Income Tax
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Section 263 Action Set Aside Due to Sufficient Assessment Verification
Proceedings Declared Void Due to Notice Served After Assessee’s Death
Reminders Aren’t New Defaults – ITAT Chennai Reduces 272A(1)(d) Levy
Loose Excel Sheet With Wrong Seller Name Can’t Justify On-Money Addition
Reassessment u/s. 147 based on information without application of mind is bad-in-law
Matching Principle Not applies to Cash Accounting – Section 36(1)(iii) Disallowance Deleted
Ad hoc disallowance not sustained as commission expense substantiated with relevant evidence
Entire 148A and 147 Proceedings Set Aside for Being Time-Barred
Section 263 Revision Quashed as AO Took Plausible View on Goodwill Depreciation
Karnataka HC Quashes Income Tax Notices Issued Outside Section 151A Scope
Loose Sheets Alone Insufficient for Tax Assessment: SC upholds Quashing of Notices
CAG Compendium on Impact of Audit on Income Tax & GST Administration
TDS Non-Deduction on LTC Under Court Stay Cannot Trigger Section 201 Liability: Kerala HC
Faulty Video Link Sent At 3AM which Prevented Hearing: Appeal Order Quashed
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.
