Income Tax
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Old Trade Payables Cannot Be Taxed Again Under Section 68: ITAT Chennai
Surplus from Trade Fairs Not Commercial: ITAT Restores Charitable Registration
Doctor’s Family Gift Claim Rejected: ITAT Upholds ₹69.5 Lakh LIC Investment Addition
High Court’s Admission of PE Dispute Shows Issue Debatable – ITAT Cancels Penalty
Sporadic Land Sales After 22 Years Held as Capital Gains, Not Business Income: ITAT Chennai
Retirement Benefits & Household Savings Explain Cash Deposits, No Scope for 69A Addition
Disallowance u/s. 14A deleted since sufficient own funds available to cover investment
Execution of Joint Development Agreement doesn’t constitute transfer of capital asset
Order passed by AO in old PAN cannot be survived if transactions already reported in new PAN
Income from production of hybrid seeds under supervision of company is exempt u/s. 10(1)
Addition towards bogus LTCG merely based on presumption without corroborative evidence cannot be sustained
Disallowance to be made u/s. 37 and not u/s. 69C when genuineness of expense doubted
Delay of 16 days in EPF deposit was allowable u/s 36(1)(va) as same was attributable due to COVID-19 Lockdown
Addition u/s. 68 upheld as money trail establishes circulation of unaccounted funds through shell company
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.
