Income Tax
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Interest on Land Acquisition Not Taxable When AO Took a Plausible View
No Section 68 Addition After Full Repayment of Loans Already Examined in Search Assessment
Notice u/s. 148A(b) cannot be issued for verification: Gujarat High Court
Assessment framed on basis of mechanical approval u/s. 153D is not tenable: ITAT Patna
Jurisdictional AO not authorized to issue notice u/s. 148 post faceless mechanism: ITAT Hyderabad
Revision u/s 263 Quashed: AO’s Plausible View on 80P Deduction Cannot Be Substituted by PCIT
Section 153C Additions Deleted: No Corroboration for Third-Party Pen-Drive Evidence
Day of arrival to be excluded while computing period stayed in India: ITAT Delhi
Recorded Sales Cannot Be Taxed Again U/s 68; Additions Based Only on Third-Party Statement Deleted
WhatsApp chat retrieved from third party not sufficient for addition: ITAT Ahmedabad
Rental Receipts from IT Parks – Business Income or House Property?
On-Money Addition for Flat Purchase Deleted; Builder’s General Statement Alone Not Enough
Bogus Purchase Cases: Only Profit Element Taxable; 4% GP Addition Upheld
Eight-minute delay in Return filing cannot justify denial of loss carry forward: Bombay HC
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.
