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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


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 156 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 333 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 150 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 183 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 2721 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 54 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 3336 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


SC Dismisses Appeal Due to Delay, HC Ruling on No PE and Offshore Taxability Stands

Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...

April 21, 2026 69 Views 0 comment Print

Offshore Supply Income Not Taxable in India Due to Absence of Business Connection: Delhi HC

Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...

April 21, 2026 102 Views 0 comment Print

Income Tax Appeal Reinstated as Delay due to Bona Fide Belief & COVID-19 Disruption

Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...

April 21, 2026 66 Views 0 comment Print

Reopening Valid Where Income Escapement Based on Search-Derived Information

Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...

April 21, 2026 72 Views 0 comment Print

Wage Arrears Deduction Allowed as Liability Accrued from Pay Revision Effective Date

Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...

April 21, 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 666 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 1956 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 447 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 168 Views 0 comment Print


Karnataka Housing Board Gets Income Tax Exemption from AY 2024-25

November 4, 2025 552 Views 0 comment Print

Ministry of Finance, CBDT, notifies the Karnataka Housing Board for income tax exemption under Section 10(46A) of the Income-tax Act, 1961, effective from Assessment Year 2024-25.

ITAT Hyderabad Restores Appeal as NFAC Sent Notices to Wrong Email

November 4, 2025 510 Views 0 comment Print

The ITAT Hyderabad condoned a 211-day delay in filing an appeal, finding the delay was justified because the NFAC (CIT(A)) sent all crucial notices to incorrect email addresses. The Tribunal restored the appeal for fresh hearing, ruling that the ex parte dismissal violated the principles of natural justice due to improper service of notice.

‘Make Available’ Test Fails: IT Support Reimbursement Not FIS Under India’s DTAA

November 4, 2025 585 Views 0 comment Print

ITAT deleted a Rs.54.85 crore tax addition, holding that make available clause of the India’s DTAA was not satisfied because routine IT support did not enable Indian entity to apply technology without provider’s ongoing reliance. A key takeaway is that mere recurring service provision, even with technical input, does not constitute make available of know-how.

ITAT Pune Deletes Perquisite Addition Already Included in Director’s Salary

November 4, 2025 276 Views 0 comment Print

Pune ITAT ruled against adding the perquisite value of rent-free accommodation, finding that the amount was already included and taxed as part of the directors’ disclosed salary.

ITAT Slams “Casual Approach” for Unexplained Cash Addition: Proof from Audited Books Must Be Verified

November 4, 2025 477 Views 0 comment Print

Hyderabad ITAT set aside a CIT(A) order, deleting an addition for cash deposits during the demonetisation period because the Assessing Officer (AO) ignored 28 debtor confirmations and audited accounts. The Tribunal held that an addition under Section 68 is invalid without rejecting the genuine books of account or verifying the provided evidence of business receipts.

Family Settlement: Concept, Scope & Relevance under Income-Tax Law

November 3, 2025 1809 Views 0 comment Print

Family settlements resolve property disputes across all Indian families. Understand validity, the broad scope of ‘family,’ and why registration is essential for immovable property.

Madras HC Quashes Income Tax Notices Issued by JAO Instead of FAO

November 3, 2025 1044 Views 0 comment Print

Division Bench held that notices must be issued by Faceless Assessment Officer (FAO), following Bombay High Court ruling in Hexaware Technologies Ltd., and declared notices by Jurisdictional Assessing Officers invalid.

ITAT Deletes ₹18.47 Lakh Demonetization Cash Addition, Citing Double Taxation

November 3, 2025 768 Views 0 comment Print

The ITAT deleted the addition for cash deposits made during demonetization, concluding that taxing the same business receipts twice by first accepting sales and then applying Section 69A was unsustainable under the law.

Transfer Pricing Adjustment of Rs. ₹445 Crore quashed against Netflix India

November 3, 2025 1464 Views 0 comment Print

Since Netflix India functioned solely as a limited-risk distributor of access, not as a licensee of content or technology, therfore, TNMM benchmarking was accepted, and the royalty-based TP adjustment of ₹444.93 crores was unsustainable.

Addition towards bogus accommodation entry of LTCG deleted as primary onus discharged

November 3, 2025 396 Views 0 comment Print

ITAT Mumbai held that addition for providing accommodation entries of bogus LTCG under section 68 of the Income Tax Act is rightly deleted by CIT(A) since assessee has duly discharged the primary onus. Accordingly, appeal of revenue dismissed.

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