Income Tax
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Changing Tax Landscape of Buybacks in India
ITAT Chennai Allows Agricultural Income Claim Despite No Receipts
Exemption u/s. 11/12 granted based on proviso to section 12A(2)
Only Profit on Bogus Purchases Taxable – Full Disallowance Unjustified: ITAT Mumbai
Gains from legal transaction emanating from illegal act would be construed as proceeds of crime
Mechanical Approval Under Repealed Section Invalidates Reopening: ITAT Delhi
Transfer Pricing: Large Turnover Companies Not Comparable to Captive Units: ITAT Bangalore
Bogus Purchase: ITAT Quashes 271(1)(c) Penalty as Specific Limb not Mentioned
Extrapolation cannot be done to assume income without any cogent material
CBDT Grants Section 35 Research Approval to Hari Shankar Singhania Elastomer & Tyre Research Institute
Income Disclosure Does Not Prevent Benami Proceedings: Kerala HC
Addition of ₹5.48 Lakh brokerage income was upheld and seized records reflected mock trading which was not unexplained income
Denial of exemption u/s 10(34) and 10(35) for dividend and mutual fund income by invoking Sections 13(1)(d) and 13(2)(h) was unjustified
ITAT Delhi Remands ₹61 Lakh Property Addition – Additional Evidence Admitted Under Rule 29
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.
