Income Tax
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Signed in a Day, Scrapped Forever – 153D Approval for 43 Cases Leads to Complete Collapse of Assessment
Declaration under DTVSV Scheme cannot be rejected merely because NRI has filed appeal manually
Civil contempt proceedings against PCIT dropped in absence of wilful disobedience
eBay Singapore eligible for DTAA benefit as STCG on sale of Flipkart Singapore’s shares not taxable in India: ITAT Mumbai
Court-approved Schemes vs. ‘Slump Sale’ after Finance Act 2021–22: Legal Faultline and Practical Tax Planning
ITR Processed , Refund Issued or Something Else ? Wait that Worries Taxpayers
Disallowance u/s. 43B for non-payment of statutory tax needs verification hence matter restored
ITAT Quashes Reassessment: Revenue’s Appeal Fails Because 148 Notice Invalidity was Unchallenged
Reassessment notice u/s. 148 quashed as being barred by limitation
Reopening must be on the same reason on which addition is made- ₹1.30 Cr Addition Deleted
Reassessment order in absence of notice u/s. 143(2) is bad-in-law
Notional Foreign Exchange Gain from year-end revaluation of a loan on capital account was not taxable income
Provision for consumer loyalty program was an allowable deduction u/s 37 and no TP adjustment as profits of eligible units were at arm’s length
No addition u/s 69A for undisclosed Jewellery as family inheritance and household withdrawals were sufficient to explain sources
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.
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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.
