Income Tax
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Business Continuation Test: SC Confirms Temporary Lull Allows Depreciation & Expense Deductions
Reassessment notice is void as issued by Jurisdictional Assessment Officer post Faceless Assessment
Discretionary Trust Taxed at MMR Still Gets Slab Benefit – No Surcharge When Income Below ₹50 Lakh; Full Refund Restored
Section 50C Addition Deleted: AO Cannot Ignore DVO Valuation Once Reference Is Made
Reassessment Notice Issued by Wrong Authority – ITAT Quashes Entire 148 Proceedings Following P&H HC
On-Money Addition Reduced: Photocopy of Agreement Lacks Evidentiary Value for Taxation
ITAT Ahmedabad directs AO to mandatorily refer to DVO when stamp duty value is disputed – Addition u/s 50C set aside
ITAT Quashes Expense Disallowance: AO Must Verify Cost of Improvement with Notices, Not Guesswork
Demonetisation Cash Deposits Accepted: ₹1.11 Crore Addition Deleted Due to Audited Books
Bangalore ITAT Allows Reconsideration of Disallowed Home Loan Interest Deduction
ITAT Quashes PCIT Revision; Cancelled Land Deal Generates No Taxable Income
Reassessment notices cannot be mechanically issued without examining documents
Main Issue Ignored – CIT(A) Skips ₹2.46 Cr Purchase Dispute, ITAT Steps In & Remands for Fresh Decision
ITAT Orders Fresh Adjudication due to non-receipt of notices & personal circumstances
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.
