Income Tax
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ITAT Surat: Property Addition Set Aside – CIT(A)’s Order Based on Incorrect Facts
ITAT Mumbai: Section 56(2)(x) Addition Deleted – Stamp Value on Earlier Allotment Date Applies
No Capital Gain Taxation on Untransferred JDA Land: ITAT Pune
Delhi ITAT Deletes ₹7.15 Crore Protective Addition After Substantive Assessment Quashed
ITAT Mumbai Restores R&D Deduction Claim Under Section 35(1)(i) After DSIR Rejection
ITAT Pune Rejects Section 80P Claim for Failure to Prove Co-operative Society Status
Kerala HC: Bank Cannot Rely on Expired Income Tax Prohibitory Order to Freeze Account
Kerala HC: Appeal Restored After 10 Years – Form 35 E-Filing Transition Caused Confusion
ITAT Chandigarh: PCIT Cannot Invoke Section 263 Merely Over Cryptic Assessment Order
ITAT Chandigarh Remanded Cash Deposit Additions Over Multiple PAN Issue
ITAT Bangalore: ₹200 Crore Turnover Filter Applied to SWD & ITeS TP Comparables
ITAT Bangalore: Software TP Adjustment Reworked After ESOP and Comparable Analysis
ITAT Bangalore: Software TP Adjustment Remanded Using ₹200 Crore Turnover Filter
ITAT Bangalore Excludes High-Turnover Comparables in Software Development TP Adjustment
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.
