Income Tax
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ITAT Mumbai: Penalty U/s 271(1)(c) Deleted – Estimated Bogus Purchase Addition Cannot Trigger Penalty
SC: Balance-Sheet Acknowledgement & Debt Restructuring Extend Limitation – Sec 7 IBC Application Held Valid
ITAT Mumbai – Addition U/s 56(2)(vii)(b) Deleted as Stamp Value Difference within 10% Tolerance Band
ITAT Mumbai – CIT(A) Order Set Aside due to Non-Application of Mind Wrong Assessee Facts
ITAT Mumbai – Interest on Unsecured Loans Allowed Once Genuineness Accepted; Brought-Forward Loss Issue Restored
ITAT Mumbai – Reassessment Quashed Following Bombay HC Order; Invalid Section U/s 151 Vitiates Entire Proceedings
ITAT Mumbai – Additions U/s 68 & 69D in Search Case Deleted; No Incriminating Material for Unabated Years & Mere Statements Insufficient
ITAT Mumbai – Reassessment on Deceased Person Quashed; Entire Proceedings Penalties Held Void Ab Initio
Residential Status under Income Tax Act, 1961: Meaning, Determination & Judicial Interpretation
ITAT Kolkata – Exemption U/s 10(38) Allowed; AO Cannot Alter Cost of Acquisition in Year of Sale
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.
