Income Tax
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No Reassessment When 15-Month First-Year Income Already Offered to Tax: Madras HC
Section 80GGC Deduction Denied for Bogus Political Donation to Rashtriya Samajwadi Party: ITAT Mumbai
No Section 270A Penalty When Reassessment Accepts Returned Income Without Addition: ITAT Bangalore
Section 154 Rectification Available for Typographical Error in Capital Gains Return: ITAT Lucknow
Vendor Non-Response Cannot Justify Section 69C Addition Without Positive Evidence: ITAT Mumbai
ITAT Mumbai Quashes Search-Based Reassessment for Lack of Valid Section 148 Approval
Forex Gain Passed to Buyer Under Contract Cannot Be Taxed in Assessee’s Hands: ITAT Lucknow
ITAT Jodhpur Allows Trusts to Cure Form 10AB Defects in Restored Proceedings
CIT(A) Must Decide Section 143(1) Appeal Despite Pending 12AB Registration: ITAT Bengaluru
Tiger Global Ruling Redefines TRC Protection, GAAR and Treaty Anti-Avoidance Framework
Penalty U/s 271(1)(c) Not Leviable on Section 50C Deemed Addition: ITAT Mumbai
Section 68 Addition Invalid When Sale Receipt Already Declared and Taxed: ITAT Delhi
Section 263 Order Set Aside Makes Consequential Fresh Assessment Unsustainable: Bombay HC Appeal Admitted
Karnataka HC Quashed Section 14A Disallowance as AO Failed to Record Satisfaction
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.
