Income Tax
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ITAT Rectifies Overestimated Income: ₹6.59Cr Addition Slashed Drastically
Section 56(2)(viib) Addition Unsustainable Due to Improper Rejection of DCF
Search-Based Penalties Collapsed: Additions Were Only Disallowances, Not Undisclosed Income
No Proof of Mala Fide Conduct – Appeal Referred Back to CIT(A)
Registration u/s. 12A r.w.s. 12AB rejected as exorbitant fees being charged by educational institutes
Communication Gap in Faceless Regime: ITAT Sends Matter Back to CIT(A)
Part of commission income cannot be taxed when deduction u/s. 80P allowed for other part
Bank-Routed Agricultural Expenditure Not Unexplained Under Section 69C
Addition u/s. 69A quashed as cash deposited was out of cash sales and was duly recorded in books
Sudarshan Kriya Programs Recognized as Charitable Education & Medical Relief
ITAT Pune: ₹1.62 Cr u/s 68 Deleted — No “Source of Source” Needed Pre-01.04.2023
Demonetization Cash Deposit: 69 Addition Sustained but 115BBE @60% Not Applicable Before 01.04.2017
Interest on Delayed Agricultural Tax Payment not allowable: Kerala HC
Charitable Trust Can Exclude Doctor Fees for Indigent Patient Fund Contribution: Bombay HC
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.
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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.
