Income Tax
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ITAT Mumbai Quashes Section 263 Order for Adequate AO Inquiry and Valid Loss Claims
Disallowance of 20% on expenditure payments was justified based on lack of proof and documentation for sub-contractor payments
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No Black Money Liability When Assets Belong to Foreign Partner: ITAT Delhi
ITAT Mumbai Reduces 100% Bogus Purchase Addition to Nominal GP Difference
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Black Money Act Penalty Discretionary, Not Mandatory: ITAT Mumbai
Subsequent SC Ruling Not Grounds for ITAT Rectification: Bombay HC
Delay in 80G Registration Due to Portal Glitches Condoned by ITAT Mumbai
Assessment Based on Nonexistent Case Law Quashed: Bombay HC Warns Against Blind AI Reliance
Madras HC Grants Interim Relief to Charitable Trust in Form 10B Delay Condonation Case
Best Judgment u/s 144 & 8% Profit Estimation in Poultry Case Set Aside for Fresh Hearing
Gifts from Sisters Held Genuine – Section 68 Can’t Tax Natural Love and Affection
ITAT Pune Upholds Additions on Demonetisation Cash & GP Estimation – Liquor Trader’s Appeal Dismissed
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.
At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.
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.
