Income Tax
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Without purchases there cannot be sales – Mumbai ITAT rejects 100% bogus purchase addition
Mumbai ITAT quashes reassessment for AY 2015-16 – AO’s “artificial inflation” of escaped income held legally unsustainable
No addition for “bogus purchases” when assessee already declared higher GP – Mumbai ITAT grants major relief to diamond trader
Section 194C TDS Cannot Create Tax Liability on Dissolved Firm if Receipts Already Offered to Tax
Bank Accounts Cannot Remain Frozen After ITAT Remand of Tax Appeals: Gauhati HC
ITAT Remands ₹38.04 Lakh Tax Addition as Legal Heir Was Not Given Effective Opportunity
ITAT Quashes Assessment as DRP Order Upload Date Determined Limitation Period
ITAT deletes ₹5.68 Crore Addition as Encashed Bank Guarantees Were Govt Funds
Delay in Filing Form 10B Not Grounds to Deny Section 11 Exemption When Report Was Filed Before Processing
ITAT Deletes ₹3.03 Crore Addition as AO Failed to Conduct Independent Verification
Pune ITAT Allows Section 80P(2)(d) Deduction on Co-operative Bank Interest; Totgars Not Applicable
Tax Implications of Investing in FDs, MFs, PMS and AIFs
ITAT Remands Case as CIT(A) Ignored Survey Findings on Accommodation Entries
Presumptive Taxation Simplified as Income Tax Act 2025 Merges 44AD, 44ADA & 44AE
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.
