Income Tax
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ITAT Sets Aside Ex-Parte Order, Directs Reconsideration by CIT(A)
Additions for unexplained cash deposits u/s 69A and loans made u/s 68 without proper verification was restored back
Non-granting of sufficient time to furnish reply vitiates the entire proceeding
DTAA Gaps: Tax Treatment in Absence of Treaties & Special Provisions for Pakistan
Capital Gain & Trading Income under HUF vs Individual – Tax Treatment
Suggestions for Streamlining Renewal Process under Section 12AB & 80G
Registration of Legal Heir/ Representative Assessee on Income Tax portal
Receipt of payment cannot be qualified as FTS merely because service require technical expertise
Addition merely on basis of available information without independent investigation is unsustainable
Addition based on presumption without concrete evidence cannot be sustained: ITAT Delhi
Section 264: Revisional Authority Can Review Existing Orders, Cannot Direct AO
Land Acquisition Interest is Capital Receipt: Delhi ITAT
Refund of money from earlier advances cannot be added under Section 68
Reassessment u/s. 148 based on suspicion without cogent material is bad-in-law
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.
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