Income Tax
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Depreciation on Amalgamation Goodwill Allowed Under Settled Law
Section 68 Loan Addition Solely on Third-Party Statement Fails if no Independent AO Inquiry
ITAT Delhi Upholds Section 80-IC Deduction for Lotus Herbals; Bogus Expansion Claims Rejected
ITAT Mumbai: Invalid Section 148 Notice Leads to Deletion of Tax Demand
Section 68 Addition Fails Without Proof of Actual Penny Stock Trades: ITAT Mumbai
Stamp Duty Value on Allotment Date Applies Under Section 56(2)(x): ITAT Mumbai
Opening Balances and Proven Loans Cannot Be Taxed on Suspicion: ITAT Mumbai
Motor Car Disallowance Deleted as Ownership & Business Use Proved: ITAT Mumbai
Third-Party Material Alone Can’t Trigger Section 153A for Unabated Years: ITAT Delhi
Income Tax Refund Interest Eligible for Section 80-IA deduction: ITAT Hyderabad
Minor COVID-19 Delay Condoned; HC Directs Return Reprocessing with Exemption Benefits
Deduction Allowed Since Form 10CCB Audit Report Filed Before Processing of Return
Notice by Wrong Officer Invalid, ITAT Kolkata Set Aside Entire Assessment
ITAT Kolkata Quashed Assessment for Exceeding Limited Scrutiny Jurisdiction
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.
