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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 174 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 3591 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 357 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 107147 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 Deletes Interest Disallowance as AO Failed to Prove Borrowed Fund Diversion

Income Tax : The ITAT Ahmedabad held that proportionate interest disallowance cannot be sustained without establishing a direct nexus between b...

June 14, 2026 15 Views 0 comment Print

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 84 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 159 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 47385 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


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:

Trust Eligible for Relief u/s in respect of income from pharmacy run by it with in its hospital premises

January 6, 2014 1508 Views 0 comment Print

The first item so considered by the assessing authority is the receipts from pharmacy section. It is to be seen that assessee is running a full-fledged general hospital at St. Thomas Mount. The assessing authority has, no doubt

CBDT notifies authority for providing info of income-tax payees to facilitate execution of Food Security Act

January 6, 2014 1997 Views 0 comment Print

1. In exercise of powers conferred under section 138(1)(a) of Income-tax Act, 1961, the Central Board of Direct T00axes hereby directs that Director General of Income-tax (Systems) shall be the specified authority for the purpose of providing following information for purposes of implementation of National Food Security Act, 2013. Information about (i) Name; (ii) Father’s name; and (iii) Address of Resident individual Income-tax Payees of a particular State/Union Territory.

Notification No. 1/2014-Income Tax Dated 6/1/2014

January 6, 2014 691 Views 0 comment Print

Notification No.1/2014-Income Tax Whereas the Central Government is of the opinion that it is necessary to do so in the public interest and, therefore, in pursuance of sub-clause (ii) of clause (a) of sub­section (1) of Section 138 of the Income-tax Act, 1961, the Central Government hereby specifies the officer of the rank of Secretary in various States(s) /Union territories in India who is responsible for implementation of the National

Amendment to Section 40(a)(ia) is retrospective in nature

January 5, 2014 5821 Views 0 comment Print

High Court placed reliance on same bench ruling in CIT vs. Rajinder Kumar (ITA No. 65/2013) wherein it was held that “the amended Section 40(a)(ia) expands and further liberalises the statute when it stipulates that deductions made in the first eleven months of the previous year

Will Income Tax Dept. look into following administrative issues?

January 5, 2014 862 Views 0 comment Print

Pending demands & increasing litigation are mainly arising due to the certain administrative lapses. An attempt has been made to list a few such issues which need to be looked into.

Will CBDT look into the following and allow Government to amend the tax law?

January 5, 2014 762 Views 0 comment Print

ection 55 (2)(b) of the Income Tax Act, 1961 provides the option to the assesse to consider the fair market value of capital assets as on the 1st day of April , 1981 as the cost of acquisition where the same were acquired before April 1, 1981. This base year has been in use since the last amendment made under the Finance Act, 1992.

Implication of Tax Accounting Standards (TAS)

January 5, 2014 6174 Views 2 comments Print

TAS are now meant to be the basis of computation of taxable income by a mere notification. As a result there would be amendments in the law without requiring amendments in the Act. One of the purpose of TAS is to harmonize the accounting standards issued by ICAI with the direct tax laws in India.

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