Income Tax
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No Section 270A Penalty for Bona Fide Inadvertent Section 35D Claim: ITAT Bangalore
Pune ITAT Remands Agricultural Income Addition for Verification After Land Records Produced
Section 292A Bars Probation for Income Tax Offences: Allahabad HC
Revised Return Doesn’t Bar Capital Loss Carry Forward if Original Return Was Timely: ITAT Bangalore
Section 148A Proceedings Invalid for Failure to Supply Information & Material: ITAT Kolkata
Schedule FA Reporting for Foreign Stocks: Common Compliance Challenges
ITAT Quashes Section 270A Penalty for Failure to Specify Misreporting Clause
ITAT Deletes Section 270A Penalty for Estimated Section 80P Disallowance
ITAT Deletes Section 270A Penalty for Estimated Income Accepted in Assessment
ITAT Deletes Section 270A Penalty on Section 14A Disallowance
ITAT Deletes Section 270A Penalty Where Leave Encashment Claim Was Bona Fide
ITAT Quashes Section 270A Penalty on Debatable Leave Encashment Claim
ITAT Deletes Section 68 Addition on Share Sale Proceeds, Taxes Only Profit Element
SC Dismisses Revenue SLP on Section 68 Addition & Licence Fee Dispute
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.
