remedy

Income Tax : The Telangana High Court refused to interfere with the assessment order in writ proceedings, citing the availability of an effecti...

June 13, 2026 84 Views 0 comment Print

ITAT Upholds Denial of Section 80GGC Deduction for Donations to Alleged Accommodation Entry Political Party

Income Tax : ITAT Delhi confirmed disallowance of a Section 80GGC claim after relying on investigation findings that the political party operat...

June 13, 2026 153 Views 0 comment Print

SBI Wins LTC TDS Dispute: No Assessee-in-Default When Bank Followed High Court Orders

Income Tax : The Tribunal ruled that non-deduction of tax pursuant to subsisting High Court directions cannot attract liability under Sections ...

June 13, 2026 78 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 47373 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 633 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 516 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 195 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 159 Views 0 comment Print


Set off and carry forward of losses – Quick Revision

March 7, 2014 10093 Views 0 comment Print

Kaushal Agrawal Fast track quick revision of set off and carry forward of losses of Indian Income Tax act 1961.  Section 70 to 80 deals with set off and carry forward of losses. As per section 70 losses can be set off within their own head. Section 71 allows losses to be set off with […]

President Assents Finance Act 2014 + Download Finance Bill 2014

March 6, 2014 7500 Views 0 comment Print

Finance Bill 2014 got the assent of President on 04th March 2014 and become THE FINANCE ACT, 2014 (NO. 11 OF 2014). The bill was already approved by the both the house of Parliament i.e. Lok Sabha and Rajya Sabha. Download Finance Bill 2014 as approved by the President

CBDT Extends due date for Filing TDS returns for Government Deductors only

March 6, 2014 11445 Views 0 comment Print

Due date extended for for filing TDS returns for Government Deductor: Double standard of CBDT”Relief should also extends to other assessee” Introduction:  Recently on 4th March CBDT Issue a CBDT circular No. 07/2014 F. No. 275/27/2013-IT(B) in which CBDT extends the due date for filing return for F.Y.2012-13 ( for 2nd to 4th quarter) and […]

Deposits cannot be treated as Income of assessee engaged in running financial schemes

March 6, 2014 850 Views 0 comment Print

Recently In the case of CIT Vs. Sahara India (Firm) Hon’ble Allahabad High Court has held that amount received from deposits from the public under different finance schemes cannot be treated as Income of the Assessee as Assessee is a mere custodian of the deposit.

ADIT (Investigation) sentenced Five Year Rigorous Imprisonment in Bribery Case

March 5, 2014 1706 Views 0 comment Print

FIVE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.50,000/- TO THEN DEPUTY DIRECTOR OF INCOME TAX IN A BRIBERY CASE OF RS.EIGHT LAKHS         The Special Judge, CBI Cases, Saket, New Delhi has sentenced Shri Satish Kumar, then Additional Director (Investigation), Income Tax, Meerut in a bribery case of Rs.Eight Lakhs and sentenced him to undergo five […]

Govt notifies Amended India-Romania Treaty

March 5, 2014 1183 Views 0 comment Print

Notification No. 13/2014-Income Tax Whereas, an Agreement between the Republic of India and Romania, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed at New Delhi on the 8th day of March, 2013 (hereinafter referred to as the said Agreement); 2. And whereas, the date of entry into force of the said agreement is the 16th day of December, 2013, being the date of later of the notifications of completion of the procedures as required by the respective laws for entry into force of the said Agreement, in accordance with paragraph 1 of Article 30 of the said Agreement;

India- enters DTAA with Latvia

March 5, 2014 997 Views 0 comment Print

Notification No.12/2014-Income Tax S.0 (E). – Whereas, an Agreement was entered into between the Government of the Republic of India and the Government of the Republic of Latvia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income which was signed at New Delhi on the 1861 day of September, 2013 (hereinafter referred to as the said Agreement); 2. And whereas, the date of entry into force of the said Agreement is the 28th day of December, 2013, being the date of later of the notifications of the completion of the procedures required by the respective laws for entry into force of the said Agreement. in accordance with paragraph 2 of Article 30 of the said Agreement;

Visiting India post- employment abroad could trigger tax implications

March 4, 2014 1150 Views 0 comment Print

In the context of the residential status of a person employed outside India, the Authority for Advance Ruling (AAR) has recently pronounced a decision in the case of Smita Anand (A.A.R. No.1091 of 2011 Dated 19.02.2014) which provides important learnings for employees wanting to settle back in India.

Section 35AC- Notification No. 1/2014-Income Tax , Dated : 04.03.2014

March 4, 2014 769 Views 0 comment Print

Whereas in exercise of the powers conferred by Section 35AC of the Income-tax Act, 1961 (43 of 1961) read with Rule 11G of the Income Tax Rules, 1962, the Central Government constituted the National Committee for Promotion of Social and Economic Welfare vide notification of the Government of India

Central Capital Investment Subsidy Scheme, 2013 for Industrial units in Himachal Pradesh and Uttarakhand

March 4, 2014 18066 Views 0 comment Print

Notification F.NO.2(1)/2013-SPS The Government of India is pleased to notify the extension of the following scheme of Central Grant or Subsidy under Special Package – II for Industrial units in the states of Himachal Pradesh and Uttarakhand with a view to accellerating the industrial development in these States.

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