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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


ITR Filing 2026: Important Due Dates, Budget 2026 Updates & Strategies

Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...

June 10, 2026 282 Views 0 comment Print

Sikkim: India’s Only Income Tax-Free State and the Law Behind It

Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...

June 10, 2026 162 Views 0 comment Print

8 Legal Ways to Save Income Tax in India for Business Owners & Freelancers

Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...

June 10, 2026 288 Views 0 comment Print

Section 54 Exemption for Capital Gains on Residential Property Transfer

Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...

June 10, 2026 96924 Views 4 comments Print

E-Payment of Direct Taxes: Simplifying Tax Payments

Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...

June 10, 2026 10245 Views 0 comment 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 6040 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 231 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 1602 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 3720 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 3957 Views 0 comment Print


Latest Judiciary


Income Tax Reopening Quashed as PAN Was Not Properly Transferred to Jurisdictional Officer

Income Tax : Bombay High Court quashed income tax reassessment proceedings after holding that the PAN was not transferred to the competent juri...

June 11, 2026 18 Views 0 comment Print

Scrutiny Assessment Quashed as Section 143(2) Notice Was Issued Without Jurisdiction: Calcutta HC

Income Tax : The Calcutta High Court upheld the ITAT's decision quashing the assessment after finding that the notice under Section 143(2) was ...

June 11, 2026 24 Views 0 comment Print

ITAT Deletes Section 143(1) Adjustment as Revenue Failed to Prove Notice Issuance

Income Tax : The Ahmedabad ITAT held that adjustments under Section 143(1)(a) cannot be sustained without evidence of prior intimation to the a...

June 11, 2026 36 Views 0 comment Print

Section 80J Deduction Denied as Audit Report Was Never Filed: Bombay HC

Income Tax : The Court held that although filing the audit report along with the return is directory, complete failure to furnish the report is...

June 11, 2026 39 Views 0 comment Print

Additional Depreciation Can’t Be Denied for Non-Filing of Form 3AA With Return: SC

Income Tax : The Supreme Court held that filing Form 3AA during assessment proceedings constituted sufficient compliance, even though it was no...

June 11, 2026 30 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 45105 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 564 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 492 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 165 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 138 Views 0 comment Print


Mere Short period of holding shares does not imply that intention was only to trade in security

December 13, 2010 1039 Views 0 comment Print

Primarily, the intention with which an assessee starts his activity is the most important factor. If shares are purchased from own funds, with a view to keep the funds in equity shares to earn considerable return on account of enhancement in the value of share over a period then merely because the assessee liquidates its investment within six months

I-T department expects to collect Rs 2500-cr in Vodafone case

December 12, 2010 423 Views 0 comment Print

Mumbai Income Tax authorities expect to collect Rs 2,500 crore on accounts of the ongoing Vodafone case. The collection would help the department achieve its tax collection target for this fiscal, a department press release said here today. Mumbai zone has been given a target of over Rs 1,50,000 crore for FY 11.

I-T department issues notices to Brokers, corporate investors for 'under-reporting' of income

December 12, 2010 645 Views 0 comment Print

The Income Tax department is learnt to have sent notices to over a dozen proprietary stock trading firms and corporate investors, for alleged ‘under-reporting’ of taxable income for assessment years 2006-07 and 2007-08 .

Clarification by Union Home Secretary on Radia tapes

December 12, 2010 483 Views 0 comment Print

Following is the text of the clarification, issued by the Union Home Secretary, Shri G.K.Pillai here today on the issue of interception of the telephones of Ms Niira Radia.

Income-Tax Department denies leaking Radia tapes

December 12, 2010 519 Views 0 comment Print

The Income-Tax Department on Friday denied leaking ‘Radia tapes’. Responding to the Tata Group Chairman, Mr Ratan Tata’s petition, the Department, in an affidavit before the Supreme Court, said a probe was on into the leak.

FM praises Income Tax Department’s handling of Vodafone case

December 12, 2010 462 Views 0 comment Print

Union Finance Minister Pranab Mukherjee praised the efforts and professional competence of the Income Tax Department in handling the Vodafone tax dispute efficiently in all the forums. The department at present expects the Rs 2,500 crore in tax colle

No remission of liability on settlement of deferred sales tax liability at net present value

December 11, 2010 1345 Views 0 comment Print

A recent decision of the Special Bench (SB) of the Mumbai Income Tax Appellate Tribunal (Tribunal) [AIT-2010-503-ITAT] in the case of Sulzer India Ltd. (Taxpayer) on the issue of whether settlement of deferred sales tax liability, under an option made available by the statutory authority to pay the net present value (NPV)

Foreign Remittances – The way to evade tax?

December 10, 2010 630 Views 0 comment Print

As overseas remittances continue to jump, the Comptroller and Auditor General (CAG) is concerned that the tax collections have not matched the growth in foreign exchange earnings amid fears that some of these transactions may have completely escaped

Transport subsidy received by an industrial undertaking under a scheme of Central Government is not eligible for deduction u/s 80-IA

December 10, 2010 1008 Views 0 comment Print

Whether the ITAT was right in law in holding that Freight Subsidy received from the Govt. by the assessee is allowed to be included as profits derived from the industrial undertaking and eligible for deduction under Section 80- 1A of the Income Tax Act, 1961

Unless and until gift is connected with profession or vocation, it cannot be taxed

December 10, 2010 1267 Views 0 comment Print

In the absence of link or connection between the gift made by the devotees and the profession or avocation carried on by the assessee, a religions head, the personal gift cannot be termed as income taxable under the Act

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