Income Tax - Page 4

S. 56(2)(viib): AO cannot discard assessee’s method of Share Valuation

Narang Access Pvt. Ltd. Vs DCIT (ITAT Mumbai)

Narang Access Pvt. Ltd. Vs DCIT (ITAT Mumbai)  In the present case the valuation done by the assessee for valuing its shares is on the basis of DCF method and the AO could not have substituted it by NAV method rather he should have arrived at another value, if any, by applying DCF method only. […]...

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Section 143(2) notice on very same day of filing return shows Non-application of mind by AO

Shri Ajay Sharma Vs DCIT (ITAT Delhi)

Issuance of notice under section 143(2) on the very same day when return was filed showed non-application of mind on AO’s part in issuing section 143(2) notice and thereafter in framing assessment and therefore, all proceedings were nullity....

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Notification No. 94/2019-Income Tax, Dated: 05.11.2019

Notification No. 94/2019-Income Tax [S.O. 4004(E)] (05/11/2019)

Notification No. 94/2019-Income Tax, Dated: 05.11.2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 94/2019 New Delhi, the 5th November, 2019 (INCOME-TAX) S.O. 4004(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 read with section 295 of the Income-tax Ac...

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Notification No. 93/2019-Income Tax, Dated: 05.11.2019

Notification No. 93/2019-Income Tax [S.O. 4003(E)] (05/11/2019)

Notification No. 93/2019-Income Tax, Dated: 05.11.2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 93/2019 New Delhi, the 5th November, 2019 (INCOME-TAX) S.O. 4003(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 read with section 295 of the Income-tax Ac...

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Notification No. 92/2019-Income Tax, Dated: 05.11.2019

Notification No. 92/2019-Income Tax [S.O. 4002(E)] (05/11/2019)

Notification No. 92/2019-Income Tax, Dated: 05.11.2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 92/2019 New Delhi, the 5th November, 2019 (INCOME-TAX) S.O. 4002(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 read with section 295 of the Income-tax Ac...

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Notification No. 91/2019-Income Tax, Dated: 05.11.2019

Notification No. 91/2019-Income Tax [S.O. 4001(E)] (05/11/2019)

Notification No. 91/2019-Income Tax, Dated: 05.11.2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 91/2019 New Delhi, the 5th November, 2019 (INCOME-TAX)  S.O. 4001(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 read with section 295 of the Income-tax ...

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Notification No. 90/2019-Income Tax Dated: 05.11.2019

Notification No. 90/2019-Income Tax S.O. 4000(E) (05/11/2019)

Notification No. 90/2019-Income Tax Dated: 05.11.2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 90/2019 New Delhi, the 5th November, 2019 (INCOME-TAX) S.O. 4000(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 read with section 295 of the Income-tax Act...

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Notification No. 89/2019-Income Tax, Dated: 05.11.2019

Notification No. 89/2019-Income Tax S.O. 3999(E) (05/11/2019)

Notification No. 89/2019-Income Tax, Dated: 05.11.2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 89/2019 New Delhi, the 5th November, 2019 (INCOME-TAX) S.O. 3999(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 read with section 295 of the Income-tax Ac...

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Notification No. 88/2019-Income Tax, Dated: 05.11.2019

Notification No. 88/2019-Income Tax [S.O. 3998(E)] (05/11/2019)

Notification No. 88/2019-Income Tax, Dated: 05.11.2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 88/2019 New Delhi, the 5th November, 2019 (INCOME-TAX) S.O. 3998(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 read with section 295 of the Income-tax Ac...

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Special Court for trial of section 280A Income-tax offences notified

Notification No. 87/2019-Income Tax [S.O. 3986(E)] (05/11/2019)

CBDT notifies Special Court for trial of offences under section section 280A of Income-tax Act, 1961 vide Notification No. 87/2019-Income Tax dated 5th November, 2019....

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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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