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.
Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
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...
Income Tax : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
ITAT Ahmedabad held that opening balances and share application money converted into loans from earlier years fall outside the scope of Section 68 for the relevant assessment year. The Tribunal deleted the entire addition after finding factual and legal infirmities in the assessment.
This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section 115BBE. It highlights the conditions for invoking these provisions and the consequences of failing to satisfactorily explain the nature and source of funds.
The Delhi ITAT held that reassessment under Section 147 was invalid where the disputed amounts represented sale proceeds already disclosed and offered to tax. The Tribunal ruled that no income had escaped assessment in such circumstances.
ITAT Pune held that Foreign Tax Credit cannot be denied merely because Form 67 was filed after the prescribed due date. The Tribunal ruled that filing Form 67 is a procedural requirement and cannot override the substantive right to FTC under the DTAA.
The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax despite claiming deductions and exemptions. It explains the applicability, computation methods, credit mechanisms, exceptions, and compliance requirements governing these alternative tax provisions under the Income-tax Act.
The document outlines the categories of income exempt from taxation under Section 10 of the Income-tax Act and the conditions attached to such exemptions. It highlights that tax-free treatment extends to specified personal receipts, retirement benefits, allowances, investment incomes, and eligible institutions only when statutory requirements are satisfied.
The Tribunal ruled that Section 69A cannot be mechanically invoked without establishing that the deposits constitute unexplained income. Evidence of genuine business activity justified taxation only of the profit component.
The document clarifies that taxpayers may be liable to pay interest under Section 234D when refunds granted under Section 143(1) exceed the amount ultimately determined on regular assessment. It explains the rate, period, computation method, and adjustment provisions applicable to interest on excess refunds.
The ITAT Mumbai held that settlement under the Direct Tax Vivad Se Vishwas Scheme does not extinguish the legal existence of a reassessment order. Limitation under Section 154 must therefore be computed from the reassessment order, making the rectification application maintainable.
The document outlines the circumstances in which taxpayers become liable to pay interest under Sections 234A, 234B, and 234C of the Income-tax Act. It explains the applicable rates, computation methodology, periods of levy, exceptions, and practical illustrations relating to delayed return filing, advance tax defaults, and deferment of advance tax instalments.
