Income Tax
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Sale consideration received from Vintage Cars was taxable unless assessee proved that car was used as personal asset
Section 194C and 194LA doesn’t apply as TDR certificates issued in lieu of compensation
CIT(A) is bound to decide appeal on merits even in absence of assessee
Dispute of capital gains was remanded to AO as he failed to uphold Principles of Justice
Disallowance of claim of expenditure cannot be basis for levy of penalty u/s. 270A: ITAT Jaipur
Non-Response to Notices cannot justify 40A(2)(b) disallowances: ITAT Mumbai
CIT(A) Cannot Dismiss Appeal for Non-Prosecution: ITAT Bangalore
ITAT Delhi Deletes Credit Card Addition for 80-Year-Old Widow
Lower Deduction Certificate (LDC) under Section 197 – A Practical Guide
Appeals lie with ITAT Surat if AO and CIT(A) orders were passed in Surat
Extra Zero, Extra Tax – Revenue Cannot Profit from Typo or clerical Mistakes
ITAT Mumbai Disallows 50% of Gold Coin Gift Expenses
Cash Deposits Treated as Turnover, Not Black Money – Section 69A Addition Deleted
No TDS Required on Commission, Inspection & Software Payments to Foreign Parties – Entire Addition Deleted
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.
