Income Tax
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Initial Public Offer expense allowed u/s. 48(i) proportionate to shareholding
TDS Rates & Thresholds for FY 2026–27 (w.e.f. 01.04.2026) – As per Income Tax Act, 2025
CBDT Introduces Mandatory UIN System to Track No-TDS Declarations Under Form 121
LIC Premium Allowed as Deduction Since Liability Was Not Contingent: Madras HC
Section 148 Notice Quashed as SC Ruling Settled Limitation Issue: Bombay HC
ITAT Bangalore Upholds Disallowance of ₹1.37 Cr “Consultancy” to Swamiji; Reassessment Valid
Addition Reduced as AO Failed to Disprove Books but Assessee cannot Fully Explain Cash Surge
Set-Off of Capital Loss Beyond 8 Years Denied; 50% Deduction on Interest Allowed: ITAT Panaji
Royalty on Logo Allowed; Disallowance Without Examining Business Purpose Invalid: ITAT Delhi
ITAT Surat Deleted Interest Disallowance as Loans Given from Interest-Free Funds
SROs Qualify as Charitable Entities under General Public Utility: Section 2(15) – ITAT Delhi
GST Not Income Under Section 44B; Statutory Levy Excluded from Presumptive Taxation
Draft Assessment Order Cannot Create Tax Liability Without Final Order: Calcutta HC
Section 68 Addition Deleted as Identity & Creditworthiness of Investors Proved
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.
