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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


Old vs New Income Tax Regime: 7 Costly Mistakes to Avoid in FY 2026-27

Income Tax : Key mistakes taxpayers should avoid when choosing between old and new tax regimes for FY 2026-27, including deductions, deadlines,...

April 19, 2026 783 Views 0 comment Print

Choose Your Subcontractor Wisely: A Costly ITAT Lesson

Income Tax : ITAT Kolkata remands case on disallowance of subcontractor expenses, stressing need for evidence, due diligence, and verification ...

April 19, 2026 918 Views 0 comment Print

Concise Manual for Non-Profit Organizations under Income Tax Act 2025

Income Tax : The new law introduces a structured framework for NPO registration, income application, and taxation. It simplifies compliance but...

April 18, 2026 453 Views 0 comment Print

Form 41 for DTAA Claims: Complete Guide under Income Tax Act 2025  

Income Tax : Form 41 is now compulsory for non-residents claiming DTAA benefits, replacing Form 10F. The update mandates online filing and ensu...

April 18, 2026 2520 Views 0 comment Print

Notices under New Income Tax Act 2025 – Step-by-Step Response Guide

Income Tax : Notices are increasingly triggered by AIS/TIS mismatches and automated systems. Accurate reporting and reconciliation are key to a...

April 18, 2026 111 Views 0 comment Print


Latest News


CAAS Moves Supreme Court on ITAT Vacancies

Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...

April 18, 2026 156 Views 0 comment Print

Massive Tax Irregularities Found Due to Improper Deductions by Banks & NBFCs: CAG

Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...

April 6, 2026 3279 Views 0 comment Print

Free Live Webinar: Decoding the New Income Tax Act, 2025

Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...

April 5, 2026 7926 Views 0 comment Print

Representation for enhancement of monetary limit for SMC cases before ITAT

Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...

April 4, 2026 870 Views 0 comment Print

Income-tax Act, 2025 comes into force from 1st April, 2026

Income Tax : The government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...

April 4, 2026 3507 Views 1 comment Print


Latest Judiciary


Bombay Quashed Section 148 Notice Due to Issuance by Wrong Authority

Income Tax : The issue was whether a reassessment notice issued by a jurisdictional officer instead of a faceless officer is valid. The Court h...

April 18, 2026 555 Views 0 comment Print

No Addition for Cessation of Liability if no Evidence of Remission: ITAT Mumbai

Income Tax : The Tribunal held that addition under Section 41(1) cannot be made without proof of actual cessation of liability. It found that m...

April 18, 2026 93 Views 0 comment Print

Tenancy Rights Transfer Taxable Only on Possession: STCG Addition Deleted

Income Tax : The Tribunal ruled that surrender of tenancy rights occurs only upon receiving new property possession. As possession was given la...

April 18, 2026 90 Views 0 comment Print

JDA May Trigger Transfer- But No Double Taxation Allowed: Karnataka HC Relief

Income Tax : The issue involved taxing capital gains from a development agreement in multiple years. The court held the same income cannot be t...

April 18, 2026 105 Views 0 comment Print

CIT(A) Enhancement Quashed for No Notice – ITAT Restores LTCG Issues to AO

Income Tax : The Tribunal held that enhancement of income without issuing notice under section 251(2) is invalid. Such action violates principl...

April 18, 2026 63 Views 0 comment Print


Latest Notifications


Income Tax Notification Corrected Due to Technical Errors in Rules & References

Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...

April 17, 2026 450 Views 0 comment Print

Transition from Form 15G/15H to Consolidated Form 121 for TDS-exempted Incomes

Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...

April 15, 2026 1416 Views 0 comment Print

Corrigendum to Notification of Income tax return Form U

Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...

April 11, 2026 423 Views 0 comment Print

Corrigendum to Notification of Income tax return Form 7 (ITR 7)

Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...

April 11, 2026 147 Views 0 comment Print

Corrigendum to Notification of Income tax return Form 6 (ITR 6)

Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...

April 11, 2026 135 Views 0 comment Print


Notices Quashed for Non-Faceless Procedure Under Sections 148A and 148

November 19, 2025 3819 Views 0 comment Print

The High Court set aside reassessment notices for not following mandatory faceless procedures introduced by recent Finance Act amendments. The ruling underscores that non-faceless issuance violates statutory requirements.

Real Estate Income Issue Remanded as Section 44AD Claim Unaddressed: ITAT Nagpur

November 19, 2025 600 Views 0 comment Print

The Tribunal held that additions made by treating real estate receipts as capital gains required fresh verification. The case was remanded as the earlier order failed to examine the assessee’s claim of business income under section 44AD.

Government Expands Bank Network for Capital Gains Accounts

November 19, 2025 1242 Views 0 comment Print

The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpayer access. The notification broadens the scheme’s reach while excluding rural branches.

Disallowance Upheld Due to AO’s Satisfaction: ITAT Confirms Rule 8D Application

November 19, 2025 321 Views 0 comment Print

Tribunal held that the AO had validly recorded dissatisfaction with the assessee’s 14A working and rightly invoked Rule 8D, confirming interest disallowance while remanding only the investment-averaging computation for Vireet-based recalculation.

Capital Gains Accounts (Second Amendment) Scheme, 2025

November 19, 2025 2712 Views 0 comment Print

The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhances taxpayer convenience and modernises compliance procedures.

TCS On Sale of Overseas Tour Pacakage

November 19, 2025 3951 Views 0 comment Print

Learn when and how sellers of overseas tour packages must collect TCS from buyers, including exemptions, applicable rates, and threshold limits.

1,370-Day Delay Not Condoned; Reliance on Consultant Not Sufficient Cause: ITAT Mumbai

November 19, 2025 579 Views 0 comment Print

ITAT Mumbai dismissed a tax appeal due to a 1,370-day delay, ruling that reliance on a tax consultant’s advice does not constitute sufficient cause for condonation. Case underscores strict adherence to limitation rules in tax proceedings.

Section 148 Notice Invalid in International Tax Cases if Issued by JAO Instead of FAO: Bombay HC

November 19, 2025 999 Views 0 comment Print

The Court held that a Section 148 notice issued by the Jurisdictional Assessing Officer instead of the Faceless Assessing Officer was invalid. It ruled that mandatory faceless procedures apply even in international taxation matters.

Section 263 Not Invocable When AO Takes a Plausible View After Inquiry: ITAT Mumbai

November 19, 2025 522 Views 0 comment Print

The ITAT Mumbai held that Section 263 cannot be invoked when the Assessing Officer has taken a permissible view after inquiry. Revision order quashed, upholding reassessment.

Understanding Statement of Financial Transaction (SFT)

November 19, 2025 16203 Views 0 comment Print

Understand the SFT system, reporting requirements, due dates, and penalties under Section 285BA for high-value financial transactions recorded during the year.

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