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


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 120 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 95304 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 9966 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 26640 Views 1 comment Print

Permanent Account Number (PAN)

Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...

June 10, 2026 599049 Views 11 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 6031 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 3681 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 3948 Views 0 comment Print


Latest Judiciary


ITAT Deletes section 69 Addition as Revenue Failed to Prove Investment in Relevant Year

Income Tax : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...

June 10, 2026 504 Views 0 comment Print

No Interest Disallowance Without Nexus Between Borrowed Funds & Non-Business Advances: ITAT Lucknow

Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...

June 9, 2026 84 Views 0 comment Print

SC Refuses to Revive Reassessment as Original Scrutiny Had Examined Relevant Transactions & Details

Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...

June 9, 2026 222 Views 0 comment Print

ITAT Kolkata Allows Additional Refund Interest Due to Delay in Giving Appeal Effect

Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...

June 9, 2026 156 Views 0 comment Print

ITAT Delhi Deletes SLS Disallowance as APA Covered Intra-Group Services

Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...

June 9, 2026 72 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 44430 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 558 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 483 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 135 Views 0 comment Print


Repeated Non-Appearance Not Fatal Where Justice Demands Reconsideration: ITAT Mumbai

January 14, 2026 312 Views 0 comment Print

The Tribunal held that despite repeated notices, interests of justice required another opportunity. The case was remanded for fresh adjudication with costs imposed for prior non-cooperation.

ITAT Mumbai Deleted Notional Interest as No Real Income Accrued on Advances to Subsidiary

January 14, 2026 375 Views 0 comment Print

The Tribunal held that notional interest cannot be taxed where sufficient interest-free funds exist and no real income has accrued. The Revenue’s challenge to deletion of interest addition was dismissed.

Section 68 Loan Addition Deleted: No Incriminating Material Found During Search

January 14, 2026 483 Views 0 comment Print

The Tribunal held that for an unabated assessment year, additions under Section 153A must be based on incriminating material found during search. Since no such material linked to the loan was found, the Section 68 addition was deleted.

154-Day Delay: SC Dismisses Revenue Plea in Penny Stock Addition Case

January 14, 2026 534 Views 0 comment Print

The Supreme Court dismissed the Revenue’s appeal solely on account of unexplained delay, leaving the High Court’s decision undisturbed and reinforcing procedural discipline in tax litigation.

Gujarat HC Deleted Penny Stock Addition Due to Lack of Adverse Evidence

January 14, 2026 378 Views 0 comment Print

The High Court upheld deletion of additions where share sale transactions were supported by contract notes, demat records, and bank statements, and no contrary evidence was found.

SC Upheld Income Tax Assessment Transfer Due to Coordinated Search Investigation

January 14, 2026 423 Views 0 comment Print

The Supreme Court upheld the centralisation of assessments under Section 127, holding that transfer for coordinated investigation following a search was justified. The ruling confirms that disclosed reasons and factual linkage are sufficient to sustain jurisdictional transfer.

Manual Return Invalid Since E-Filing Was Mandatory for Companies: Madras HC

January 14, 2026 465 Views 0 comment Print

The Madras High Court held that companies could not file manual income-tax returns after e-filing became mandatory from May 14, 2007. A manual return filed for AY 2008–09 was held legally invalid.

Revenue Appeal Dismissed for Low Tax Effect as Higher Tax Rate Held Non-Retrospective

January 14, 2026 453 Views 0 comment Print

The Tribunal ruled that the enhanced tax rate under Section 115BBE cannot be applied retrospectively for demonetisation-period transactions. As the tax effect at normal rates fell below the monetary limit, the Revenue’s appeal was dismissed.

VDIS Declaration Does Not Bar Scrutiny If Higher Income Is Detected: MP HC

January 14, 2026 264 Views 0 comment Print

The Madhya Pradesh High Court held that income disclosed under the VDIS does not prevent tax authorities from scrutinising returns where material shows higher undisclosed income. Immunity under the Scheme applies only to the income actually declared.

Bombay HC Quashed Reassessment as Notice Issued to Non-Existent Entity

January 14, 2026 579 Views 0 comment Print

The Bombay High Court held that reassessment proceedings are invalid when notices are issued in the name of an entity that had ceased to exist, rendering the entire assessment void.

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