Income Tax
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Reassessment Notice & Order Quashed for Denial of Opportunity to Produce Accounts
Repayment of Accepted Loans Cannot Be Treated as Unexplained Income
Section 80HHC Amendment Non-Retrospective: Delhi HC Quashed Reassessment Notice
Tax Demand Inconsequential After Section 10(46) Exemption Notification: Calcutta HC
Income Tax Reassessment Notice Quashed for Breaching 10-Year Limitation Rule
PCIT-263 Upheld for Inadequate Inquiry in Search Assessment: ITAT Mumbai
Section 69C Not Invokable: ITAT Mumbai Dismisses Revenue Appeal in Bogus 80GGC Case
Share Capital & Premium Can’t Be Added Solely for Non-Appearance of Investors: ITAT Kolkata
Reassessment for AY 2015-16 Time-Barred After Rajeev Bansal Ruling: ITAT Kolkata
Section 54 Deduction Allowed Even If Original Return Was Not Filed: ITAT Mumbai
No Section 271AAA Penalty Where Search Disclosure Was Proper: ITAT Kolkata
Bogus Purchases: ITAT Mumbai Restricts Addition to 5% Where Sales Are Undisputed
ITAT Mumbai Deletes On-Money Additions u/s 69/69B; No Cross-Examination of Excel Data
Penalty on Estimated Bogus Purchases Unsustainable: ITAT Pune
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.
