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Income Tax Tick-Tock! The 31st July ITR Alarm is Ringing – Is the Taxpayer Ready? Income Tax Chennai ITAT Deletes Addition for Luxury Car Purchase as Company’s Economic Ownership Prevails Over Registration in Director’s Name Income Tax Chennai ITAT Deletes Interest Disallowance; No Notional Interest Can Be Imputed on Business Advances When Assessee Has Sufficient Own Funds Income Tax Chennai ITAT Quashes Section 263 Revision of Penalty Order; PCIT Cannot Revise Order That Has Merged with CIT(A)’s Appellate Decision Income Tax Chennai ITAT Deletes Demonetisation Addition; Cash Deposits Matching Audited Sales and VAT Returns Cannot Be Treated as Unexplained Income Tax Chennai ITAT Quashes Reassessment Where No Addition Was Made on the Recorded Reason for Reopening Income Tax Chennai ITAT Upholds Deletion of Ad Hoc Disallowances; GSTR-2A Is Strong Corroborative Evidence and Purchases Cannot Be Rejected Without Verification Income Tax Chennai ITAT Deletes ₹76.45 Lakh Addition; Once Source of Cash Is Proved, Revenue Cannot Rely on Suspicion About Its Temporary Utilisation
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Income Tax

Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.

Income TaxBlack Money Act Penalty Quashed Because as Bona Fide Believed No Return Was Required
Income Tax

Black Money Act Penalty Quashed Because as Bona Fide Believed No Return Was Required

CA Sandeep Kanoi1 month ago
Income TaxBlack Money Act Penalty Set Aside as Non-Disclosure Was a Bona Fide Mistake
Income Tax

Black Money Act Penalty Set Aside as Non-Disclosure Was a Bona Fide Mistake

CA Sandeep Kanoi1 month ago
Income TaxSection 271D Penalty Quashed as AO Did Not Record Satisfaction: ITAT Delhi
Income Tax

Section 271D Penalty Quashed as AO Did Not Record Satisfaction: ITAT Delhi

CA Sandeep Kanoi1 month ago
Income TaxITAT Deletes Sections 271D & 271E Penalties for Lack of Recorded Satisfaction
Income Tax

ITAT Deletes Sections 271D & 271E Penalties for Lack of Recorded Satisfaction

CA Sandeep Kanoi1 month ago
Income TaxITAT Quashes Section 263 Order as Search Warrant Was Not Issued in Assessee’s Name
Income Tax

ITAT Quashes Section 263 Order as Search Warrant Was Not Issued in Assessee’s Name

CA Sandeep Kanoi1 month ago
Income TaxSearch Assessment Quashed as Limitation Must Be Computed Separately for Each Person
Income Tax

Search Assessment Quashed as Limitation Must Be Computed Separately for Each Person

CA Sandeep Kanoi1 month ago
Income TaxITAT Quashes Assessment Orders as Section 153 Limitation Expired Despite TOLA Extension
Income Tax

ITAT Quashes Assessment Orders as Section 153 Limitation Expired Despite TOLA Extension

CA Sandeep Kanoi1 month ago
Income TaxITAT Quashes Section 153C Assessments as They Were Barred by Limitation
Income Tax

ITAT Quashes Section 153C Assessments as They Were Barred by Limitation

CA Sandeep Kanoi1 month ago
Income Tax20% Pre-Deposit Not Mandatory as Stay Must Consider Genuine Hardship: Karnataka HC
Income Tax

20% Pre-Deposit Not Mandatory as Stay Must Consider Genuine Hardship: Karnataka HC

CA Sandeep Kanoi1 month ago
Income TaxPenny Stock LTCG Allegation Rejected as Revenue Produced No Assessee-Specific Evidence
Income Tax

Penny Stock LTCG Allegation Rejected as Revenue Produced No Assessee-Specific Evidence

CA Sandeep Kanoi1 month ago

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.

At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.

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.