Income Tax
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Loans via Banking Channels not Bogus Merely on ‘Shell Company’ Allegation
Wrong TAN in Typing Cannot Deny Genuine TDS Credit: ITAT Ahmedabad
No 271D Penalty Without Clear Finding of 269SS Violation: ITAT Deletes ₹1 Crore Penalty
ITAT Quashes ₹287 Crore Addition- Third Party Excel Sheets Alone Not Enough
Unregistered Sale Agreement Can Qualify for Section 54 Relief: Hyderabad ITAT
Ad-Hoc 10% Expense Disallowance Deleted: ITAT Says AO Cannot Make Additions on Pure Guesswork
Third-Party ERP Entries Alone Cannot Justify Section 69 Addition: ITAT Deletes Jewellery Purchase Addition
Reassessment Quashed for Ignoring Reply Filed Under Section 148A(b): ITAT Slams ‘Borrowed Satisfaction’
Entire Land Deal Receipts Cannot Be Taxed as Income: ITAT Restricts Addition to Estimated Profit Element
Goat Trader Fails to Explain ₹7.10 Crore Bank Deposits: ITAT Upholds Section 69A Addition Despite U/s 44AD Claim
No 270A Penalty When Income Declared in 148 Return Is Accepted: ITAT Deletes ₹4.91 Lakh Penalty
Subsequent 12AA Registration Saves Trust: ITAT Treats Corpus Donation as Capital Receipt, Deletes Tax Addition
ITAT Deletes Capital Gains & Alleged On-Money Addition: Agricultural Land Outside Section 2(14), 50C Inapplicable
Premature Surrender of Pension Policy Not Taxable as Income from Other Sources: ITAT Ahmedabad
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.
