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...
Taxpayers with foreign assets, high income, capital gains, or business complexities cannot file simplified ITR forms. Using the wrong form may result in defective returns and compliance notices.
The ITAT held that a penalty notice without specifying whether the case involved under-reporting or misreporting of income is legally unsustainable. The Tribunal ruled that such defective notices are void-ab-initio and cannot support penalty proceedings.
The ITAT Bangalore held that advances written off were allowable as bad debts since the assessee was engaged in financing and lending activities as part of its regular business operations.
: ITAT Bangalore held that indexed cost of construction cannot be denied merely because the sale deed described the property as a vacant plot. The Tribunal accepted documentary evidence such as rental income records, approved plans, contractor confirmations, and TDS details to establish existence of the building.
ITAT Bangalore held that rebate under Section 87A cannot be denied on short-term capital gains taxable under Section 111A where total income is below Rs. 7 lakh. The Tribunal ruled that no statutory prohibition existed during the relevant assessment year.
Telangana High Court held that reassessment notices under Section 148 were time-barred because they were dispatched from the ITBA portal after 31.03.2021. The Court ruled that mere digital signing or generation of notices within limitation was insufficient without actual dispatch.
The Tribunal ruled that long-term capital gains taxable under Section 112 form part of total income and qualify for Section 87A rebate if the prescribed income limit is satisfied. It also held that Finance Act 2025 amendments restricting the rebate are prospective.
The High Court held that writ jurisdiction should not be exercised at a premature stage when reassessment proceedings under the Income Tax Act are yet to be concluded. The petitioner was directed to pursue statutory remedies.
The ITAT Agra held that the tax authorities failed to consider earlier cash withdrawals while treating demonetization deposits as unexplained. The Tribunal restricted the addition to Rs.1 lakh and granted substantial relief to the assessee.
The ITAT held that cash deposits during demonetisation could not be treated as unexplained when the assessee had disclosed sales and provided debtor details. The Tribunal ruled that taxing the same receipts again under Section 68 would amount to double taxation.
