Income Tax
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Section 148 Reassessment Quashed for Invalid Section 151 Sanction: ITAT Mumbai
Section 36(1)(iii) Interest Disallowance Deleted on Loan to Wholly Owned Subsidiary: ITAT Delhi
Section 10(23C)(iiiad) Benefit Allowed as Turnover Fell Below ₹1 Crore: ITAT Amritsar
Section 36(1)(iii) Interest Deduction Allowed as Issue Covered by Earlier Ruling: Madras HC
CIT(A) Cannot Dismiss Appeal for Non-Prosecution, Matter Restored: Bombay HC
Section 263 Revision Set Aside as AO Conducted Enquiry & Section 24(a) Deduction Allowed: P&H HC
Section 263 Revision Set Aside as AO Conducted Due Enquiry: P&H HC
Section 54F Exemption Issue Remanded for Fresh Computation After DVO Valuation: ITAT Chennai
Section 54F Exemption on Actual Sale Consideration, Not Section 50C Value: ITAT Chennai
Section 54F Exemption Based on Actual Sale Price, Not Section 50C Value: ITAT Chennai
Section 143(1) Demand Set Aside for Failure to Prove Service of Intimation: Bombay HC
Section 143(2) Assessment Quashed for Notice Issued by Officer Without Jurisdiction: ITAT Delhi
Section 148 Reassessment Quashed as ₹50 Lakh Threshold Not Met for Same Transaction: ITAT Delhi
Can Section 148A Reassessment Be Based Solely on Red-Flagged Information?
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.
