Income Tax
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Real Estate Company Not a Shell Entity Merely Due to Low Turnover and Profits
Section 80IB Deduction Cannot Be Reduced by Section 80HHC Deduction During Computation: ITAT Delhi
ITAT Condones 700-Day Appeal Delay as Notices Were Allegedly Sent to Wrong Address
ITAT Restores Appeal as Taxpayer Could Not Respond to SCN Due to Illness
Delhi HC Quashes Reassessment Notice as It Was Issued Beyond Ten-Year Limitation
ITAT Condoned 524-Day Delay as Assessee Was Unaware of Assessment Order
Section 68 Addition Deleted as Revenue Failed to Prove Round-Tripping by Assessee
ITAT Allows Subsidiary Investment Write-Off as Business Loss as Investment Was Made for Commercial Expediency
ITAT Allows Full Tax Exemption on BSNL VRS Compensation as It Qualifies as Retrenchment Compensation
Section 2(22)(e) Addition Cannot Be Made on Non-Shareholder Entity: Calcutta HC
Reassessment Notice Upheld as Time Allowed for Reply Is Excluded While Computing Limitation: Delhi HC
Section 54F Deduction Allowable Despite Delayed Registration of Flat: ITAT Bangalore
ITAT Allows Carry Forward of Capital Loss Despite DTAA Exemption on Capital Gains
ITAT Deletes LTCG Addition as DVO cannot Reduce FMV Backed by Registered Valuer Report
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.
