Income Tax
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Section 50AA: Why Long-Held Assets Can Still Be Taxed as Short-Term Gains
Bombay HC Quashes Penalty as Order Giving Effect Was Not Passed Within Limitation
Section 80-IA Deduction Denied as Trade Credits Remained Unexplained Under Section 68
ITAT Mumbai Restricts Section 14A Disallowance as It Cannot Exceed Exempt Income
ITAT Rejects Section 143(1) Adjustment for Lack of Mandatory Prior Intimation
No Separate Approval Needed for 10% FTS Tax Benefit Where RBI Automatic Route Applies
CIT(A) Must Decide Appeals on Merits, Not Dismiss Them Mechanically: ITAT Delhi
ITAT Delhi Deletes Section 14A Disallowance as It Was Beyond Limited Scrutiny Scope
ITAT Bangalore Deletes Additions as AO Issued Second Draft Assessment Order
Section 80P Deduction Allowed Despite Nominal Members: ITAT Bangalore
Delay Alone Cannot Defeat Section 80G Approval, ITAT Orders Fresh Review
Bogus Purchase Addition Cannot Survive as Suspicion Cannot Override Documentary Evidence: ITAT Kolkata
Section 68 Addition Quashed as Cross-Examination Opportunity Was Only an Eyewash
Writ Petition Not Maintainable as Election Affidavit Disputes Require Election Petition: Madras HC
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.
