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 ITAT held that exemption under Section 10(23C)(vi) was available from AY 2018-19 because an earlier coordinate bench had already directed grant of approval. The Tribunal emphasized that judicial discipline required adherence to its previous ruling.
The Tribunal observed that CBDT instructions prohibit the AO from examining issues beyond the specific reason for limited scrutiny without proper approval. Additions relating to non-demonetisation cash deposits were therefore restricted.
Bangalore ITAT held that once ownership of agricultural land and cultivation activities are accepted, reasonable agricultural income cannot be rejected altogether. The Tribunal allowed relief for income from rubber plantation activities.
Bangalore ITAT held that unsigned loose sheets, scribblings, and rough jottings without corroborative evidence cannot form the sole basis for tax additions. The Tribunal deleted the protective additions linked to alleged capitation fee receipts.
The Tribunal ruled that surplus funds parked in banks by a co-operative credit society retain the character of business income when linked to member credit activities. Deduction under Section 80P(2)(a)(i) was therefore allowed.
Bangalore ITAT held that interest paid on a housing loan can be treated as part of the cost of acquisition where no deduction was claimed under house property income. The Tribunal directed the AO to allow indexed benefit on such interest expenditure.
Mumbai ITAT held that once receipts reflected in Form 26AS are assessed as taxable income, corresponding TDS credit cannot be denied on technical grounds. The AO was directed to verify records and grant due credit.
The Bombay High Court held that recovery of tax demands could not continue when the department failed to produce the assessment, rectification, or intimation orders creating such demands. The Court quashed the recovery notice and directed withdrawal of the demands.
Chennai ITAT held that the enhanced leave encashment exemption limit of Rs.25 lakh under CBDT Notification No.31/2023 applies retrospectively to pending matters. The Tribunal ruled that the amendment was remedial and intended to remove hardship for non-government employees.
Tribunal ruled that market value for captive power consumption must be based on the tariff charged to industrial consumers by TNEB while computing deduction under Section 80IA.
