Income Tax
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Discrepancies in Returns & Non-production of Books: Appeal dismissed Over Unexplained Income
Blanket Mechanical 153D Approval Approval Not Valid – ITAT Delhi Quashes Assessments
Tribunal Applies Real Income Theory, Restricts Additions to 10% of Bogus Purchases
Verification, Not Estimation – ITAT Delhi Corrects AO’s Approach on Creditors & Expenses
ITAT Delhi Quashes Reassessments Based on Retracted Statement of Entry Operator
No Independent Verification, No Addition: ITAT Upholds Relief in Penny Stock Case
Relief for Senior Citizen: ITAT Limits Cash Deposit Addition, Cites Madras HC Ruling on 115BBE
ITAT Deletes Adhoc Additions & Penalty, Allows Business Losses Despite Mis-nomenclature of Expenses
ITAT Delhi Deletes ₹25.70 Cr FTS/FIS Additions- Marketing & Reservation Receipts Not FTS
ITAT Deletes ₹30.65 Lakh Addition: Cash Gift from Grandmother Held Genuine
No Penalty u/s 271C for Late Deposit of TDS Already Deducted
SFIO Report Alone Cannot Justify Massive ₹1000 Cr Addition: ITAT Remands
Assessment in Name of Deceased Not Void if Notice Issued During Lifetime
Omission to Disallow Interest on Unexplained Loans is Error – 263 Jurisdiction Valid
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.
