Income Tax
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Section 54 Deduction Allowed If Proceeds Utilized Within 3 Years: ITAT Chennai
Search Assessment Quashed: Why IT Act Section 153A Requires an Actual Search on the Assessee
No Sale, No Gain: ITAT Sends ‘Imaginary Capital Gain’ Back for Fresh Verification
SC Admits Tesco Plea on Service Tax for Overseas Employee Secondment
No Name, No Proof, No Cross-Examination: ITAT Quashes ‘On-Money’ Addition Based on Builder’s Excel Sheet
Bombay HC Admits Appeals on TDS Applicability for Joint Venture Payments
Income from Vessel Operations Taxable Under India-Norway DTAA: ITAT Delhi
Rule 8D Cannot Be Mechanical: Only Net Interest & Income-Yielding Investments Count, Says ITAT
Net Interest Income Bars Section 14A & 36(1)(iii) Disallowance: ITAT Mumbai
Section 154 Rectification on ESI/PF Deduction Not Permissible: ITAT Delhi
Section 153D Approval Mandatory: Delhi ITAT Invalidates Assessment Over Missing Record
Non-Speculative F&O Losses Allowed to Set Off Against Capital Gains
ITAT Deletes Addition on Alleged Shell Company Funds as AO Failed to Prove Transaction
Delhi HC Allows Partial Payment to Lift Freeze on 13 Bank A/cs in Income Tax Matter
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.
