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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


Why Does India’s ITR Deadline Always Need an Extension?

Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...

June 9, 2026 2766 Views 2 comments Print

TDS Deduction for Specified Senior Citizens (Section 194P)

Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...

June 9, 2026 12750 Views 1 comment Print

Comprehensive Guide to Maintenance of Books of Accounts

Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...

June 9, 2026 19728 Views 0 comment Print

Taxability of concessional or interest-free loan perquisite by Employee

Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...

June 9, 2026 46044 Views 1 comment Print

Taxation of Employee Stock Option Plan (ESOP)

Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...

June 9, 2026 41922 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 6004 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 213 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 1563 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 3663 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 3939 Views 0 comment Print


Latest Judiciary


Single Order for Reassessment and ITAT Directions not sustainable: ITAT Mumbai

Income Tax : ITAT remanded the case as NFAC passed an ex parte order despite notice issues and held that a combined reassessment and ITAT effec...

June 9, 2026 33 Views 0 comment Print

ITAT Deletes Interest Disallowance as AO Failed to Prove Diversion of Borrowed Funds

Income Tax : ITAT Delhi held that interest expenditure cannot be disallowed without establishing a nexus between borrowed funds and non-busines...

June 9, 2026 36 Views 0 comment Print

No Pre-Deposit Needed to File Income Tax Appeal Under Section 246A: Madras HC

Income Tax : The Madras High Court held that filing an appeal before the Commissioner of Income-tax (Appeals) under Section 246A does not requi...

June 9, 2026 39 Views 0 comment Print

ITAT Deletes Section 234E Fee as No Machinery Provision Existed Before 1 June 2015

Income Tax : ITAT Chennai held that late filing fees under Section 234E could not be levied through TDS processing for periods prior to 01.06.2...

June 9, 2026 42 Views 0 comment Print

SC Leave Fare Concession Ruling: ITAT Holds Bank Liable for TDS Default

Income Tax : The ITAT held that, following the Supreme Court's ruling denying LFC exemption for foreign travel, a bank could be treated as an a...

June 9, 2026 42 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 42639 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 531 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 474 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 153 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 135 Views 0 comment Print


Section 40(a)(ia) Disallowance Doesn’t Nullify TDS Default: ITAT Mumbai

November 11, 2025 939 Views 0 comment Print

Disallowance under section 40(a)(ia) and liability under section 201 operated independently, and assessee could not escape TDS liability merely by making a partial disallowance in its return.

Reassessment on Same Issue Invalid: Delhi HC Sends Case Back to AO for Fresh Consideration

November 11, 2025 729 Views 0 comment Print

Delhi High Court set aside notice under Sections 148A(3) & 148 when petitioner’s objections and documents were not considered before reopening for AY 2019-20.

Section 12AA Registration Alone Doesn’t Guarantee 80G Approval: SC

November 11, 2025 951 Views 0 comment Print

SC clarified that a trust’s 12AA registration isn’t enough to claim 80G benefit; the nature of its activities must be independently verified for charitable character.

Refund Interest Denial Over Defective TDS Held Perverse: J&K HC Remands Case

November 11, 2025 348 Views 0 comment Print

The Jammu and Kashmir High Court set aside ITAT and CIT(A) orders denying J&K Bank refund interest over disputed TDS certificates, terming the finding perverse and remanding the case.

ITAT Upholds ESOP Cost as Business Expense, Sets Aside PCIT 263 Order

November 11, 2025 813 Views 0 comment Print

ITAT Mumbai held that the Assessing Officer made detailed enquiries before allowing ESOP expenditure, invalidating the PCIT’s revision under section 263.

ITAT Mumbai Restricts Bogus Diamond Purchase Addition to 3%, Upholds Consistency Principle

November 10, 2025 747 Views 0 comment Print

The Mumbai ITAT partly allowed Trustar Diamond’s appeal, reducing the addition on alleged bogus diamond purchases from 12.5% to 3% to maintain consistency with the assessee’s previous assessment years. The court noted that sales figures were accepted and the 3% restriction reflected the historical disallowance pattern.

Gujarat HC Upholds Reassessment Based on Bogus Entry Information

November 10, 2025 654 Views 0 comment Print

The Gujarat High Court dismissed the petition by Backbone Projects Limited, upholding the reopening of assessment based on fresh, credible information from investigating wings detailing the receipt of ₹1.25 crore in bogus accommodation entries. The court ruled that mere production of documents does not constitute a full and true disclosure when transactions are later found to be false.

Income from Film Distribution was not ‘Royalty’ under India-US DTAA

November 10, 2025 435 Views 0 comment Print

Revenue from film distribution was specifically excluded from the definition of “royalty” under both the Act and the India-USA DTAA and interest earned on income tax refund was not effectively connected with any permanent establishment in India and should be taxed at 15% as per Article 11(2) of the India-US DTAA.

Reopening Beyond Four Years Held Invalid as Based on Stale Information: ITAT Delhi

November 10, 2025 354 Views 0 comment Print

ITAT Delhi held that reopening of assessment under section 148 of the Income Tax Act on the basis of stale information results into change of opinion and the same is not sustainable in law. Accordingly, appeal is allowed and reopening is quashed.

India Enforces Amended DTAA with Belgium from June 2025 to Curb Tax Evasion

November 10, 2025 1146 Views 0 comment Print

The Finance Ministry notifies the India-Belgium protocol amending the 1993 tax treaty, effective June 26, 2025, updating definitions, information exchange, and tax collection assistance provisions.

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