Income Tax
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Entire Bogus Purchase Cannot Be Added: ITAT Limits Taxation to Profit Element
ITAT Mumbai Deletes ₹37 Lakh 271D Penalty: Third-Party Statements Insufficient
Mere Wrong Audit Report Entry Can’t Justify U/s 143(1) Disallowance: ITAT Kolkata
ITAT Kolkata Strikes Down Assessment for Lack of Jurisdiction Based on CBDT Limits
Small Stamp Duty Variations Cannot Trigger Section 56(2)(vii)(b) Deemed Income
Section 153C Proceedings Quashed as Time-Barred & Below ₹50 Lakh Threshold: ITAT Delhi
Section 68 Addition Deleted as Loans Confirmed and Taxed in Lenders’ Hands
ITAT Mumbai Deletes Section 14A Disallowance as No Expenditure Was Claimed
Section 56(2)(x) Addition Deleted as Demerger Was Tax-Neutral
ITAT Delhi Upholds Deletion of Section 68/69C Additions on Demonetisation Cash Sales Evidence
Defective Penalty Notice Invalidates Section 271(1)(c) Penalty: ITAT Delhi
ITAT Mumbai Upholds 8% Presumptive Income on Demonetisation Cash Deposits
Section 153C Assessments Beyond Six-Year Block Invalid: ITAT Delhi
Belated Return Not a Bar to Section 115BAA Concessional Tax: 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.
