Income Tax
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Transfer of passive infrastructure assets to Vodafone Infrastructure was a ‘Gift’ eligible for sec 47(iii) exemption
No Capital Gains Without Consideration Under Development Agreement: ITAT Hyderabad
Alleged Accommodation Entry Addition deleted Due to Loan Repayment Misclassification
Section 271(1)(c) Penalty Deleted Due to Consistency with Earlier Year Ruling: ITAT Dehradun
VAT ITC Allowed Beyond Invoice Month Due to Practical Accounting Constraints: Karnataka HC
Mechanical Issue of Reassessment Notices Invalid as Lack of Application of Mind Established
Reopening Fails on Both Counts: Invalid Sec 148A Notice and Time-Barred Sec 148 Render Assessment Void
Coffee Income: Rule 7B Overrides Rule 7 – ITAT Remands for Segregation of Own vs Purchased Produce
Duty Drawback Taxable Only on Receipt – ITAT Deletes Addition & U/s 270A Penalty
Not Every Bank Credit or AIS entry is Taxable: ITAT Nagpur
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.
