Income Tax
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Section 56(2)(x) Not Applicable Before 01.04.2017: ITAT Delhi
ITAT Allows Section 54B Deduction as Agricultural Land Was Purchased Within Two Years
ITAT Allows TDS Credit as Denial Was Due to Inadvertent Omission by AO
SC Refuses to Disturb HC Decision Quashing Income Tax Search Over Invalid Satisfaction Note
Bombay HC Quashes Income Tax Search Due to Lack of Valid Reason to Believe
ITAT Rejects Addition Based on Excel File Entries Due to Lack of Direct Evidence
ITAT Deletes ₹6 Cr Addition as Share Sale Transactions Were Through Banking Channels
ITAT Allows Section 54B Exemption as Agricultural Land Was Purchased Within Statutory Time Limit
Mere Search Allegations Against Lender Cannot Make Every Loan Bogus: ITAT Mumbai
ITAT Deletes ₹9.59 Crore Addition U/s 41(1) – Liability Cannot ‘Cease’ When Creditor Itself Confirms Amount Receivable
Mumbai ITAT Quashes AY 2015-16 Reassessment as Time-Barred – Revenue’s Own Concession in Rajeev Bansal Proves Fatal
Fire Safety Certificate Not Mandatory for U/s 12AB Registration – ITAT Restores Charitable Trust’s Approval Matter
Role of Income Tax Act in curbing Tax Evasion through Shell Companies
Nominal Members Do Not Defeat Section 80P Deduction- Bang ITAT Grants Relief to Co-operative Society
Latest Income Tax News
Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.
Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.
Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
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Find all the latest developments and amendments to the Income Tax Act. Get to know all the tips and tricks on how to save income tax and develop your own income tax planning work plan. We keep updating our portal regularly so that you don’t miss out on anything.
