Income Tax
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Fresh Claim of Section 54F Cannot Be Rejected Mechanically – ITAT Remands for Reconsideration
Entire Bank Deposits Can’t Be Taxed U/s 69A – Only Reasonable Commission Income Taxable
Reassessment Beyond 3 Years Invalid if Escaped Income Below ₹50 Lakh: ITAT Chennai
NIL withholding tax application cannot be allowed on based on argument of pending assessment
Redeployment of Withdrawn Cash Cannot Trigger Section 68 Addition: Source Proven
Demonetisation Cash Sales Accepted: No U/s 68 Addition Without Proof of Bogus Sales
Vague Penalty Notice Invalid: ITAT Deletes 200% Penalty Under Section 270A
Reassessment Quashed as Notice Beyond 3 Years Approved by Wrong Authority
8% Profit Estimate Cut to 3%: AO Ignored Books & Industry Reality
Huge Delay Without Proof Rejected: Liberal View Has Limits
Delay Condoned for FTC Claim: Pursuing Rectification is Valid Cause
11-Year Delay Not Condoned: Mere Rectification Plea No Excuse
Reassessment Notices Quashed Due to Approval by Wrong Authority Under Section 151
FTC Cannot Be Denied for Late Form 67: Substantive Right Prevails
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.
