Income Tax
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Section 144C Can’t Extend Limitation: TP Assessment Quashed as Time-Barred
No Forfeiture, No Tax: Advance Can’t Be Income Under Section 56
No Nexus, No Big Section 14A Hit: Disallowance Slashed to ₹10 Lakh
One Satisfaction Note for Seven Years Invalidates Section 153C: ITAT Pune
Same-Day Cash Withdrawal and Deposit Not Unexplained Income
ITAT Mumbai Quashed Reassessment Notice for Being Issued Beyond Limitation Period
Revenue Appeal Dismissed as No Substantial Question of Law in Transfer Pricing Dispute
FMV Claim Rejected Because No Error Shown in Valuation Methodology
Section 270A Penalty Quashed as Income Was Fully Disclosed but Taxed Under Wrong Head
Licence Fee & Goodwill Payment Allowed as Business Expense Since Not Prohibited by Law
Proviso to Section 2(15) Inapplicable to Solar Energy Promotion Activities: ITAT Delhi
Gross Receipts Taxed Without Expense Deduction: Demand Stayed by Bombay HC
Section 263 Revision Upheld as AO Taxed Only TDS Credit Instead of Undisclosed Commission
PCIT Cannot Invoke Section 263 When AO Took a Plausible View After Verification of Goodwill Claim
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.
