Income Tax
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Delay of 50 Days in Filing Form 10B Condoned as Genuine Hardship Was Shown: Bombay HC
840-Day Appeal Delay Not Condoned; Blaming CA Not Sufficient Cause: ITAT Bangalore
Educational Society Cannot Be Treated as Religious Trust Without Evidence: ITAT Bangalore
Sec 270A Penalty: Immunity U/s 270AA Cannot Be Denied Without Hearing – ITAT Bangalore
ITAT Bangalore Deletes Sec 69A Addition on Demonetisation Cash Deposits Explained by Earlier Withdrawals
Sec 68 Addition on Opening Loans Deleted; Interest & Salary Allowed – ITAT Bangalore
Sec 271(1)(b) Penalty Deleted as Assessee Later Complied; Nil Income Accepted – ITAT Bangalore
Sec 44AD: Cash Deposits Within Turnover Not Unexplained; ITAT Deletes Additions Based Only on Survey Statement
Depreciation disallowed as creation of goodwill in intra-group merger was colourable transaction
Draft Income Tax Rules 276 and 277 – Reporting by Eligible Investment Funds under Section 9(12) and Taxable Interest on Excess PF Contributions
Draft Income Tax Rule 275 – Approval of the investment fund at its option for the purposes of section 9(12)
Reassessment Notice to Deceased Person Invalid Because Law Requires Notice to Legal Heirs
ITAT Remands Case Because CIT(A) Ignored Additional Evidence Filed by Assessee
Draft Income Tax Rule 274 – Guidelines for investment fund for availing benefit under section 9(12) read with Schedule I
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.
