Income Tax
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Taxpayer Wins ₹4.04 Cr Relief: AO Cannot Rely on Non-Response to S.133(6) Notice – Reason: Onus Shifts to Revenue After Primary Proof
Capital Gains Boost: Indexation Allowed from Letter of Intent Date by ITAT Mumbai – Reason: Acquisition of Vested Rights
Taxpayer Win: ITAT Mumbai Confirms Retrospective 10% Safe Harbour for Real Estate Business under Section 43CA
ITAT Quashes Reassessment: Escaped Income Below Rs. 50 Lakh Bars Extended Time Limit Reason
Procedural Breach Kills Assessment – ITAT Rules Non-Mention of Scrutiny Type in Notice is Fatal Defect
Entry-Provider Tag Not Enough Reason: ITAT Upholds Deletion of Unexplained Share Capital Addition
Business-Linked Losses: ITAT Confirms Deductibility of Exchange – Difference Derivatives for Exporters
Don’t Add Purchases Based on GST Portal Data Alone: ITAT Remands for Full Reconciliation
No Retrospective Remand: ITAT Scraps CIT(A)’s Order in Bogus LTCG Case for Wrongly Invoking New Law
Reassessment notice u/s. 148 beyond specified limit is time barred
TDS Credit Mismatch: Assessee Right vs Form 26AS
Concept of ‘make available’ vis-à-vis Fee for Technical Services (‘FTS’): An Indian tax perspective
Section 87A Rebate: Harsh Provisions for small taxpayers & passive income earners
Reopening u/s 147 quashed – AO’s “fishing enquiry” to investigate offshore receipts not valid formation of belief- Reassessment void where AO reopens only to verify PE/offshore claims
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.
