Income Tax
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Section 68 Share Premium Addition Remitted as Evidence Was Not Examined
Disallowance Cut to 5% Since AO Failed to Prove Entire Sales Were Unexplained
Delhi HC Refuses Stay Interference Due to Delay and Non-Compliance
Remand Ordered Since AO Adopted U/s 143(1) Figures Without Addressing Disallowances
ITAT Again Follows Its Own Precedents: Qualcomm Royalty from Foreign OEMs Not Taxable in India
Section 10(23C)(iiiab) Rejected for Lack of Educational Activity and Government Funding
ITAT Rejects Bogus Debtors Theory: Rs. 65.19 Lakh Addition Deleted for Lack of Evidence
ITAT Deletes Section 69 Additions Over Unsupported On-Money Claims
SC Affirms Addition After Assessee Fails to Prove Bank Liabilities as Genuine
Deduction Denied for Non-Lending Income: Supreme Court Restricts Section 36(1)(viii) to First-Degree Lending Profits
Section 54 Deduction Upheld for Pre-Amendment Foreign Property Purchase
Charitable Trust Registration Remanded After ITAT Finds Evidence Ignored
Donations Linked to Milk Supply Not Corpus; Section 11(1)(d) Exemption Denied
Section 158BD Assessment Valid for Wife Based on Diary Seized from Husband’s Premises
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.
