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Income Tax

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 RERA & Income Tax Reconciliation Is Crucial for Real Estate Developers

Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...

June 16, 2026 174 Views 0 comment Print

Which Income-Tax Law Applies to Returns Filed After 1st April 2026?

Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...

June 16, 2026 702 Views 0 comment Print

Presumptive Audit Controversy: Profit Trigger vs Turnover Trigger

Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...

June 16, 2026 2223 Views 0 comment Print

Don’t Blindly Trust Form 16: One Small Error Can Trigger a Huge Tax Demand

Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...

June 15, 2026 1917 Views 0 comment Print

Advance Tax Provisions, Challan, e-payment Utility & Examples

Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...

June 15, 2026 195537 Views 14 comments 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 6118 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 267 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 1767 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 3822 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 4005 Views 0 comment Print


Latest Judiciary


Madras HC Upholds Section 80IA Deduction as Audit Report Filed Before Assessment Completion

Income Tax : The Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...

June 16, 2026 84 Views 0 comment Print

ITAT Cancels Section 263 Revision as Issue Was Already Pending Before CIT(A)

Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...

June 16, 2026 87 Views 0 comment Print

ITAT Deletes Section 69B Addition as Excess Stock Was Recorded as Business Income

Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...

June 16, 2026 99 Views 0 comment Print

ITAT Denies Section 80GGC Deduction as Political Party Denied Reciept of Donation

Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...

June 16, 2026 75 Views 0 comment Print

ITAT Sustains Section 80GGC Political Donation Addition as Donation Was Found to Be Non-Genuine

Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...

June 16, 2026 93 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 48525 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 690 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 558 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 207 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 165 Views 0 comment Print


Moonlighting Income: Income Tax Return filing guide for Moonlighters

June 17, 2024 3627 Views 0 comment Print

Navigate moonlighting taxes efficiently. Learn how to file ITR, manage extra income, and avoid penalties in our comprehensive guide for moonlighters in India.

Representation on Equitable Allocation of Tax Audit Assignments

June 17, 2024 2979 Views 1 comment Print

Read CAASs recommendations for fair tax audit allocation, ensuring auditor independence and quality. They suggested automated allotment and fee structuring under ICAI.

Interest from SBI Investments Ineligible for Section 80P(2)(a)(i) Deduction

June 16, 2024 906 Views 0 comment Print

ITAT Bangalore rules interest income from SBI investments not eligible for deduction under Section 80P. Full analysis of Farmers Coop Society vs ITO case.

ITAT Kolkata Grants section 80G(5)(iii) registration to Income Tax Bar Association

June 16, 2024 1095 Views 0 comment Print

ITAT Kolkata grants exemption registration to Income Tax Bar Association Calcutta, overturning CIT’s decision. Read the full details of the tribunal’s order here.

RPM is most appropriate method When No Value Addition Before Resale

June 16, 2024 1545 Views 0 comment Print

ITAT Delhi rules RPM as the best method for benchmarking solar goods purchases in the D Light Energy P. Ltd. vs Assessing Officer case. Read the detailed analysis.

Income Tax Notices Sent to Old Address Without Evidence of Service: ITAT Deletes Section 271(1)(b) Penalty

June 16, 2024 3621 Views 0 comment Print

Read the detailed analysis of Sumit Maheshwari Vs ITO case where ITAT Delhi deletes penalty u/s 271(1)(b) of Income Tax Act due to failure in serving notice.

Section 80P(2)(d) deduction not eligible on Interest Income from KDCC Bank

June 16, 2024 1341 Views 0 comment Print

Read the detailed analysis of Laxminarayana Suvarna Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore) on the eligibility of interest income from KDCC Bank for deduction under Section 80P(2)(a)(i) of the Income Tax Act.

घर में सोने की मात्रा: परिवार की हैसियत का महत्व

June 16, 2024 3168 Views 0 comment Print

दिल्ली आयकर प्राधिकरण ने माना कि परिवार की हैसियत और माता-पिता के पास रखा सोना मान्य हो सकता है, भले ही वह आयकर सर्कुलर की सीमा से अधिक हो।

Taxation of Surplus from Zero-Coupon NCDs: Interest or Capital Gains?

June 15, 2024 4323 Views 0 comment Print

Understand the tax implications of surplus on redemption of zero-coupon NCDs: Is it interest income or capital gains? Learn from recent rulings and expert analysis.

ITAT Delhi allows provision for warranty expenses despite lack of past experience & scientific basis

June 15, 2024 1299 Views 0 comment Print

ITAT Delhi rules in favor of Grey Orange India Pvt. Ltd., allowing income tax deduction on warranty expenses. Detailed analysis of the ITAT order and implications.

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