Income Tax
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Only Commission Income Taxable in Money Transfer Activity; Entire Cash Deposits Cannot Be Treated as Income
Long-Term Capital Loss on Group Share Sale Allowed: ITAT Mumbai Upholds ₹183 Cr LTCL
Untraceable Suppliers: Only 5% Profit Taxable on Purchases
Section 68 Addition Quashed Where Purchases and Stock Were Not Disputed
TDS on Agent Commission: Only Interest Recoverable if Tax Paid
Section 132(4) Statements Alone Insufficient Without Supporting Evidence
Section 153A Assessment Quashed for Mechanical u/s 153D Approval
No Double Penalty for Same Default Under Sections 271A and 271B: ITAT Chennai
Final Assessment Quashed for Breach of Statutory Time Limits
ITAT Mumbai Rejects Section 68 Additions on Alleged Circular Loans
Only Profit Element Taxable in Bogus Purchase Cases: ITAT Mumbai
Section 80G Renewal Cannot Be Denied for Curable Defects or Proposed Object-Clause Amendment
Reassessment Quashed for Being Initiated by Wrong Authority Under Faceless Scheme
ITAT Chennai Orders De Novo Examination in Search Case Involving ₹200+ Crore Notings
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.
