Income Tax
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Section 68 Addition Upheld as Loans Were Accommodation Entries: ITAT Mumbai
ITAT Quashes Reassessment as AO Invoked Section 147 Instead of Section 153C
Gujarat HC Disposes Revenue Appeal as Tax Effect Was Below CBDT Monetary Limit
ITAT Allows Deduction for Hidden Expenditure as Entire On-Money Cannot Be Taxed
Entire On-Money Receipt Not Taxable as Only Embedded Profit Can Be Assessed
Section 68 Addition Upheld as Assessee Failed to Prove Genuineness of Loan Transactions
SC Dismisses SLP as Section 68 Addition Was Based on Tribunal’s Factual Findings
Cheque Payments & Confirmations Not Enough; Gujarat HC Confirms Section 68 Addition
Income Tax Appeal Against Inadequate Sentence Not Maintainable: Karnataka HC
Bombay HC Sets Aside Income Tax Jurisdiction Transfer Due to Absence of Specific Reasons
Section 263 Revision Quashed as AO Adopted a Possible View on Section 80IA Deduction
Gujarat HC Quashes Reassessment Notice Issued Beyond Surviving Limitation Period
Section 50C Applies to Transfer of Land to Govt-Linked Housing Society; ITAT Upholds Section 263 Revision
ITAT Upholds SEB Consumer Tariff for Section 80-IA Deduction on Captive Power Transfers
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.
