Income Tax
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No disallowance u/s. 40(a)(ia) when tax on income already paid by deductee: ITAT Pune
Rectification Order raising an additional demand was declared invalid as it was passed after Vivad Se Vishwas Settlement
Depreciation u/s 32 was allowable on actual cost of assets taken over from dissolved firm
Exemption u/s 54F was allowable even though balance payment of consideration for purchase of residential house was made by third-Party
No incidence of tax invokable without transfer: Delhi HC
Date of original assessment order considered for limitation period for revisionary proceeding u/s. 263
Non-granting seven days for furnishing reply is violative of SOP hence notice quashed
Action u/s. 147 not justified when material found during search of another person is sole basis for reopening
DTAA Exemption cannot be denied for non-availability of TRC: ITAT Hyderabad
ITAT Mumbai: Mere Possibility of Expenditure Outside India Not a Bar to Section 12AB Registration
Debt Mutual Funds: Taxation & Reporting In ITR-2
ITAT-Cuttack: Unregistered Trust—Only Net Income is to Be Taxed
Delving Into Tax Havens: Impact on Society & Strategies For Reforms
ITAT Pune Condones 400-Day delay Due to Consultant’s Lapse
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.
