Income Tax
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Karnataka HC Quashes Cryptic Stay Rejection – Protects Assessee from Coercive Tax Recovery
Reassessment u/s 148A by Jurisdictional AO beyond scope of Sec 151A quashed by Karnataka HC
Donor’s Written Direction Not Mandatory for Corpus Donations: Karnataka HC
Services to overseas group entities not “FTS” under Section 9(1)(vii) & DTAA: Karnataka HC
ITAT Mumbai Deletes ₹116.5 Cr Share Premium/Capital Addition, Slams DCIT for Incomplete Inquiry
Delhi HC Upholds Reopening Based on ‘Yes, I Am Convinced’ Approval
ITSC Applications Filed Before 31 March 2021 to Be Treated as Pending
Faceless AO Ignored Evidence of Family Funding – Tribunal Restores Justice for Homemaker
Additions u/s 2(22)(e) & 68 Deleted – Payments Held Against Salary & Refund from Broker
Addition u/s 68 on Alleged Bogus Sales Deleted – Tribunal Holds Double Taxation Unjustified
Penalty u/s 271(1)(c) for Disallowed Bad Debts – Tribunal Upholds Deletion by CIT(A)
Principles of natural justice prevail – ITAT directs fresh hearing in penny stock commission case
ITAT Mumbai remands ₹3 crore addition case – directs AO to verify FDs, cash & flat investment afresh
Penny stock theory fails again – Revenue can’t rely on generic Investigation Wing reports: ITAT Mumbai
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.
