Income Tax
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Income Tax Demand Quashed as Resolution Plan Extinguished Pre-CIRP Tax Dues
ITAT Orders Fresh Review as On-Money Addition Was Based on Loose Sheet
ITAT Quashes Section 263 Revision Because PCIT Raised New Issues Beyond SCN
Kerala HC Denies Interest Deduction as Borrowed Funds Were Invested as Capital in Partnership Firm
Appeal Dismissed as Infructuous as Rectification Order Restored Section 80P Deduction
Section 80P Deduction Disallowance Set Aside as CPC Made Adjustment Without Hearing Assessee
Reassessment Held Void as AO Invoked Section 147 Instead of Section 153C
ITAT Quashes Reassessment as Search-Based Material Required Action Under Section 153C, Not Section 148
Appeal Dismissed as Section 143(1) Intimation Merged With Subsequent Scrutiny Assessment
Charitable Trust Exemption Allowed as Delay in Form No. 10 Filing cannnot Defeat Genuine Claim
Charitable Trust Exemption Restored as Delay in Form 10B Filing Alone cannot Defeat Claim
Income Tax Reopening Sustained as Assessee Was Alleged Beneficiary of Accommodation Entries
Reassessment Notice Upheld as Information on Shell Companies Constituted Tangible Material
Delhi HC Allows Reassessment as DRI Information on Alleged Bogus Purchases Constituted Tangible Material
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.
