Income Tax
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ITAT Quashes 4 Years of Assessments: Mechanical Sanction and Vague Reasons Vitiate Jurisdiction
Paper Companies, Premium Shares & No Verification – ITAT Sends ₹5 Cr Back for Fresh Scrutiny
No Incriminating Material, No 153A Additions: ITAT Quashes ₹2.71 Cr
Income Tax benefits available to Small Businessmen
ICDS Adjustment Beyond CPC Powers BUT PF/ESI Disallowance Valid in 143(1): Delhi ITAT
When Own Funds Are Huge, Interest Disallowance Fails: ITAT Deletes ₹5.62 Cr Interest
Appeal must be filed before ITAT Bench having jurisdiction over AO
TPO’s 20% Fantasy Margin Rejected – ITAT Removes Wrong Comparables Orders Fresh TP Computation
No Exempt Gain, Only Genuine Loss – ITAT Rejects Penny Stock Allegation Allows ₹26.13L Business Loss
High Margin Giants Out, Wrong Margins Fixed – ITAT Slashes ₹83 Cr TP Hit on Schneider Electric
No Incriminating Material, No 153C: ITAT Quashes ₹32 Cr Share Capital Addition
CCDs Remain Debt Until Conversion – ITAT Quashes NIL ALP, Orders Fresh Benchmarking of Interest
Proof vs. Suspicion: ITAT Overturns 25% Estimated Bogus Purchase Disallowance
ITAT Quashes ₹16.48 Cr TP Adjustment on Negative Lien vs. Guarantee
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.
