Income Tax
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Gujarat HC Quashed Section 148 Order for Non-Compliance with 135A Verification
Section 148 Notice by JAO Quashed, Faceless Assessment Applies from Notice Stage
Section 234E Fee on Late TDS Filing is constitutionally valid: Rajasthan HC
Penalty Quashed for Non-Existent Undisclosed Income under Section 271AAB
ITAT quashes 271AAB Penalty as Assessee Not Required to Maintain Books Under 44AA
Section 271AAB Penalty Set Aside for Failure to Establish Undisclosed Income
Documented LTCG on Listed Shares Not ‘Undisclosed Income’ for 271AAB Penalty
Penalty Deleted as Loose Sheet Found to Be Mere Projection, Not Undisclosed Income
Recorded & Verifiable LTCG Share Transactions Cannot Be Treated as Undisclosed Income
Section 271AAB Penalty Not Leviable on Fully Recorded, Documented LTCG
Delay of 1355 Days Not Condoned—Affidavit Found Defective & No Sufficient Cause Shown; Appeal Dismissed
Delay Condoned as Notices Sent to Wrong Email; Assessment & Penalty Matters Remanded
CIT(A) Wrongly Refused Additional Evidence on Technical Ground: Matter Remanded for Fresh Decision
Cash Deposits During Demonetisation Accepted as Genuine Cash Sales; Double Addition Deleted
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.
