Income Tax
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ITAT Mumbai: Reopening Beyond 3 Years Invalid – ₹6 Lakh Escapement Fails ₹50 Lakh Threshold
No Misreporting, No Penalty: ITAT Deletes ₹11L Penalty u/s 270A(9) Where Return Accepted in Full
ITAT Mumbai: Penalty Not Automatic on Disallowances – Major Relief in Depreciation Expense Claims
No Capital Gains on JDA Without Consideration or Possession Transfer: ITAT Deletes Addition
ITAT Mumbai: Section 68 Additions Collapse – No “Source of Source” for Firms, Evidence Overrides Suspicion
Foreign Tax Credit Allowed Despite Delay in Form 67 – Procedural Lapse Not Fatal
Cash Deposits from Car Booking Advances Explained: ITAT Deletes ₹27.40 Lakh Addition u/s 69A
ITAT Mumbai: On-Money Addition Crumbles Without Evidence – Platinum Mall Case
Reassessment Quashed: 148 Notice Issued Post 01.04.2021 Without Following New Law Held Invalid
PF/ESI Delay Disallowance Remanded: ITAT Reopens Issue Amid Supreme Court Doubt on Checkmate
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.
