Income Tax
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Entire Bogus Purchase Addition Set Aside, 10% Estimated
Benefit of indexed cost of acquisition allowed while computing book profit u/s. 115JB
Revenue Appeal Dismissed After Reassessment Fails on Legal Grounds
Section 292BB Cannot Cure Lack of Jurisdiction in 143(2) Notice
Repayment of Loans with TDS Negates Accommodation Entry Allegation: ITAT Delhi
Sale of Agricultural Land Justifies Cash Deposits – ITAT Delhi Deletes Section 69A Addition
Rental Income Taxed as House Property Due to Main Business Object
ITAT Remands Double PAN Assessment for Proper Bank Deposit Reconciliation
Reopening Invalid If Original Issue Not Added in Assessment: ITAT Delhi
ITAT Delhi Remands Section 12AA Registration Denial After Object Amendment
Bad debts u/s. 36(1)(vii) are to be allowed once offered as income in any year
ITAT Deletes Section 68 Addition on Genuine Loans from Relatives; Interest Allowed
TP adjustment restricted to international transaction with AE as segmental accounts not maintained
Bank Statement Enough to Test Loan Creditworthiness: ITAT Delhi deletes Section 68 Addition
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.
