Income Tax
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Deduction u/s. 80G not deniable merely because payment forms part of CSR expenditure
Revision u/s. 263 not sustained as possible alternative view taken by AO
Capital Payment for Land Purchase Cannot Be Disallowed Under Section 40A(3): ITAT Nagpur
Late Filing of Return Does Not Bar Section 80P Deduction for Pre-2018 AYs: ITAT Mumbai
Section 272A(1)(d) Penalty Deleted as Assessment Completed U/s. 143(3) Despite Non-Compliance
Section 87A Deduction Allowed as Income Below Rs 7 Lakh Despite Computation Errors
Addition Based on Third-Party Software Data Invalid Without Cross-Examination: ITAT Mumbai
Section 263 Revision Quashed as AO Order Not Erroneous or Prejudicial: ITAT Pune
ITAT Mumbai Invalidates Reassessment as Bogus Purchases Not ‘Asset’ Under Section 149
ITAT Deletes Addition Based on AIR Property Data as Assessee’s Evidence Remains Unrebutted
ITAT Allows 10% Safe Harbour on DVO Valuation Due to Estimation Nature of Property Values
Procedural Lapse Cannot Override Substantive Claim: ITAT Allows Depreciation Correction
United Spirits Case: Remand in TP Case Does Not Extend Section 153 Limitation
Income Tax Dept Flags Benami, Foreign Asset and TDS Cases for Action
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.
