Income Tax
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ITAT Deletes Section 56(2)(viib) Addition as AO Changed Valuation Method Contrary to Rule 11UA
Important definition under Income-tax Act, 1961
ITAT Accepts Section 158A Claim as Identical Question of Law Was Pending Before HC
Madras HC Dismisses Tax Appeals as Infructuous After Tribunal Disposed Main Appeals
ITAT Deletes Bogus Purchase Addition as Sole Reliance on Retracted Statement Unsustainable
List of ICDS and its reconciliations with Accounting Standards
No disallowance of quantified liabilities, documented payments & reconciled books on a purely ad hoc basis
Various Income Tax exemptions available against Capital Gains
Section 68 Addition Deleted as Creditworthiness Depends on Ability to Arrange Funds
CIT(A) Cannot Dismiss Appeal Ex Parte Without Deciding Interest Dispute on Merits
ITAT Restores Appeal After 1542-Day Delay as Notice was Sent to Former Tax Consultant
Section 80P Deduction Cannot Be Denied for Wrong ITR Column Selection: ITAT Nagpur
Section 148A(b) Notice Invalid if Mandatory 7-Day Reply Period Was Not Granted
ITAT Deletes Capital Gain as Rural Agricultural Land Is Not a Capital Asset
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.
