Income Tax
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Prior exemption claims under Sections 11 & 12 cannot justify denial of 80G approval
Assessment on Non-Existent Entity Held Void; ITBA Glitch Not a Valid Defense: Delhi HC:
Tax Planning vs. Tax Evasion: What the Tiger Global Verdict Really Tells Us
Section 197 Application Can’t Be Rejected Solely Due to Outstanding Tax Demand: SC
BSNL VRS Compensation Exempt as Retrenchment Under Section 10(10B): ITAT Ahmedabad
No Penalty for Voluntary Correction of Bona fide computational mistakes During Assessment
Loose Sheets Found in Employee’s Two-Wheeler Not Valid Basis for Unaccounted Sales Addition
Sec 149(1)(b): Reopening Beyond 3 Years Only if Escaped Income amount to ₹50 lakh or more
Direct Tax Collections Rise 7.19% Due to Lower Refunds Impact
Sec 263 Invalid Where PCIT Didn’t Challenge Sec 153D Approval in 153C Case
On-Money Addition Deleted; Third Party Excel Statement Not Enough Without Proof
Wrong Section (69A vs 68) Not Fatal – Accommodation Entry Addition Sustained by ITAT
Section 68 Addition Deleted as AO Relied Only on Suspicion & Third-Party Material
No Irrevocability Clause Required for Sec 12AB Registration – Bombay HC Quashes Rejection of Trust Registration
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.
At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.
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.
