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Income Tax Chennai ITAT Deletes Interest Disallowance; No Notional Interest Can Be Imputed on Business Advances When Assessee Has Sufficient Own Funds Income Tax Chennai ITAT Quashes Section 263 Revision of Penalty Order; PCIT Cannot Revise Order That Has Merged with CIT(A)’s Appellate Decision Income Tax Chennai ITAT Deletes Demonetisation Addition; Cash Deposits Matching Audited Sales and VAT Returns Cannot Be Treated as Unexplained Income Tax Chennai ITAT Quashes Reassessment Where No Addition Was Made on the Recorded Reason for Reopening Income Tax Chennai ITAT Upholds Deletion of Ad Hoc Disallowances; GSTR-2A Is Strong Corroborative Evidence and Purchases Cannot Be Rejected Without Verification Income Tax Chennai ITAT Deletes ₹76.45 Lakh Addition; Once Source of Cash Is Proved, Revenue Cannot Rely on Suspicion About Its Temporary Utilisation Income Tax Chennai ITAT Quashes Reassessment Based Solely on AIR Information; Cash Deposits Must Be Examined with Reference to Business Turnover, Not Returned Income Income Tax Lucknow ITAT Deletes ₹1.31 Crore Addition on Cash Deposits by Bank Mitra; Holds Customer Deposits Cannot Be Taxed as Agent’s Income
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Income Tax

Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.

Income TaxFinal Orders After DRP Beyond Section 153 Limit Quashed Despite Pending Supreme Court Reference
Income Tax

Final Orders After DRP Beyond Section 153 Limit Quashed Despite Pending Supreme Court Reference

CA Vijayakumar Shetty6 months ago
Income TaxCash Advance Adjusted Through Tripartite Deal Not Unexplained Cash Credit U/s 68
Income Tax

Cash Advance Adjusted Through Tripartite Deal Not Unexplained Cash Credit U/s 68

CA Vijayakumar Shetty6 months ago
Income TaxFinal Assessment Ignoring DRP Directions Held Void; No Post-Limitation Cure Permissible
Income Tax

Final Assessment Ignoring DRP Directions Held Void; No Post-Limitation Cure Permissible

CA Vijayakumar Shetty6 months ago
Income TaxSection 153C Assessments Beyond Ten-Year Block Invalid: Deemed Search Date Starts from Satisfaction Note
Income Tax

Section 153C Assessments Beyond Ten-Year Block Invalid: Deemed Search Date Starts from Satisfaction Note

CA Vijayakumar Shetty6 months ago
Income TaxInvestor Funds of Company Cannot Be Taxed as Director’s Personal Unexplained Money u/s 69A
Income Tax

Investor Funds of Company Cannot Be Taxed as Director’s Personal Unexplained Money u/s 69A

CA Vijayakumar Shetty6 months ago
Income TaxInterest on Borrowed Funds Deductible Against Interest Income: ITAT Mumbai
Income Tax

Interest on Borrowed Funds Deductible Against Interest Income: ITAT Mumbai

CA AJAY KUMAR AGRAWAL6 months ago
Income TaxSC Dismisses Tax Appeal as Developer Status Under Section 80IA Already Settled
Income Tax

SC Dismisses Tax Appeal as Developer Status Under Section 80IA Already Settled

CA Sandeep Kanoi6 months ago
Income TaxGujarat HC Allowed Section 80IA Deduction as Assessee Held to Be Infrastructure Developer
Income Tax

Gujarat HC Allowed Section 80IA Deduction as Assessee Held to Be Infrastructure Developer

CA Sandeep Kanoi6 months ago
Income TaxRetention Money Not Income Until Contract Conditions Are Met: SC
Income Tax

Retention Money Not Income Until Contract Conditions Are Met: SC

CA Sandeep Kanoi6 months ago
Income TaxRetention Money Taxable Only After Right to Receive Crystallises: Calcutta HC
Income Tax

Retention Money Taxable Only After Right to Receive Crystallises: Calcutta HC

CA Sandeep Kanoi6 months ago

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.