Income Tax
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Interest Income Deduction Denial Reviewed: Section 263 Jurisdiction in Cooperative Societies
ITAT Protects Assessee’s Right to Present Evidence in ₹6.41 Cr Cash Case
Time-Barred Notices Under Section 148 Lead to Quashing of Assessments
Pre-Existence MOU Invalidates Transport Claim: ITAT Upholds Disallowance
Mistaken TAR Upload Costs Assessee – But ITAT Gives Fresh Chance to Prove Facts
AO’s Purchase + Sale Formula Rejected: Reassessment Sent Back for Proper Inquiry
Prospective 2022 Amendment Saves Assessee – 14A Knocked Out No Exempt Income, No 14A
ITAT Rules 148 Notice Void Due to Wrong Authority’s Approval in Reopening After 4 Years
Assessment on Dissolved Firm Upheld for Failure to Explain ₹25 Lakh Cash Deposit
Disallowance Based on Suspicion Rejected: ITAT Allows ₹1.95 Cr Interest Claim
Binding Directions Not Optional: ITAT Pulls Up AO for Ignoring 10A Mandate
Jurisdictional Misfire -Wrong Sanction Sinks Reopening: PCIT Approval Not Enough Beyond 3 Years
Exemption u/s. 10(38) eligible only on LTCG from transfer of equity shares and units of equity oriented mutual funds
Initiation of penalty proceedings u/s. 271(1)(c) without specifying limb is bad-in-law
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.
