Income Tax
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No Penalty Where Return Filed After Probate Grant and Income Fully Disclosed in Form 26AS
No TDS on Foreign Agent Commission for Services Rendered Abroad; ITAT Deletes Section 40(a)(i) Disallowance
No Section 43B Disallowance as Service Tax Not Claimed in P&L: ITAT Dehradun
No Adhoc Disallowance of Commission on Assumptions Without Specific Defects: ITAT Delhi
Foreign Tax Credit Cannot Be Denied for Partial Overseas Return Filing: ITAT Mumbai
Search on Third Party Cannot Extend Reassessment Time Without Assessee Link: SC
Captive Power Valuation Must Include Electricity Duty for 80-IA Deduction: Calcutta HC
Cash Deposits from Tractor Sales Can’t Be Taxed as Unexplained Income: ITAT Ahmedabad
Bogus Purchase Addition Remanded as Fresh Evidence Warrants Verification: ITAT Surat
No Capital Gains Tax on Void Sale Deed Executed Through Forged POA: ITAT Ahmedabad
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.
