Income Tax
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No Addition for Bogus Purchases Without Cogent Evidence – Diamond Trader; Revenue Failed to Prove Nexus
ITAT Quashes Sec 263 Revision Against Mauritius FPI for Lack of Error or Prejudice to Revenue
Advance for Unsold Land Not Taxable, Only Actual Sale Consideration taxable
LTCG on Minor Daughter’s Share Kept in Court Not Clubbable with Assessee’s Income
ITAT Mumbai Quashes 153A Assessment Without Incriminating Material | ESOP Expense Allowed
Challenges of OECD Pillars 1 & 2 for Indian MNEs and Tax Authorities
No PE as company doesn’t have any control over employees seconded to Indian entity
Deduction u/s. 80P(2)(d) admissible on interest received from Kanchipuram Central Co-op. Bank
Matter restored as excess sugarcane price and sale of sugarcane at concessional rate needs fresh consideration
Ex-parte order sustaining addition u/s. 69A restored back as notice sent to old e-mail
Exemption u/s. 11 cannot be denied merely for delay in filing Form 10B: ITAT Ahmedabad
Additions of ₹1.46 Cr demonetization cash deposits and derivative losses were remanded for fresh adjudication
Allowability of sec.80IA deduction on interest on Fixed Deposits and TDS refund linked to business
Imposition of ₹2k cost for unexplained delay in filing appeal and matter remanded for fresh adjudication
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.
