Income Tax
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Security Deposits from Contractors Not Cash Credits: ITAT Upholds Deletion of ₹22.61 Cr Addition
Reopening Quashed – Incorrect Facts Cannot Extend Limitation Beyond 3 Years
No Incriminating Material, No Addition: Bombay HC Dismisses Revenue Appeals in Search Cases
Final Tax Order Set Aside Due to Failure to Issue Draft Assessment in International Transaction Case
No Fresh Evidence? Telangana HC Invalidates Reopening of Completed Tax Assessment
12.5% Profit on Bank Credits Excessive, Restricted to 4%: ITAT Hyderabad
ITAT Allows 80P Deduction as Interest Earned from Co-Op Banks Treated as Eligible Income
ITAT Allows Advertisement and Marketing Expenses Due to Revenue Nature Despite No Income
Delhi HC Allowed Compensation as Revenue Expense Due to Commercial Expediency
On-Money Payment Addition Quashed as Excel Sheet & Third-Party Statements Found Unreliable
Bogus Purchases – Only 0.2% Profit Addition Sustainable, Consistency Prevails: ITAT Mumbai
Penalty on Share Premium Valuation Deleted – Bona Fide Claim Not Concealment
ITAT Deletes Additions Due to Unreliable Third-Party Evidence in 153C Proceedings
ITAT Quashes Reopening Due to Vague Reasons Under Section 147
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.
Get all the latest news on income tax with Taxguru. We will offer you all the insight and details about all the updates and trending news on income tax. Get a comprehensive coverage of income tax-related news and regular updates on income tax circulars.
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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.
