Income Tax
Log in to FollowGet all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Addition upheld by CIT(A) without passing speaking order is not justifiable: Matter restored
ITAT Delhi delivers a two-fold relief – quashes reassessment as void for lack of jurisdiction & grants full Section 54F exemption even where houses are constructed in son’s name
Payment of non-compete fees to retiring partner is revenue expense
ITAT Chennai deletes demonetisation cash deposit addition – Once books are accepted, cash sales cannot be treated as unexplained money u/s 69A
No reassessment u/s. 148 as income earned in NRE account exempt u/s. 10(4)(ii)
ITAT Chennai restricts addition on cash deposits – Treats assessee as commission agent, estimates income at 4% instead of taxing entire deposits
CIT(A) Didn’t ‘Set Aside’—He Just Told AO to Do the Maths! ITAT Slams Revenue’s Hyper-Technical Appeal
ITAT Upholds 100% Penalty on Confirmed Additions Past-Loss Adjustment Irrelevant for 271(1)(c)- Substantial Justice for Delay, No Relief on Merits
Revised Return No Bar to Full 244A Interest Entitlement – Refund Interest to Run from 1 April 2017-up to Date of Refund Draft Issue
Notice u/s 148 After 3 Years Needs Pr.CCIT Approval – ITAT Says Sanction by Pr.CIT Invalid, Reopening Quashed
Form 15CB Filed, TDS Deposited & DTAA Followed – ITAT Deletes 201(1)/201(1A) Demand as No Default Exists
Notice u/s 148 Issued 20 Days Late – ITAT Applies Rajeev Bansal & Gujarat HC, Quashes Reopening as Time-Barred
AO Accepted Agri Income in Next Year but Denied in Earlier Year Without Logic – ITAT Deletes Addition as CIT(A) Adopted “Whims & Fancies”!
PAN Cannot Override Legal Ownership- ITAT Blasts Revenue for Taxing Individual Instead of HUF/Trust
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.
