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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


ITAT Rejects MAT Addition as Company Validly Opted for Section 115BAA Concessional taxation

May 12, 2026 381 Views 0 comment Print

ITAT Delhi held that MAT provisions under Section 115JB cannot apply once a company validly opts for concessional taxation under Section 115BAA. The Tribunal also relied on consistency as the department had accepted the option in earlier years.

ITAT Delhi Rejects Appeal as AO’s Situs Determines Territorial Jurisdiction

May 12, 2026 237 Views 0 comment Print

ITAT Delhi held that territorial jurisdiction depends on the location of the Assessing Officer handling the assessment. Since the assessee’s jurisdiction lay in Agra, the Delhi Bench dismissed the appeal.

ITAT Accepts Spam Folder Explanation as Reasonable Cause for Missing Tax Notice

May 12, 2026 2364 Views 0 comment Print

The Tribunal ruled that the appellate authority should have adopted a liberal approach while considering additional evidence crucial to adjudication. The assessee was granted another opportunity to substantiate the exemption claim.

ITAT Quashes Section 153C Assessments As AO Recorded Improper Satisfaction

May 12, 2026 264 Views 0 comment Print

ITAT Delhi held that assessments under Section 153C were invalid as the Assessing Officer failed to record satisfaction in terms of the amended statutory requirement. The Tribunal quashed the assessments for lack of proper jurisdictional compliance.

ITAT Deletes Section Addition for Demonetisation Cash Deposits Explained Through Cash Flow Statement

May 12, 2026 279 Views 0 comment Print

The ITAT Bangalore condoned a 28-day delay in filing appeal after accepting the assessee’s explanation regarding non-noticing of electronically communicated appellate order. The Tribunal adopted a justice-oriented approach.

ITAT Reduces Demonetization Cash Deposit Addition to 10% Due to Supporting Evidence

May 12, 2026 204 Views 0 comment Print

The ITAT Rajkot reduced the addition on demonetization cash deposits after finding that the assessee had produced land records, cash flow statements, and other supporting evidence. The Tribunal restricted the addition to 10% of the disputed amount.

Charging Fees for Environmental Education Doesn’t Destroy Charity: Delhi ITAT Grants 12A Registration

May 12, 2026 135 Views 0 comment Print

The Delhi ITAT held that activities relating to environmental protection, farming awareness, and sustainability education qualify under the preservation of environment limb of Section 2(15). The Tribunal ruled that such activities are not hit by the restrictive proviso applicable to general public utility cases.

Reopening After 4 Years on Same “Hawala Purchase” Material = Mere Change of Opinion: Pune ITAT Quashes Reassessment

May 12, 2026 132 Views 0 comment Print

The Pune ITAT held that reassessment beyond four years based on the same hawala purchase material already examined during scrutiny amounted to a mere change of opinion. The reassessment proceedings were therefore quashed as invalid.

Income Tax Additions Based Only on DRI Allegations Sent Back for Fresh Review by ITAT

May 12, 2026 525 Views 0 comment Print

The Tribunal observed that earlier additions were primarily based on DRI show-cause notices without independent investigation by the Assessing Officer. Fresh adjudication was ordered after admission of subsequent customs findings.

Segregation & Aggregation of Income Under Income Tax Acts 1961 & 2025

May 12, 2026 492 Views 0 comment Print

The Income-tax Act, 2025 replaces old Sections 68 to 69D with a simplified sequential structure under Sections 102 to 106. The changes aim to improve clarity while retaining existing tax liabilities on unexplained income and assets.

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