Income Tax
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Appellate Authority Allowed to Set Aside Best-Judgment Assessment Under Amended Law
SC Quashed Reopening for Lack of Valid “Reason to Believe”
Reassessment Quashed: No Valid ‘Reason to Believe’ Despite Insight Portal Data – Gujarat HC
TDS Demand Quashed: No Proof of Cash Payment; Section 194-IA Liability Not Automatic
Share Certificate Transfer Dates Prove Holding Period; ITAT Allows LTCG Despite Purchase Date Doubts
Section 80P Deduction Denied Due to Belated Return, Case Sent Back for Condonation Review
Interest on Allegedly Bogus Loans Sent Back for De Novo Adjudication
CIT(A) Ex-Parte Order Quashed: Notices Sent to Old Counsel Email; Matter Remanded
80P Deduction Denied for Late Return, Case Sent Back for Condonation
Section 148 Reassessment Notice Quashed as Issued Beyond Surviving Limitation
Home Loan Interest Disallowance Remanded Due to New Evidence on Business Use of Loan
SC Refuses to Entertain Income Tax Appeal Lacking Discretionary Grounds
ITAT Mumbai Restored Section 11 Exemption After Delay in Form 10B is Condoned
Bogus Purchase Addition Deleted Without Remand Report Violates Rule 46A Procedure
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.
