Income Tax
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JAO Has No Jurisdiction – ITAT Quashes 148 Notice Issued Outside Faceless Scheme
No Penalty When Section 56(2)(viib) Itself Not Applicable to Holding–Subsidiary Share Issue
Section 44AF Overrides Section 139(9); Defective Return Notice Unjustified: Telangana HC
Late Form 67 Filing Not a Bar to FTC – Rs. 110 Cr Relief Upheld by Tribunal
Seized Papers Trump Denial: ITAT Upholds Rs. 60 Lakh Additions in Rs. 110 Cr Search Case
Section 69 Addition Fails – RTGS Proof Defeats Excel-Based Cash Allegation
Quantum-Pending – Bona Fide Belief Saves Assessee from Section 271B Penalty
Reopening Based Only on Change of Opinion Is Not Permissible: ITAT Chennai
Section 153 Overrides Section 144C – Time-Barred Order Quashed
Reassessment Notice for AY 2017-18 Invalid Due to Time-Bar Under Section 149
Addition Upheld for Books Rejection but Arbitrary Net profit Estimation Deleted
Gujarat HC Quashes Time-Barred Section 148 Notice Post-TOLA
Rule 46A Violated: Rs. 20 Cr Loan Additions Sent Back for Inquiry
ITAT Dismisses Revenue Appeal on 110 Cr Current Liabilities Dispute
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.
