Income Tax
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ITAT justified in accepting addition ground of validity of reassessment in terms of rule 27 of ITAT Rules
ITAT Deletes Additions Based on Third-Party Digital Data Due to Lack of Evidence
Section 148 Notice Quashed for Not Following Faceless Procedure
Bombay HC Quashes Reassessment Notices for Non-Compliance with Faceless Procedure
Reassessment Notice Quashed for Bypassing Mandatory Faceless Procedure
Section 54/54F Deductions Denied on Joint Ownership in Capital Gains Case
ITAT Allows Full 54EC Relief Because Investments Were in Two Financial Years, 54F Claim Denied Because Joint Ownership Counts as Second House
Section 54F Deduction Allowed as Joint Ownership Not Treated as Full Ownership
Exemption Denied for Second Flat Under Section 54F Due to Single-Unit Rule
Demand Stayed as Tribunal Found Prima Facie Case on Section 54 Claim
ITAT Mumbai Upholds Deletion of ₹5.85 Cr 40A(3) Addition on Meat Purchases
No LTCG Claim, No Penny-Stock Benefit: ITAT Mumbai Deletes Addition & Allows Appeal
Bogus Purchases from Five Hawala Suppliers: ITAT Delhi Restricts Profit Estimation to 8%
Double Taxation Not Permitted: ITAT Mumbai Deletes 2% Estimated Profit Added in Hands of Partnership Firm
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.
