Income Tax
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No TDS on compensation under a mediated land acquisition settlement: Karnataka HC
Bad Debts Written Off Cannot Be Disallowed as Prior Period Expenses: ITAT Mumbai
Capital Gains Cannot Become Business Income Merely Due to Borrowed Funds: ITAT Ahmedabad
Reassessment by JAO Invalid Due to Mandatory Faceless Assessment Procedure: Madras HC
AO Cannot Replace DCF Method With NAV Method for Share Valuation under Rule 11UA: ITAT Mumbai
Tax Planning while setting up of a business with reference to Nature of business
Interest on Bank Deposits Can Still Qualify for 80P Deduction- Bangalore ITAT Gives Relief to Credit Co-operative Society
Income From AOP Held Non-Taxable in Member’s Hands as It Was Share of Profit: SC
LTCG Benefit Allowed as Ownership Rights Passed Before Registration: ITAT Delhi
AO Cannot Override Assessee’s Section 36(1)(vii-a) Bad Debt Deduction Option: Madras HC
Concessional 22% Corporate Tax Rate Cannot Be Denied for Procedural Lapse: Rajasthan HC
DVO Valuation Alone Cannot Justify Section 69 Addition Without Extra Payment Proof: ITAT Amritsar
Reopening Quashed as It Was Based on Unverified PDF Complaint Found on Third Party’s Mobile Phone: Gujarat HC
Gujarat HC Quashed Section 148 Notice as Seized Material Had No Link With Assessee
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.
