Income Tax
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No indefinite pretrial detention when existence of proceeds of crime is doubted
No Artificial Split of Bank Credits; Entire Deposits Treated as Business Receipts @ 4%
Demonetisation Cash from Property Sale Explained; Addition Deleted Despite Time Gap
Section 12A/80G Cannot Be Rejected Solely for Lack of Past Activity: ITAT Chandigarh
145(3) Upheld but 1% NP Excessive; Beer Trader’s Margin Rationalised to 0.50%
Section 68 Addition Deleted; Loans from Alleged Entry Providers Accepted on Consistency
Section 56(2)(vii)(b) Automatic, but DVO Reference Mandatory When Valuation Disputed
Unsigned Agreement = No Incriminating Material; ALV Addition in 153A Unsustainable
Entire Bank Deposits Not Income; Only Profit Element Taxable @ 12%
Bhandara Expenses = Relief of Poor & Valid Application of Income: ITAT Agra
No Tangible Material: Reassessment Invalid; Bogus LTCG Addition Deleted– ITAT Chandigarh
ITAT Chandigarh Denied Section 80G Registration on Ground of Religious Activities Set Aside
Reassessment u/s 148 Quashed Where No Addition Made on Recorded Reasons: ITAT Cuttack
No Section 263 Action on Debatable Penny Stock LTCG After Full AO Probe: ITAT Mumbai
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.
