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 article provides a practical guide for Non-Resident Indians (NRIs) on Indian income tax compliance, emphasizing that living abroad does not automatically exempt them from filing an Income Tax Return (ITR). It explains that residential status under section 6 determines taxability, with NRIs generally taxed only on income received, accrued, or deemed to accrue in […]
The Income Tax Act, 2025 restores capital gains taxation for share buybacks from 1 April 2026, replacing the deemed dividend regime while introducing an additional tax for promoters.
The Finance (No. 2) Act, 2024 abolished angel tax from AY 2025-26 for all investors. This article explains why startups filing returns for AY 2026-27 have no exposure under Section 56(2)(viib), while legacy disputes continue.
Filing an Income Tax Return offers benefits beyond tax compliance, including easier loans, TDS refunds, visa processing, and financial credibility. Timely filing also helps avoid penalties and preserve important tax benefits.
The Tribunal ruled that loss of an old Section 12A registration certificate is only a procedural deficiency and cannot by itself justify rejection of a Section 12AB application. The matter was remanded for verification of departmental records.
The ITAT observed that registration undertaken solely to satisfy a banks mortgage requirement cannot automatically attract tax under Section 56(2)(x). It restored the matter for fresh examination of the true nature of the transaction.
The ITAT held that the incorrect payment date mentioned in the Tax Audit Report was an obvious typographical mistake and not evidence of delayed PF payment. The issue was remanded for limited verification, with the deduction to be allowed upon confirmation of the challans.
The Pune ITAT refused to condone a 661-day delay in filing an appeal against rejection of Section 12AB registration. It held that vague explanations regarding a tax consultant and wrong email address, without supporting evidence, did not constitute sufficient cause.
The Pune ITAT deleted a ₹10 lakh addition after finding no reliable evidence that the assessee paid cash while purchasing a flat. It held that payments made through banking channels cannot be disregarded merely on the basis of unsubstantiated allegations.
The Tribunal distinguished between lack of enquiry and inadequate enquiry, holding that Section 263 cannot be invoked merely because the PCIT desired further verification. Since the AO had examined the evidence, the revisionary order was quashed.
