Income Tax
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Bad Debt Write-Off Not an ‘Incorrect Claim’ for Section 143(1) Adjustment
Chronic Delay Condoned with Cost: Appeals Revived & Remanded for Decision on Merits
Presumptive Taxation Applied Because Business Receipts Can’t Be Fully Treated as Unexplained
Cash Deposits Can’t Be Treated as Unexplained Without Rejecting Books
893-Day Delay Condoned; Cash Deposits Can’t Be Split Arbitrarily – Profit Estimated at 6%
Addition Remanded Due to Lack of Proper Opportunity
Reopening Quashed Due to Total Non-Application of Mind
Interest on Enhanced Land Acquisition Compensation Taxable u/s 56(2)(viii)
Bogus LTCG Allegation Fails: Insight Portal Input Alone Can’t Justify Reopening or Addition
₹18 Crore Unsecured Loan & Purchase Addition Set Aside for Lack of Proper Inquiry
Partner’s Capital Introduction Cannot Be Taxed in Firm’s Hands – Section 68 Addition Deleted
No Automatic TDS Liability on EDC Payments Without Proper Fact Finding
Section 153C Addition Quashed for No Incriminating Material Found
PCIT Cannot Invoke Section 263 for Mere Technical Lapse
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.
