Income Tax
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Deduction u/s 80P was allowable on interest earned on surplus lending funds as same was related to Banking business
Addition of unexplained stock u/s. 69 upheld as claim of stock not supported by verifiable evidences
Govt Notifies ₹4 Lakh, ₹8 Lakh Income Tax Perquisite Limits
Application of trust u/s. 12AB rejected as objects are not for benefit of general public
CAG Highlights ₹7,929 Crore Errors in Income Tax Assessments
Matter of unexplained deposit remanded as assessee failed to represent before AO and CIT(A)
Foreign Tax Credit cannot be denied merely for delayed filing of Form No. 67: ITAT Jaipur
ITAT Chennai Remands Demonetization Cash Deposit Case Back to CIT(A)
Exemption u/s. 11 granted as registration u/s. 12A remained valid till grant of provisional registration u/s. 12AB
Section 271(1)(c) Penalty Notice Invalid If Grounds Not Specified: Calcutta HC
Sale of Renewable Energy Certificates Not Taxable: ITAT Ahmedabad
ITAT Mumbai Upholds Corporate Death Principle in Tax Assessments After Amalgamation
Madras High Court Quashes Reassessment Notice for Being Beyond Limitation Period
Section 87A Rebate against Tax computed on STCG: ITAT Judgement
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.
