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 issue involved granting recognition to an institution for research purposes. The authority approved eligibility, allowing tax deductions for scientific research activities.
This article explains major updates replacing the 1962 Rules from April 2026. The key takeaway is simplified compliance with enhanced exemptions and revised tax provisions.
The circular settles confusion between CPC Bengaluru and Commissioners on delay condonation powers. It confirms Commissioners as the competent authority under section 12A.
The issue was whether reassessment beyond four years was valid without failure to disclose material facts. The courts held that all relevant details were already disclosed during original assessment, making reopening without jurisdiction.
The Tribunal held that unexplained cash credits must be taxed in the year they are recorded in the books, not when allegedly received. Since the ₹80 lakh was credited in AY 1997–98, the addition under Section 68 was upheld despite claims of earlier receipt.
Many tax-saving investments carry hidden costs like STT, expense ratios, and exit loads. The analysis highlights that these charges significantly reduce effective returns despite tax benefits.
ITAT held that where interest-free funds exceed advances, a presumption arises that such advances are made from own funds. Disallowance under section 36(1)(iii) was deleted as no nexus with borrowed funds was proven.
The Tribunal ruled that section 44ADA applies only to specified professions and cannot be invoked for business income covered under section 44AD. Arbitrary substitution of a higher rate by the AO was held unsustainable.
High Court held that consideration received for assignment of self-generated trademarks prior to 2002 amendment could not be taxed as capital gains because no cost of acquisition could be determined.
Inventory Valuation under the Income-tax Act, 2025: A Critical Area for Financial, Tax, and Cost Auditors – Analytical Study of Sections 268(5) and 277, Rule 171(2), Form 101 and the Interplay with Form 26
