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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 216 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 3714 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 193770 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 6 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 30 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 45 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 48 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 47430 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


Section 80CCG: Deduction on investment under Equity Savings Scheme

January 10, 2014 5703 Views 0 comment Print

Eligibility for 80CCG – (1) the gross total income of the assessee for the relevant assessment year shall not exceed twelve lacs rupees. (2) Should be a new retail investor. This means you should be using a demat account the first time ever for equities. You should be using a new demat account or if you had a demat account you should have never traded in equities using it before.

HC stays Late Filing Fees U/s. 234E for late filing of TDS return

January 10, 2014 52194 Views 52 comments Print

The constitutional validity of Section 234E of the Income Tax Act, 1961 has been challenged in the Kerala High Court in the case of Narath Mapila LP School vs. UOI WP (C) No. 31498/2013(J). Vide an interim order dated 18.12.2013, the High Court has admitted the Petition and granted a stay of proceedings for a period of two months.

26AS Online views – crosses 22 Crores

January 10, 2014 2110 Views 0 comment Print

CPC (TDS) is committed to contribute effectively in the nation building process through efficient tax administration and improved voluntary compliance. This is intended to be achieved by an enabling policy environment and augmenting the revenue mobilization apparatus under the law, while maintaining taxpayer confidence in the system. To achieve the objectives, we have setup processes […]

Penalty u/s 271AAA on members of AOP for income initially disclosed and declared in the hands of AOP

January 10, 2014 1469 Views 0 comment Print

Penalty levied u/s 271AAA on members of AOP is rightly deleted by tribunal in a case where income initially disclosed and declared in the hands of AOP is subsequently disclosed in the individual hands of members forming AOP. CIT Vs. VIRENDARA KUMAR GUPTA (DELHI HIGH COURT)

Fee for default in furnishing TDS / TCS statement

January 10, 2014 594 Views 0 comment Print

Sometime back a number of instances have been brought to my notice by some clients, which relate to the levy of fee for late filing of TDS / TCS statement. On examination of the provisions of the Income-Tax Act, 1961 (the Act), it was realized that the impugned fee has been levied under section 234E of the Act, which is rather an obscure section. Therefore, section 234E was examined in detail.

TDS / TCS : CBDT Releases new version 3.8 of Return Preparation Utility (RPU)

January 8, 2014 25999 Views 0 comment Print

The new version 3.8 of the Return Preparation Utility (RPU) features following significant changes from the previous: Discontinuation of functionality to delete Deductee records: For the purpose of correct reporting, deletion of Deductee rows is no longer permissible in the TDS statements. Accordingly, the delete option available under “Updation mode for Deductee” has been removed from the RPU.

SEBI (Foreign Portfolio Investors) Regulations, 2014

January 7, 2014 2101 Views 0 comment Print

1. (1) These regulations may be called the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014. (2) They shall come into force on the date of their publication in the Official Gazette.

Notification No. 03/2014-Income Tax Dated: 07.01.2014

January 7, 2014 481 Views 0 comment Print

Notification No. 03/2014-Income Tax S.O. 48 (E).—Whereas, an agreement (hereinafter referred to as the said agreement) was entered into between the Government of the Republic of India and the Government of Belize for the exchange of information with respect of taxes was signed at Belmopan, Belize on the 18th day of September, 2013;

Gross direct tax collections during April-December up by 12.33 percent

January 7, 2014 841 Views 0 comment Print

Gross direct tax collections during April-December of the current financial year 2013-14 is up by 12.33 percent and stood at rs. 4,81,914 crore as against rs. 4,29,023 crore in the same period last year.

India enters in DTAA with Albania wef December 4, 2013

January 6, 2014 841 Views 0 comment Print

Notification No. 2/2014-Income Tax The Government of the Republic of India and the Council of Ministers of the Republic of Albania, desiring to conclude an Agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital and with a view to promoting economic cooperation between the two countries, have agreed as follows:

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