Income Tax
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Trade Promotion is Genuine Charity: ITAT Rejects Section 2(15) Proviso on Cost Recovery Reason
54B Exemption Denied Review: CIT(A) Ordered to Examine Revenue Records and Crop Details Reason
PF/ESI Disallowance: Checkmate Ruling Applies Retrospectively, ITAT Confirms Reason
Addition by AO u/s. 143(3) r.w.s. 263 doesn’t survive as order passed u/s. 263 quashed
Matter remanded as evidence proving financial capability of partners for capital contribution produced
Documentary evidences to prove cash deposit due to family settlement to be submitted: Matter restored
Deduction u/s. 35(1)(ii) denied as donation given to trust whose approval got expired
No penalty u/s. 271D in absence of violation of section 269SS
Unexplained credits addition on adhoc basis at 5% cannot be sustained: Matter restored
Condition of investment of corpus donation in prescribed mode u/s. 11(5) effective only from 01.04.2022
New Flat Purchase Date Clarified: Late Stamp Duty Registration Doesn’t Void 54F Reason
Demonetisation Cash? ITAT Says: Genuine Sales, Genuine Stock, No Section 68 Shock
PF/ESI Due Date Relief: ITAT Remands Verification of Employee Contribution Linked to Actual Salary Payment
Jewellery Cash Sales Spike Normal: ITAT Rejects Average Sales Comparison Reason
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.
