Income Tax
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Section 153C Six-Year Block Runs From Satisfaction Note Date
388-Day Delay Condoned; Case Remanded for Fresh Hearing
Wrong Officer Issuing Section 143(2) Voids Entire Assessment
No Real Transfer, No Automatic U/s 50C Tax on Property Transaction
Initial Onus Discharged, ₹71.23 Lakh Section 69A Burden Shifts to Revenue
Additions based on BUP IDs, internal identifiers and presumptive opening deposits are not sustainable
Documented Demat and Exchange Trades Defeat Section 68 Addition
Reassessment u/s. 148 quashed as based on same material which was accepted by AO in earlier proceeding
Closing Stock Cannot Be Valued at Nil Because Suspension Is Not Seizure
Section 153A Mandated When Assessee’s Premises Are Searched
Access to Licensed Software Isn’t Royalty Because Only a Copyrighted Article Is Used
Charity Registration Denial Set Aside Due to Procedural Error, Not Merits
DRT Auction Purchase Still Benami When Loan Source Is Unexplained
Reassessment Quashed for Escaped Income Below ₹50 Lakh Threshold
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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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.
