Income Tax
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Section 153C Notice Invalid for 22-Month Delay in Recording Satisfaction
Reassessment dropped as tax paid on consolidated profit and hence no escapement of income
Presumptive Additions U/s 68 & 69A in Search Cases Quashed
Employee Not Liable for Employer’s Business Expenses
Ex-Parte Dismissal Without Merits Is Legally Unsustainable
No 143(2) Notice Means No Valid Assessment, Rules ITAT
CIT(A) Can Call for Evidence Directly – No Rule 46A Violation
No Liability Written Back, Section 41(1) Can’t Apply
Section 147 Reopening Can’t Be Based Only on Cash Deposit Alerts
NFAC Can’t Dismiss Appeal by Forcing Separate 143(1) Challenge
Cash Gifts From Family Can’t Be Rejected Without Verification
Section 50C Not Applicable to Transfer of Life Interest in Property
Assessment Quashed for Mechanical Approval Under Section 153D
Section 263 Appeal Becomes Infructuous After Nil Demand
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.
