Income Tax
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Income Tax Benefits for Individuals & HUFs for A.Y. 2026-27 (FY 2025-26)
Gujarat HC Quashes Section 148 Notice as Adjournment Request Was Ignored
New Tax Regime Benefit Allowed as Form 10IE Once Filed Continues for Subsequent Years
Site Restoration Deduction Allowed due to PSC contractual obligation
No Section 270A Penalty as Education Cess Claim Was Based on Prevailing Judicial Precedents
Section 68 Addition Deleted as Assessee Proved Identity, Creditworthiness & Genuineness
Structural Improvements Qualify as Construction for Section 54F Deduction: ITAT Bangalore
Site Restoration Deduction Allowed as It Was a Mandatory Contractual Obligation
Delay in Income Tax Appeal Condoned as Jail Custody Prevented E-Filing
Section 68 Addition Deleted as Earlier Accepted Shares Can’t Be Held Bogus: ITAT Kolkata
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.
