Follow Us:

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


Sikkim: India’s Only Income Tax-Free State and the Law Behind It

Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...

June 10, 2026 81 Views 0 comment Print

8 Legal Ways to Save Income Tax in India for Business Owners & Freelancers

Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...

June 10, 2026 213 Views 0 comment Print

Section 54 Exemption for Capital Gains on Residential Property Transfer

Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...

June 10, 2026 95679 Views 4 comments Print

E-Payment of Direct Taxes: Simplifying Tax Payments

Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...

June 10, 2026 10038 Views 0 comment Print

All about Form 16 and 16A of TDS

Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...

June 10, 2026 26661 Views 1 comment 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 6034 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 225 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 1593 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 3690 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 3954 Views 0 comment Print


Latest Judiciary


Telangana HC Upholds ITAT’s Rejection of Section 254(2) Rectification Plea

Income Tax : The Telangana High Court held that Section 254(2) of the Income-tax Act is confined to rectifying mistakes apparent from the recor...

June 10, 2026 30 Views 0 comment Print

JAO Cannot Bypass Faceless Reassessment Framework: Telangana HC

Income Tax : The Telangana High Court held that reassessment proceedings initiated under Sections 148A and 148 by the Jurisdictional Assessing ...

June 10, 2026 39 Views 0 comment Print

Section 50 Is Only a Computation Fiction: Long-Term Capital Loss Can Be Set Off Against Deemed STCG

Income Tax : The Tribunal held that section 50 merely prescribes a special method for computing gains on depreciable assets and does not conver...

June 10, 2026 33 Views 0 comment Print

Bogus Purchase Addition Can’t Be 100% When Sales Are Accepted: ITAT Orders GP-Based Estimation

Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...

June 10, 2026 51 Views 0 comment Print

Sale Deed Not Final Word: ITAT Accepts Higher Actual Purchase Cost and Restores Full Indexation Benefit

Income Tax : The Tribunal ruled that the guideline value recorded in a registered document is not conclusive for computing capital gains if the...

June 10, 2026 123 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 44643 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 564 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 489 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 165 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 138 Views 0 comment Print


SC Upholds Income Tax Appeal Restoration Despite Pending Settlement Proceedings

January 14, 2026 729 Views 0 comment Print

The SC held that pending settlement proceedings do not bar restoration of income tax appeals. ITAT was justified in condoning delay and reviving appeals, subject to keeping them in abeyance.

Gujarat HC Restored Income Tax Appeal Despite Pending Settlement Proceedings

January 14, 2026 624 Views 0 comment Print

The court upheld restoration of appeals where earlier dismissal was without merits due to settlement proceedings. Delay condonation and remand were held valid with no jurisdictional error.

Borrowed Satisfaction & No Tangible Material: SC Upholds Quashing of Reassessment

January 14, 2026 1083 Views 0 comment Print

The SC refused to interfere with the High Court’s ruling that reassessment notices issued on incorrect facts and without supporting material were invalid. The key takeaway is that mechanical reopening cannot survive judicial scrutiny.

Gujarat HC Quashed Reassessment for Non-Application of Mind in Reopening Notices

January 14, 2026 681 Views 0 comment Print

The Court held that reopening based on wrong assumptions about return filing and without supporting material is invalid. Mechanical recording of reasons cannot confer jurisdiction.

ITAT Delhi Quashed Double Additions on Recorded Expenses & Sales Figures

January 14, 2026 369 Views 0 comment Print

The Tribunal held that once bills and vouchers are furnished, ad hoc disallowance of expenses is unjustified. Unsupported estimations without defects cannot sustain additions.

Interest from Employee Loans Taxable as Business Income: Gujarat HC

January 14, 2026 357 Views 0 comment Print

The case addressed the correct head of income for interest earned on staff loans. The court affirmed the Tribunal’s finding that such income arises in the normal course of business and found no ground to interfere.

Interest-Free Advances Not Taxable When No Borrowed Funds Used: ITAT Mumbai

January 14, 2026 315 Views 0 comment Print

The issue was whether interest could be taxed on interest-free advances where no interest was charged or received. The Tribunal held that hypothetical income cannot be taxed without accrual or deeming provision. The ruling reinforces that only real income is taxable.

Reassessment Invalid Due to Proceedings Against Dead Assessee: Calcutta HC

January 14, 2026 405 Views 0 comment Print

The Court set aside a reassessment order passed in the name of a deceased assessee, holding that proceedings cannot continue after authorities are informed of death. Fresh proceedings may be initiated against legal representatives as per law.

ITAT Jaipur Granted Taxpayer One More Chance to Disown PAN-Linked Bank Account

January 14, 2026 288 Views 0 comment Print

The tribunal allowed a remand where unexplained cash deposits were added based on a PAN-linked account. The key takeaway is that effective opportunity must be given to disown alleged accounts.

Change in Head of Loss Not Under-Reporting: ITAT Deletes ₹15.19 Cr Penalty u/s 270A

January 14, 2026 438 Views 0 comment Print

The Tribunal held that merely reclassifying a disclosed business loss as speculative loss does not amount to under-reporting. Penalty under section 270A was therefore deleted.

Search Post by Date
June 2026
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930