Income Tax
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No Hearing, No Finality: ITAT Restores 69 Addition in Reassessment to AO
Section 68 Addition Cannot Be Taxed Twice, ITAT Directs Netting Off from Business Receipts
Failure to Prove Cash Source Justifies Addition Under Section 69A: ITAT Hyderabad
Buyback through High Court approved scheme needs verification of NAV valuation u/r 11UA: Matter remitted
Section 153(3)(ii) Prevails Over Section 153(2A) in Special Audit Cases: ITAT Lucknow
Provision of future expense allowed as deduction u/s. 37(1) based on matching principle of accountancy
Bhagavad Gita, Vedanta & Yoga Are Philosophical and Not Religious: Madras HC
Ex-parte Enhancement Without Notice Unsustainable: ITAT ITAT Bangalore
CPC Cannot Deny Section 10(23C)(iiiad) Exemption via Section 143(1) Adjustments ITAT Bangalore
ITAT Bangalore: Section 148 Valid, Reassessment Set Aside for Non-Supply of Reasons
Later-Year Depreciation Cannot Be Decided Until Base Year Cost Is Finalised: ITAT Bangalore
Routine Repairs & Maintenance Allowed as Revenue Expense Due to No Enduring Benefit
ITAT Bangalore Allows 80P Deduction on Interest From Co-operative Banks; 307-Day Delay Condoned
153C Time-Barred: ITAT Quashes Assessments Outside Block Period Based on Satisfaction Note Date
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.
