Income Tax
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AIS/Form 10DB Mismatch Rejected as Basis for Taxing Agent on Trading Profits
Notice by JAO After Faceless Scheme Invalid: Chennai ITAT Quashes Reassessment
GSTAT Appeal Filing Explained Due to Mandatory Statement of Facts Limit
DGIT (Inv.) Inputs Alone Can’t Justify Reopening: ITAT
Wrong ITR Column Can’t Deny Trust Exemption: ITAT Kolkata
Entire Purchase Disallowance Rejected; 6% GP Estimation Upheld
No Incriminating Material, No Addition in Section 153A Assessments
GP Rate Refined to 11% in Search-Based Bogus Purchase Case
Section 250(2) Breached: Appeal Restored for Fresh Decision
No Satisfaction Note, No Section 153C Assessment
Reassessment Falls on Threshold Error: Authority Lacked Power
Joint Ownership Below ₹50 Lakh Bars Reopening After Three Years
No OTS, No Write-Back: ARC Haircut Can’t Trigger Section 41(1)
Invalid DVO Reference Cannot Extend Limitation Under Section 153
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.
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