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...
The Bombay High Court held that a DVO reference under Section 55A was invalid because the assessee’s declared value was higher than the fair market value. The ruling reiterates the scope of Section 55A as it existed before the 2012 amendment.
The Department maintained that search powers could be exercised where there was reason to believe that relevant documents and undisclosed assets were being kept at the premises. The matter involved both personal and third-party records.
The Bombay High Court held that an assessee cannot avoid tax merely because the same amount was taxed in another entity’s hands when the income actually belonged to the assessee. The Court upheld the addition of ₹1.71 crore arising from under-invoiced export transactions.
ITAT Delhi held that CSR-related donations can qualify for deduction under Section 80G when made to institutions approved under that provision. The Tribunal directed verification of eligibility and allowed the claim for statistical purposes.
ITAT Delhi held that deduction under Section 80G cannot be denied merely because donations were made as part of CSR obligations. The Tribunal ruled that contributions to eligible institutions remain deductible when statutory conditions are satisfied.
The ITAT Bangalore held that a deduction under Section 80G cannot be denied solely because the payment formed part of CSR expenditure. The Tribunal observed that denying the claim after CSR disallowance under Section 37(1) could result in double disallowance and remanded the matter for verification.
The article explains the advance tax framework applicable from Tax Year 2026-27. Taxpayers with net tax liability of Rs. 10,000 or more must generally pay tax in instalments during the year.
The article explains how the Finance Act, 2026 replaced the deemed dividend framework with capital gains taxation. The change allows taxation of actual gains rather than the entire buyback consideration.
The appellate authority had rejected the exemption claim on limitation grounds, but ITAT held that the assessee’s explanation regarding bond availability warranted verification. The case was sent back to the Assessing Officer.
Adjustment under section 143(1)(a)(iv) based on disallowance reported in Form 3CD was held to be within CPC’s jurisdiction. However, rectification under section 154 enhancing income without complying with section 154(3) was quashed.
