Income Tax
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ITAT Delhi Deleted Sec 68 Additions in Case of Thrift Society; Member Deposits & Cash Collections Held Explained
Sec 68 Addition Deleted – Art Exhibition Sale Through Singapore Held Genuine Revenue Appeal Dismissed by ITAT Agra
No Cessation of Liability U/s 41(1) – Long Outstanding Foreign Creditors Cannot Be Taxed Without Waiver or Write-Back
Addition U/s 68 Deleted – Accommodation Entry Allegation Failed Due to Mistaken Identity Absence of Bank Transactions
Section 115BAB Concessional Tax Cannot Be Denied in Subsequent Year Once Validly Exercised: ITAT Delhi
Assessment in Name of Amalgamating Bank Held Void – Order Passed on Non-Existent Entity Quashed Following Maruti Suzuki Principle
Clerical Error in ITR Cannot Deny Sec 10(23C)(iiiad) Exemption to Educational Society: ITAT Delhi
Cash Deposits Linked to Sales Cannot Be Taxed Again – Entire Additions Deleted; Assessee Appeal Allowed & Revenue Dismissed
Cash Gifts Taxable Without Donor Details: ITAT Delhi
Penalty U/s 270A Deleted – Bona Fide Explanation Tax Covered by TDS
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.
