Income Tax
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Section 10(10B) Exemption Allowed on BSNL VRS Second Instalment: ITAT Chandigarh
Section 80P Deduction Allowed on Bank Interest & Nominal Member Transactions: ITAT Pune
Section 147 Reassessment Quashed as No Income Escaped Assessment: ITAT Agra
Appeal Dismissed as AR Appeared Without Prescribed Uniform in Virtual Hearing: ITAT Cuttack
Section 37 Bogus Purchase & Section 69A Gold Addition Deleted: ITAT Mumbai
Section 56(2)(x)(b) Addition Remanded for DVO Reference Examination: ITAT Chennai
ESOP Discount Is Allowable Business Deduction, Not Contingent Liability: ITAT Mumbai
Reassessment Quashed for Approval by Wrong Authority Under Section 151(ii): ITAT Mumbai
Aircraft Lease Income Held Not Taxable Under Article 8 of India-Ireland DTAA: ITAT Mumbai
Aircraft Lease Income Held Not Taxable in India Under Article 8 DTAA: ITAT Mumbai
Foreign Exchange Gain Is Operating Income Under TNMM: ITAT Delhi
Remand Report Accepting Assessee’s Explanation Bars Additions: ITAT Delhi
One-Time Contractor Settlement Deductible Under Section 37: ITAT Chennai
Typographical Error in Form 10AB Cannot Defeat Section 12AB Registration: ITAT Mumbai
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.
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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.
