Income Tax
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ITAT Pune Rules Land Sold to Developer as Rural Agricultural Land, Deletes ₹2.74 Cr Addition
Secured vs Unsecured Loans Not Comparable – Interest Paid to Relatives at 15% Allowed
Past Acceptance No Defence in 263 – Tribunal Says Tax Depreciation Must Follow Act
ITAT Delhi Deletes ₹13 Lakh Cash Deposit Addition Linked to Sale of Rural Agricultural Land
General Format SCN Without Specific Charge Cannot Sustain 271(1)(c) Penalty
Members’ Club Not Eligible u/s 12A but Mutuality Defence Restored for Fresh AO Check
ITAT Bangalore Accepts Cash Advances from Flower Buyers – Deletes ₹34.50 Lakh Addition
271D/271E Penalty – Cash from Uncle for Studies – Delay Condoned & Penalty Appeals Restored
ITAT Delhi Quashes Assessment: No 143(2) Notice by Jurisdictional AO
ITAT Delhi Moderates NP Estimation: Rate Cut from 8% to 4% as Books Not Rejected
80M deduction & GST refund mismatch: CPC Cannot Make Debatable 143(1) Adjustments
ITAT Delhi Partly Allows Jeweller’s Appeal: ₹50 Lakh Bogus Sale Addition Upheld
Shell Companies Can’t Lend Crores: ITAT Confirms ₹14.69 Cr Cash Credit Addition
No Fixed Place, Service PE or DAPE: ITAT Delhi Holds No PE in India, Profit Attribution Quashed
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.
