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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 TaxFull TDS Credit May Be Allowed to One Co-owner if Other Has Not Claimed – ITAT Remands
Income Tax

Full TDS Credit May Be Allowed to One Co-owner if Other Has Not Claimed – ITAT Remands

CA Vijayakumar Shetty4 months ago
Income TaxITAT Kolkata quashed Reassessment as Time-Barred Due to Expiry of Limitation Period
Income Tax

ITAT Kolkata quashed Reassessment as Time-Barred Due to Expiry of Limitation Period

CA Sandeep Kanoi4 months ago
Income TaxSection 69A Addition Deleted as Cash Withdrawals Were from Disclosed Bank Accounts: ITAT Mumbai
Income Tax

Section 69A Addition Deleted as Cash Withdrawals Were from Disclosed Bank Accounts: ITAT Mumbai

CA Sandeep Kanoi4 months ago
Income TaxDelay in Form 10B Filing Cannot Alone Justify Denial of Charitable Exemption: ITAT Hyderabad
Income Tax

Delay in Form 10B Filing Cannot Alone Justify Denial of Charitable Exemption: ITAT Hyderabad

CA Sandeep Kanoi4 months ago
Income TaxSearch Case – Commission Income Reduced, 69C Deleted & Cash Addition Shifted to Correct Year
Income Tax

Search Case – Commission Income Reduced, 69C Deleted & Cash Addition Shifted to Correct Year

CA Vijayakumar Shetty4 months ago
Income TaxSection 80P(2)(d) Deduction Allowed- Interest from Co-op Banks Eligible, AO Directed to Delete Addition
Income Tax

Section 80P(2)(d) Deduction Allowed- Interest from Co-op Banks Eligible, AO Directed to Delete Addition

CA Vijayakumar Shetty4 months ago
Income TaxExcess payment over net book value in amalgamation is goodwill hence eligible for depreciation u/s. 32(1)(ii)
Income Tax

Excess payment over net book value in amalgamation is goodwill hence eligible for depreciation u/s. 32(1)(ii)

POONAM GANDHI4 months ago
Income TaxSection 54F Deduction Allowed as Multiple Flats Treated as Single Residential Unit: ITAT Mumbai
Income Tax

Section 54F Deduction Allowed as Multiple Flats Treated as Single Residential Unit: ITAT Mumbai

CA Sandeep Kanoi4 months ago
Income TaxDividend from Mutual Funds Cannot Be Treated as Bogus U/s 68 – SEBI Confirmation Consistent ITAT View Upheld
Income Tax

Dividend from Mutual Funds Cannot Be Treated as Bogus U/s 68 – SEBI Confirmation Consistent ITAT View Upheld

CA Vijayakumar Shetty4 months ago
Income TaxITAT Delhi Set Aside TP Adjustment Due to Ignoring Internal CUP Analysis by TPO
Income Tax

ITAT Delhi Set Aside TP Adjustment Due to Ignoring Internal CUP Analysis by TPO

CA Sandeep Kanoi4 months 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.