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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 324 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 3804 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 193788 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 107174 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 3801 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


Bogus LTCG Addition Sustained as Tribunal Finds Evidence of Fabricated Share Purchase Records

Income Tax : The Delhi ITAT sustained the addition arising from the sale of listed shares after finding discrepancies in purchase records, incl...

June 14, 2026 9 Views 0 comment Print

ITAT Lucknow Allows Set-Off of Spouse’s F&O Losses Arising From Gifted Funds

Income Tax : ITAT Lucknow held that derivative losses incurred by a spouse using funds gifted by the assessee can be clubbed and set off under ...

June 14, 2026 177 Views 0 comment Print

JAO Lacked Jurisdiction to Issue Section 148 Notice: Rajasthan HC

Income Tax : While recognising that earlier judgments had invalidated JAO-issued notices, the Court avoided passing orders that would make the ...

June 14, 2026 63 Views 0 comment Print

ITAT Directs GP-Based Addition as Jewellery Purchases Formed Part of Sales & Closing Stock

Income Tax : The Delhi ITAT held that where purchases are reflected in accepted sales and closing stock, the entire purchase amount cannot be d...

June 14, 2026 57 Views 0 comment Print

Faceless Reassessment Amounting to Best Judgment Assessment Can Be Remitted by CIT(A)

Income Tax : The Delhi ITAT held that repeated non-compliance with statutory notices transformed the reassessment into a best judgment assessme...

June 14, 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 47466 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


CBI arrests DCIT, Delhi in alleged bribery case

December 24, 2013 1745 Views 0 comment Print

The Central Bureau of Investigation has arrested a Deputy Commissioner of Income Tax (IRS-2006 Batch), New Delhi in an ongoing investigation relating to alleged bribery case.

Income tax Calculator for F.Y. 2013-14 / A.Y. 2014-15

December 24, 2013 89534 Views 0 comment Print

Auto Income tax calculator Financial year 2013-14 / Assessment year 2014-15 – The Calculator provides brief detail of all the Income Tax Exemptions,deduction, Sections and Rules Relevant for Taxation of Individual Especially Salaried Employee.

Wealth tax implications on real estate

December 24, 2013 5494 Views 0 comment Print

Even though land or building as above may be a taxable asset, but an exemption from wealth tax has been provided to an individual or an HUF in respect of one house (or part of house) or a plot of land upto 500 square metres in area. The house may be self-occupied or let out or used for residential or commercial purposes. A company is not eligible for this exemption.

Employee / Bank Certificate, Aadhaar for PAN / TAN , Revised Form 49A, 49AA

December 23, 2013 25376 Views 1 comment Print

Notification No. 96/2013 – Income Tax The list of documents to be submitted along with PAN Application Form49A/49AA has been revised. Aadhaar Card will now be accepted as a valid Proof of Identity and Address. Individuals being Citizens of India will now have to submit Proof of Date of Birth along with Proof of Identity and Address. Format for certificate of ID / Address by Employer / Bank also has been specified in Annexure A, B and C.

Achievements / Initiatives Taken by CBDT to Improve Efficiency of Tax System

December 21, 2013 5865 Views 0 comment Print

Achievements and Initiatives Taken by the Central Board of Direct Taxes (CBDT) Helping in Facilitating the Tax Payers, Improving the Efficiency and Equity of the Tax System and Promoting Voluntary Compliance. Following are the major highlights/achievements made by the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance over a period of time especially during the last one year :

TIEA Signed Between India And San Marino

December 21, 2013 1214 Views 0 comment Print

Salient features of the agreement with San Marino are: • The agreement is based on international standard of transparency and exchange of information. • The agreement provides for exchange of information that is foreseeably relevant to the administration and enforcement of the domestic tax laws.

Deferred Tax Liability On Creation Of Special Reserve u/s. 36(1)(viii) Of The Income Tax Act, 1961

December 20, 2013 3485 Views 0 comment Print

Please refer to our mailbox clarification dated November 6, 2009 with respect to the ‘Special Reserve’ created by banks under Section 36(1) (viii) of Income Tax Act, 1961 (hereinafter referred to as ‘Special Reserve’), in terms of which, only the net amount of such Special Reserve (net of tax payable) should be taken into account for the purpose of computation of Tier-I capital.

S. 40A(2)(b) Loan taken from relatives cannot be compared with bank loan

December 20, 2013 10986 Views 0 comment Print

It was held that loan taken from the relatives cannot be compared with bank loan because loan from the relatives are without security, while loan from the bank is secured. Tribunal has held in the case of Omkarmal Gaurishanker –Vs- ITO reported in 92 TTJ (Ahd.) 223 that interest paid to relatives @24% is reasonable.

Transfer Pricing – Ignore safe harbour margins for TP audits

December 20, 2013 1812 Views 0 comment Print

Pursuant to the Safe Harbour Rules in Rules 10TA to 10TG, the CBDT has issued a letter dated 20.12.2013 in which it has laid down important directives and clarifications on the manner in which the Safe Harbour Rules are meant to be implemented. The directives and clarifications are as follows:

S. 40A(3) No disallowance for cash payments made to ‘Broker’ who makes cash payments on behalf of the assessee

December 20, 2013 3579 Views 0 comment Print

Payments were made to truck drivers, who insisted for payment in cash was not exceptional case, because the assessee has not made payments to individual truck owners but to various brokers through whom the trucks were engaged, and therefore, the case of the assessee was not covered by the exceptions mentioned in Rule 6DD.

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