Income Tax
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Business Expenses Cannot Be disallowed on Mere Suspicion: ITAT Mumbai
Section 271(1)(c) Penalty Deleted for Cash Deposits Linked to Earlier Withdrawals
ITAT Pune Directs Exclusion of Mutual Funds & Tax-Free Bonds While Computing Rule 8D Disallowance
Chennai ITAT Quashes Section 263 Revision on Excess Stock Taxation
ITAT Agra Quashes Reassessment for initiation on a Non-Existent PAN
Section 54 Allowed on Flat Booking Rights, But Capital Gains on Gifted Share to Wife Clubbed Under Section 64(1)(iv)
ITAT Agra Quashes EPF/ESI Disallowance as Section 143(1) Adjustment not allowed for Debatable Issues
Section 54 Deduction Allowed Despite Joint Ownership as Assessee Funded Purchase: ITAT Chandigarh
ITAT Deletes Full Cash Deposit Addition as Business Income Was Already Accepted
Kerala HC Allows Premature Closure of Fixed Deposits to Enable Dividend Payment in Liquidation
AE Transactions Must Be Benchmarked Separately When Segmental Data Exists: ITAT Delhi
No Fixed Place PE in India as Customer Premises Were Not at Foreign Company’s Disposal: ITAT Delhi
ITAT Restores Section 271AAC Penalty as Quantum Assessment Was Set Aside
ITAT Delhi Remands Demonetisation Case as CIT(A) Failed to Pass a Speaking Order
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.
