Income Tax
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Redevelopment Compensation is Capital Receipt, Not Taxable as Income: ITAT Mumbai
Capital Introduction Explained with Documentary Evidence – Section 68 Addition Deleted
No Rule 46A Violation Where AO Ignored Remand Opportunities: ITAT Dehradun
Section 69A Addition Quashed Where Property Payment Was Deferred & Paid Subsequently
Only Profit in Brokerage Receipts Taxable, Not Gross Amount: ITAT Hyderabad
Reopening Invalid Where Capital Gains Already Disclosed and Taxes Paid
Lal Dora Property to Be Valued as Agricultural/Residential for Section 50C
Bank Account Used as Conduit: Entire Credits Not Taxable; Only Commission Income Assessable
Presumptive Taxation under Section 44AD Shields Business Receipts from Separate Additions
Direct ITAT Appeal Rejected Due to Failure to Approach DRP
Unsecured Loans Examined in Earlier Assessments Cannot Be Re-added on Same Material
PF Contribution Paid Within Due Date Cannot Be Disallowed Merely Due to Typographical Error
Section 263 Order Set Aside Where Underlying Section 153C Assessment Itself Is Time-Barred
Reassessment Quashed for Sanction by Incompetent Authority
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.
