Income Tax
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ITAT Directs Recalculation of Capital Gains, Not Just Section 50C Difference
Excess amalgamation Consideration Goodwill Depreciable under Section 32
Section 11 Exemption Preserved: Old Accumulations Utilised Within 6 Years Not Taxable
Amount paid to clear mortgage on title of property is deductible u/s. 48(1)
Section 153A: On-Money Profit @15% Sustained, TP Addition Deleted, Bogus Purchase Confirmed
Reassessment based on information on Insight Portal without verification is invalid
Section 153A Reassessment: Additions u/s 69B & 69C Deleted on Unsigned Excel Sheet
Delay in filing Form No. 9A condoned as form 9A newly introduced
ITAT Restores Section 80G Application Rejected for Religious Objects
ITAT Orders Fresh Verification of Cash Credit Addition Due to Loan Repayment
Section 44AD Claim Accepted, Entire Rs. 20.23 Lakh Addition Deleted
Reassessment Quashed as Notice Uploaded After Limitation Due to Portal Glitch
Maximum Marginal Rate Applied Because Trust Selected “AOP/BOI” in ITR
Section 263 Revision Rejected as AO Took One of Two Possible Views
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.
