Income Tax
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Reassessment Held Invalid Where No Addition Made on Recorded Reasons: ITAT Chennai
12AB and 80G Rejection Quashed for Violating CBDT SOP Mandating 15 Days’ Response Time
Cash Deposits During Demonetisation Cannot Be Treated as Unexplained When Agricultural Source Is Proved
ITAT Mumbai Restores Ex-Parte Reassessment as Capital Gains Were Taxed in Director’s Hands Instead of Company
Reassessment Quashed as Mandatory Seven-Day Notice Was Not Granted
Arbitrary 3% Profit Estimation Struck Down by ITAT Hyderabad
filing of Audit report in form 10B is directory is nature & not mandatory- Delay condoned
Protective addition collapses once substantive tax paid by real owner: ITAT Rajkot
Calcutta HC Stays Income Tax Prosecution Pending Collegium Approval Verification
Prosecution Stay Granted Over Alleged Income Tax Evasion Due to Jurisdictional Challenge
Foreign remittance from disclosed LTCG can’t be treated as unexplained: ITAT Ahmedabad
Telangana HC Quashed Reassessment Notices for Not Following Faceless Procedure
ITAT Chennai Declares Reassessment Notice Invalid for Violating Faceless Scheme
Section 148 notice quashed for not following mandatory faceless procedure
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.
At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.
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.
