Income Tax
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No Tax on Notional Keyman Policy Value – ITAT Deletes Addition on Unrealised Surrender Value
ITAT Directs Fresh Assessment on Large Cash Deposits in Egg Trading Business
ITAT Kolkata Deletes Section 69A Rs. 11 Lakh Addition on Accommodation Entry
ITAT Delhi Deletes Addition on Demonetization Cash Deposits for Past Savings
No Evidence, No AMP Transaction: ITAT Quashes Bright Line Theory Restores LG’s TP Results
TDS or Invoice Can’t Kill Charity – ITAT Says ₹5.97 Cr Is Donation, Not Business Income
Cash Deposits During Demonetisation Accepted as Genuine – ITAT Deletes Section 68 & 14A Additions
No 127 Order, No Jurisdiction – ITAT Quashes Entire Assessment as Void
Shift in Business Model Justified – ITAT Allows ₹15.22 Cr Compensation & Strikes Down AMP TP Adjustment
Discount on issue of ESOP allowable as deduction from business income
Sand Purchase Price Reduced: Reason AO Cannot Rely on Partner’s Confession Alone for Inflated Rate
Bulk Sale Discount Valid: Reason Tax Authorities Cannot Force a ‘Uniform Price’ on Share Transactions
Trial Run Power Receipts Are Capital in Nature – ITAT Rejects Revenue’s Tax Claim
Estimated Profit Penalty Deleted: Reason Why 271(1)(c) Cannot Apply to Estimated Income Additions
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.
