Income Tax
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Typo Triggered ₹7.86 Cr Addition: Return Remanded for Re-Examination
ITAT Mumbai Quashes 263 Orders: No Incriminating Material to Revisit 80IC Claim U/s. 153A
Valuing unsold scrips at market value and taxing not sustained as unrealized gain cannot be taxed
Payments to Partner NGOs is Application of Income: ₹1.89 Cr Addition Deleted by ITAT Delhi
₹6.88 Crore Additions Invalid as Reassessment Void Without 143(2) Notice: ITAT Delhi
Industrial Incentives for Kutch and TUF Subsidy Not Taxable: ITAT Clarifies Capital Nature
ITAT Delhi Upholds Dealer Foreign Tour Expense as Genuine Business Promotion
Deduction u/s. 43B allowed to the extent relevant evidences are furnished
AO Must Apply Three-Year Gross Profit Instead of Treating Sales as Bogus: ITAT Delhi
Reassessment based on direction of CIT(A) post period prescribed u/s. 149 cannot be sustained
Reopening u/s. 147 justified as third party statement is substantiated with tangible material
Addition towards demonetization cash deposit deleted as made out of cash sales
Deduction u/s. 80IB(10) not eligible in absence of evidence substantiating development of eligible project
Addition u/s. 68 set aside as AO nowhere proved involvement in price rigging of scrips
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.
