Income Tax
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Addition towards bogus purchases without necessary verification from GST department restored back
CIT(A) order was upheld in allowing depreciation and expenses on retention money and amount spent on club and entrance fees
New GST Rule Links Credit Notes, Bad Debts & ITC
Portal Upload Alone Cannot Replace Due Process – Tax Notice Must Be Served Properly
Mere Technical Breach Not Enough for Penalty Under Section 272A(1)(d)
Rejection of books doesn’t nullify obligation of timely compliance with section 44AB: Penalty upheld
ITAT allows trust to reapply for 12AB & 80G registration, condoned minor delay
ITAT Jodhpur Quashes Double Taxation of Surrendered Income
CIT cannot reject Section 12AB Registration by non speaking & reasoned order
Advance receivables qualify as application of income u/s 11(2): ITAT Chandigarh
ITAT quashes CIT(A) order after CPC rectifies surcharge on dividend from 37% to 15%
ITAT Allows Club Membership Fees, Disallows Food & Beverage Costs at club
ITAT Remands Case After Tax Preparer Updates ITR with higher Income Without Consent
Snack Vendor Cash Deposits Verified; ITAT Deletes Addition as Source proved
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.
