Follow Us:

Income Tax

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


No TDS on Transport Payments: Declaration Format Under Income Tax Act 2025

Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...

April 21, 2026 3 Views 0 comment Print

ITR Filing FY 2025-26: Step by Step Guide for Salaried Professionals

Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...

April 21, 2026 270 Views 0 comment Print

Selling Trust: The Quiet Problem of Product Mis-Selling in Indian Banking

Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...

April 21, 2026 135 Views 0 comment Print

Addition Deleted Due to Lack of Corroborative Evidence in Search-Based Case

Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...

April 21, 2026 180 Views 0 comment Print

Computerization of Form 121 (Earlier Form 15G & Form 15H)

Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...

April 21, 2026 2421 Views 0 comment Print


Latest News


CBDT Refutes Allegations of Tax Raid, Terms Claims Baseless; Complaint Filed with Election Commission & Police

Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...

April 21, 2026 36 Views 0 comment Print

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 228 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 3333 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 7959 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 876 Views 0 comment Print


Latest Judiciary


ITAT Upholds Section 10A Deduction Despite Wrong Section 10B Claim in Return

Income Tax : The Tribunal supported the CIT(A)s decision to allow a new claim under Section 10A, noting that appellate proceedings are a contin...

April 21, 2026 72 Views 0 comment Print

Income Tax Refund Cannot be Adjusted When Recovery Is Stayed: Orissa HC

Income Tax : The Court held that adjusting a refund against a disputed demand during the subsistence of a stay order is illegal and arbitrary, ...

April 21, 2026 96 Views 0 comment Print

ITAT Allows Fresh Opportunity for 80P Deduction Claim Due to Non-Submission of Evidence

Income Tax : The Tribunal held that deduction cannot be rejected merely due to absence of supporting evidence without examining merits. It rema...

April 21, 2026 102 Views 0 comment Print

ITAT Deletes Penalty as Both Limbs of Section 271(1)(c) Invoked Together

Income Tax : The Tribunal held that a penalty notice lacking clarity on whether it relates to concealment or inaccurate particulars is invalid....

April 21, 2026 120 Views 0 comment Print

ITAT Deletes AMP Adjustment, Rejects Bright Line Test Following HC Precedents in Louis Vuitton case

Income Tax : The Tribunal held that BLT cannot be used for transfer pricing adjustments on AMP expenses. It ruled that no adjustment was warran...

April 21, 2026 81 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 660 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 1935 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 444 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 153 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 165 Views 0 comment Print


Income Tax Act 2025 vs Income Tax Act 1961 – Changes from April 1, 2026

March 30, 2026 13773 Views 0 comment Print

India’s new tax law restructures the Income-tax framework without increasing tax burden. The key takeaway is that while compliance becomes simpler, professionals must adapt to major structural changes and renumbered provisions.

TDS Returns and Statements under Income Tax Act 2025

March 30, 2026 12549 Views 1 comment Print

The new tax law renumbers TDS return forms and introduces a unified reporting system. The key takeaway is that compliance remains the same, but form numbers and structure are simplified.

Key Income Tax Changes from April 1, 2026 under Income-tax Act, 2025

March 30, 2026 25875 Views 0 comment Print

Starting April 1, 2026, India will implement a significant tax reform by replacing the Income-tax Act of 1961 with the new Income-tax Act, 2025. This marks a major overhaul of the country’s income tax framework. In addition, the Union Budget 2026, presented by FM Nirmala Sitharaman on February 1, 2025, introduced several tax-related measures impacting […]

Development fee collected for funding capital expenditure for airport development not taxable as revenue income

March 30, 2026 180 Views 0 comment Print

ITAT Mumbai held that development fees collected from passengers was earmarked for capital expenditure towards modernisation and development of airport infrastructure and therefore the same could not be treated as revenue income of the assessee.

Section 263 Cannot Override DRP: ITAT Mumbai Quashes Revision

March 30, 2026 207 Views 0 comment Print

The Tribunal held that an assessment order passed in compliance with DRP directions cannot be revised under Section 263. It clarified that such orders are not erroneous as the Assessing Officer is bound by DRP’s binding instructions.

On-Money Additions Collapse: ITAT Deletes Sec 69 Additions Based on Third-Party Pen Drive

March 30, 2026 456 Views 0 comment Print

The Tribunal ruled that additions under Section 69 cannot be sustained when based solely on third-party statements and unverified electronic data. It emphasized the absence of independent evidence and upheld the taxpayers denial of cash payments.

Delay Fatal, Even Merits Useless: Kerala HC Refuses to Revive Time-Barred Appeals

March 30, 2026 300 Views 0 comment Print

The petitioner’s claim that delay was caused by a tax consultant was rejected. The Court held that the Tribunal’s finding was not perverse and required no interference.

Carried‑Forward Losses in Amalgamations: Smooth Transition under Income Tax Act 2025

March 30, 2026 369 Views 0 comment Print

The issue concerns treatment of carried-forward losses when post-merger conditions are breached. The law provides that such benefits are reversed and taxed as income in the year of violation. The key takeaway is that non-compliance leads to prospective taxation without reopening past assessments.

Non-Prosecution Costs Dear: ITAT Upholds Massive Additions Amid Assessee’s Repeated Non-Appearance

March 30, 2026 141 Views 0 comment Print

The Tribunal dismissed appeals after the assessee failed to appear despite multiple notices. Lack of participation led to confirmation of additions made by tax authorities.

CBDT Notifies Sovereign Wealth Fund Tax Exemption Rules & Procedure 

March 30, 2026 384 Views 0 comment Print

The circular introduces mandatory Form I and Form II for SWFs to claim tax exemptions. The ruling ensures structured application and reporting to prevent misuse while enabling eligible benefits.

Search Post by Date
April 2026
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930