Income Tax
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Bank Account Seizure Quashed as Director Not Liable for Company’s Tax Dues Due to Separate PAN: Delhi HC
ITAT Mumbai Orders Allocation of Head-Office Costs to Eligible Units to Compute 10B/80-IB Deductions
ITAT Delhi Sets Aside Assessment as Faceless Jurisdiction Was Assumed Prematurely
ITAT Deletes Tax Adjustment as CPC Failed to Issue Mandatory Intimation Before Processing Return
Section 80C Deduction & HRA Exemption Rejected as Assessee Failed to Produce Evidence
Addition for Bogus Sale Upheld as Assessee Failed to Prove Genuine Transactions: Jharkhand HC
Inadvertent Error in Partnership Deed on Remuneration Limits Cannot Justify Disallowance: ITAT Mumbai
Temple Authority Assessment Order Set Aside as Ex-Parte Proceedings Denied Proper Opportunity
Penalty Cannot Be Levied for Erroneous DTAA Claim Due to Bona Fide Interpretation of Law
ITAT Deletes AMC Income Addition as Section 43CB Mandates Straight-Line Revenue Recognition
J&K HC Upheld Addition as Inflated Stock Statement Given to Bank Showed Higher Quantity & Value
Addition for Cash Car Purchase Set Aside Because Revenue Relied on Suspicion Without Evidence
Income Tax Demand Invalid as Original Assessment Had Nil Liability & No Reopening Was Initiated
ITAT Remands 12A & 80G Applications for Fresh Review Over Lack of Adequate Opportunity
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.
