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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 225 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 3723 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 366 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 193773 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 107165 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 3798 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


ITAT Delhi Quashes Search Assessments Due to Mechanical Section 153D Approval

Income Tax : ITAT Delhi held that consolidated approvals granted without application of mind under Section 153D were invalid. Consequently, the...

June 14, 2026 18 Views 0 comment Print

ITAT Deletes FTS Addition as Standard Cybersecurity Software Sales Were Not Technical Services

Income Tax : The Delhi ITAT held that receipts from sale and restricted use of standard cybersecurity software could not be taxed as Fees for T...

June 14, 2026 42 Views 0 comment Print

SC Upholds Reassessment Quashing as No Exempt LTCG Was Claimed in Penny Stock

Income Tax : The Supreme Court refused to interfere with the High Court's ruling that reassessment under Section 147 lacked a valid basis. The ...

June 14, 2026 54 Views 0 comment Print

No Evidence of Penny Stock Exemption Claim, Calcutta HC Quashed Reassessment

Income Tax : The Calcutta High Court upheld the Tribunal's order after finding that the reopening of assessment proceeded on incorrect facts re...

June 14, 2026 60 Views 0 comment Print

AO Failed to Record Mandatory Conditions for Reopening: ITAT Deletes ₹13.10 Crore Share Capital Addition

Income Tax : The Delhi ITAT held that reassessment notices issued beyond four years were invalid as the Assessing Officer failed to record the ...

June 14, 2026 45 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 47439 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 636 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 522 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


Government’s Clarification on Payment of Interest on Income Tax Refund

February 9, 2014 4213 Views 0 comment Print

Government’s Clarification on the Reports that Finance Ministry Pays interest on Excess Tax Refund This is with reference to the news report appearing in certain section of media that the Finance Ministry pays Rs.37, 365 cr. in interest on excess tax refund and similar reports. The emphasis of these reports is that huge interest was […]

SC dismisses SLP – Disallowance of reimbursement of expenses to agents U/s. 40(a)(ia)

February 9, 2014 7360 Views 0 comment Print

Supreme Court (SC) dismisses Special Leave Petition (SLP) in the case of CIT Vs. Gujarat Narmada Valley Fertilizers Company Ltd. filed against decision of Gujarat High Court which upheld the order of Income Tax Appellate Tribunal holding

AS-7 is applicable to a “Contractor” and not to a “Developer”

February 8, 2014 7524 Views 0 comment Print

Brief facts of the case are that assessee is engaged in the business of sale/purchase of TDR, income by way of stallage and construction activity. During the assessment proceedings AO found that assessee had received advanced booking amount on account of the construction activity

Depreciation on vehicles cannot be disallowed merely because vehicles been registered in the name of partner

February 8, 2014 23857 Views 0 comment Print

On perusal of the submitted details, it is noticed that the assessee has claimed depreciation on motor vehicles amounting of Rs.2,93,169/- in the year under consideration, but during the course of assessment proceeding the assessee has produced bills and proof of purchase

Transfer of Immovable Property & Income Tax – A Critical Analysis

February 7, 2014 20992 Views 13 comments Print

Government of India has Introduce a new area for collection of Tax at source with effect from 1st June 2013 known as TDS on Transfer of Immovable Property. The intention behind the Introduction of TDS is to put check on Realty Sector and to ensure reporting of sale / purchase of Immovable property which were earlier not reported anywhere or reported at later stage i.e. after the end of the financial year in which actual transaction was taken place.

Solution to problems faced by Salaried Assessees with respect to Income Tax Returns

February 7, 2014 11503 Views 0 comment Print

Solution to problems faced by Salaried Assessees with respect to Income Tax Returns

No disallowance U/s. 40(a)(i) on payment to non residents where "deduction neutrality non-discrimination" violated

February 6, 2014 1919 Views 0 comment Print

The issue is covered against the revenue by the Special Bench decision in Rajeev Sureshbahi Gajwani’s case (supra) and this decision binds this division bench. The theory of differentiation vs discrimination was relevant, relevant if it was, only for the India US tax treaty

Amendment class Finance Act 2013 – Surcharge and its effects on MMR and TDS Part 1

February 6, 2014 2719 Views 0 comment Print

Kaushal Agrawal This is our first lecture series of amendments made by Finance Act 2013. This video covers 1. Changes made in surcharge. 2. Present rates of surcharge. 3. Why surcharge was imposed, 4. What is effect of increase in surcharge. 5. How Maximum marginal rates of tax has changed. 6. Will surcharge and education […]

Disallowance U/s. 14A is to Be Made For Computing Book Profits U/s. 115JB

February 6, 2014 3490 Views 0 comment Print

These appeals by the Revenue relates to Assessment Year 2001-02. The respondent-assessee, as noticed above, namely, Federal-Mogul Goetze (India) Limited, had filed return of income on 31st October, 2001 declaring „nil‟income after setting for brought forward losses and depreciation.

Tribunal cannot be a silent spectator to illegal coercive recovery of taxes in Defiance Of Law – HC

February 6, 2014 2197 Views 0 comment Print

Contention of the Assessee :- The action of the petitioner revenue in not only attaching the petitioner’s bank account but also withdrawing the amount of Rs.159.84 crores on 18 November 2013 when the stay application was already fixed for hearing before the Tribunal on 22 November 2013

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