Income Tax
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Demonetisation Cash Deposit Accepted for Petrol Pump Sales: Why ₹1.53 Cr Addition was Deleted
One Omnibus 153D Approval for Multiple Years Assessees Is Illegal – ITAT Strikes Down Entire Block of Assessments
Loan Between Companies- Both Conditions Must Apply! ITAT Clarifies 2(22)(e) & Grants Relief
Right to DVO Valuation Ignored – ITAT Sends Case Back for DVO Valuation
Police Canteen Wins – ₹32 Cr Activity Still Not ‘Business’- No Tax Audit Needed Under Mutuality Principle
Sec 270A Penalty Invalidated: AO Failed to Specify Misreporting Clause
Unexplained Investment U/S 69A: ITAT Remands Plot Purchase Addition for Factual Verification
TDR Sale Bank Credits: ITAT Rejects Books, Applies 12% Profit Rate
Bogus Entry Addition Deleted: ITAT Voids ₹78 Lakh Addition U/S 68 Due to Genuineness Established in Precedent Cases
Department Knew the Assessee Was Dead – Still Issued Notice! Tribunal Strikes Down Reopening
One House, One 54 Claim: ITAT Quashes 263 Revision on Floor-Wise Sale of Residential Property
Notice Issued but Explanation Ignored – ITAT Sends 263 Back to PCIT- Speaking Order Mandatory
Share Valuation Already Verified- Once AO Examines Accepts, 263 Cannot Reopen
Cash Deposits Accepted as Sales: ITAT Quashes Full Section 69A Addition on Acceptance of 44AD Presumptive Income
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.
