Income Tax
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No penalty u/s 271(1)(c) on Legal Heir for failing of AO to verify unexplained bank credits of deceased
Accommodation entry addition upheld as shares purchased in off market mode
Consideration for use of computer software through EULAs/ distribution agreement is not royalty
Cash deposit during demonetization not added u/s. 68 as source duly explained
Cash deposit already added in return cannot be added again by treating it unexplained u/s. 69A
Addition u/s. 69A not sustained as cash deposited out of business proceeds: ITAT Ahmedabad
Illustrative explanation of Block Assessment- Section 158B to 158BI
Illustrative explanation for Changes by Finance Act 2024- Individual taxation
Income Tax Exemption Benefits for Non-Residents in India
Writ against assessment order u/s. 147 dismissed due to availability of alternative remedy
Assessment u/s. 153C vitiated due to absence of proper and valid recording of satisfaction
ITAT Pune Restores ₹28.71 Lakh Cash Deposit Case to CIT(A) for Fresh Hearing
ITAT Ahmedabad Sets Aside Rejection of Trust’s 12AB Registration as ‘Premature’
Exit Option Scheme EOS of State Bank of Travancore Not a Valid VRS Under Rule 2BA
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.
