Income Tax
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Condonation of 447-day delay by Income Tax Dept in filing appeal against acquittal was allowed in tax evasion case
Registration u/s. 12A r.w.s 12AB granted as genuineness of activity of trust established
Payment towards bandwidth services cannot be characterized as royalty under India-UAE DTAA
Jurisdictional objection after one month of service of notice u/s. 143(2) is not tenable
No addition u/s. 153A for unabated year be made without incriminating material
Lower of book loss or unabsorbed depreciation to be set off against book profits as per section 115JB
No deemed dividend addition u/s. 2(22)(e) as no loan advanced in current year
Charitable Exemption Upheld: AO Must Accept Valuer Report If DVO Reference Not Made
Section 271B Penalty Automatically Lapses When quantum assessment set aside
Addition u/s. 68 quashed as evidences establishing identity, creditworthiness and genuineness not invalidated
Interest Payable to Partners Is Year-End Liability, Not Restricted to Business Start Date
ITAT Remands Case to CIT(A) After Assessee Agrees to Cooperate
Income Addition Quashed for Exceeding Limited Scrutiny Jurisdiction
No Depreciation on Assets Already Treated as Applied Income: ITAT Directs Fresh Verification
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.
