Income Tax
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Cumulative Monthly Advances, Not Incremental Figures, Govern Section 36(1)(viia) Deduction
Post condoning delay, revisional authority wrongly dismissed petition u/s. 264 on ground of delay
Draft Assessment Issued in Name of Amalgamated Company Held Void Ab Initio
SC Dismisses Revenue Appeal as Assessments Time-Barred Due to Delay After ITAT Remand
Reassessment Upheld Due to No Prior Examination of Section 80HHC Deduction Claim
Reassessment Quashed for Failure to Verify Bank Statement on ₹50 Lakh Threshold
Bombay HC Set Aside Jewellery Release Rejection for Lack of Jurisdiction
Foreign Exchange Loss Allowed as Not Notional Under Mercantile Accounting
Section 80JJAA Deduction Cannot Be Fully Denied for Partial 240-Day Non-Compliance
Capital Gains Taxable Despite Gram Panchayat Certificate When Land Is Within 8 km of Municipality
Reassessment Quashed as Deduction Under Section 80P(2)(d) Was Legally Allowable
Reassessment Quashed for Borrowed Satisfaction in Alleged Accommodation Entry Case
Rubber Replantation & Upkeep Costs Held Revenue Expenditure After Full Bench Ruling
Simultaneous Section 80IA & 80HHC Deductions Allowed Subject to 100% Cap: Madras HC
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.
