Income Tax
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HRA Deduction for Salaried Persons Under the New Tax Regime
Appeal Restored Due to Sufficient Cause Arising from Mismanagement Proceedings
Addition Deleted Because Property Purchases Were Proven as Stock-in-Trade, Not Unexplained Investment
Delay Condoned Because Temple Believed Income Was Exempt Under Section 10(23BBA)
Delay Explained by Technical Glitch Must Be Referred to CBDT for 80G Approval
Condonation of 87 Day Delay – ITAT Favors Substantial Justice in TDS Mismatch Dispute
Addition Deleted for Lack of Benchmarking: ITAT Rejects Arbitrary TP Adjustments
Chandigarh ITAT Quashes Reopening as Notice u/s 148 Issued by JAO Instead of FAO
Appeal Dismissed Without Merits: ITAT Remands Case for Fresh Assessment
Tax Penalty Cancelled After Tribunal Accepts Declared Income
Entire TDS credit on maturity of bond allowed as interest income offered to tax on accrual basis
Cancellation of registration u/s. 12AA without satisfying conditions u/s. 12AB(4)(ii) not justifiable
Development charges paid to SIPCOT allowed as revenue expense by deduction 5% every year
Reopening Beyond Four Years Without New Material Invalid: Gujarat HC Quashes Section 148 Notice
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.
