Income Tax
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You’re Still Taxed After You’re Gone- But Your Heir Only Pays What’s in the Cupboard
No addition based solely on a third-party document denied by assessee
ITAT Ahmedabad Deletes Penny Stock Addition for Lack of Evidence- Suspicion Cannot Replace Proof
Sale of Plots May Be Business Income, Not Capital Gains- AO to Verify Whether Land is Stock-in-Trade or Capital Asset: Ahmedabad ITAT Restores Matter
Cash Deposits from Business Debtors Explained-Addition u/s 68 Deleted by ITAT Ahmedabad
ITAT Ahmedabad: 270A Penalty Proceedings Set Aside as Quantum Appeal Restored for Fresh Adjudication
Assessment Quashed: ITAT Finds Notice u/s 143(2) by Non-Jurisdictional AO After Transfer u/s 127 Invalid
Diwali Gifts & The Tax Twist
Only real income taxable- ITAT Delhi deletes ₹52.65 Cr notional interest addition & allows inventory loss from theft/flood
Extrapolation of Suppressed Profit Beyond Search Date Without Incriminating Material Deemed Invalid: ITAT Delhi
Wrong clause in Form 10AB not fatal – ITAT Pune remands matter for fresh consideration of 12AB & 80G registration
Sports Club Receipts Within 20% Safe Harbour; Section 263 Revision Set Aside: ITAT Pune
“Make-Available” Clause Saves Pratt & Whitney – Wins ₹242 Cr FTS Dispute- Aircraft Engine Repair Abroad Not FTS – Tribunal Holds No Transfer of Know-How to Indian Clients
ITAT Pune Quashes PCIT’s 263 Order Passed in Haste – “Hear the Other Side” Rule Violated, Says Tribunal
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.
