Income Tax
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80G Rejection Set Aside: ITAT Indore Remands Matter—Paper-Bag Activity Held Not Automatically ‘Business’
Transfer Pricing Adjustment Overturned Due to Improper Comparable Selection
No Tax, No Under-Reporting: ITAT Mumbai Deletes 270A Penalty on Mere Re-classification of Loss
ITAT Restores ₹15 Crore Cash Addition: CIT(A) Failed to Seek Remand Report & Violated Rule 46A
Section 69 Addition Deleted as Investment Was Fully Recorded in Books
Capital Gains Reassessment Invalid Due to Improper Section 55A DVO Reference
Penalty Quashed as AO Failed to Record Satisfaction Under Section 270A
Revision u/s 263 Quashed: No Specific Error Identified by PCIT
Addition Partly Deleted as Section 69A Cannot Apply to Mere Documents Found in Search
NFAC deletion of ₹52.68 Cr addition u/s 50CA on start-up share transfer upheld by Tribunal
Contractual Late Delivery Charges Not Penalty, Reopening Without New Material invalid
Revision Upheld for Failure to Examine Capital Gains on Urban Land Sale
Cash Deposits During Demonetisation Accepted as Genuine; Addition Deleted
ITAT Deletes Additions for Partner Capital/Interest Due to Lack of Enquiry
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.
