Income Tax
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CIT(A) Cannot Dismiss Appeal In Limine Without Adjudication on Merits
Section 153A Invoked for Wrong Year; Second Search Abates First – ITAT Quashes Search Assessment for AY 2020-21
LTCG on Flats Received Under JVA Taxable in Year of Sale: ITAT Pune
ITAT Chandigarh Quashed Reassessment Beyond Four Years for No Disclosure Failure
Rural Agricultural Land Outside Section 56(2)(vii)(b): ITAT Deletes ₹59.33 Lakh Addition
Wrong Email Service Invalidates Assessment, Matter Sent Back to AO
No Addition Solely on Form 26AS Mismatch Where Books Are Audited: ITAT Bangalore
Liquor Trader’s Cash Deposits & Purchases Cannot Be Taxed Twice: ITAT Bangalore
Shares Settled in Family Trust Exempt under Section 56(2)(x): ITAT Chennai
Interest from Deposits with Co-operative Banks Qualifies for Section 80P(2)(d): ITAT Allows Deduction in Full
Interest from Co-operative Banks Eligible for Section 80P(2)(d): ITAT Remands for Limited Verification
Cash Deposits of Mobile Recharge Distributor Not Unexplained: ITAT Upholds Deletion of ₹1.95 Crore Addition
Assessment Quashed for Being Passed on a Non-Existent Amalgamated Entity
Section 148A(d) Order Passed by Jurisdictional AO Held Without Authority: ITAT Chandigarh
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.
