Income Tax
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Rajasthan HC Quashes Penalty against ITO As Error of Judgment Is Not Misconduct
ITAT Deletes ₹7.77 Crore Section 69 Addition as Fixed Assets Were Recorded in Books
No Section 69 Addition as Complete Money Trail From Overseas Remittances Established
Section 68 Addition Deleted as Revenue Failed to Prove Penny Stock Allegation
ITAT Deletes ₹1.10 Crore Addition as Property Payment Was Directly Made by Father
Section 14A Disallowance Reduced as Only Investments Yielding Exempt Income Can Be Considered
Foreign Tax Credit Cannot Be Rejected as Late Form 67 Filing Does Not Bar Relief: ITAT Surat
ITAT Remands Consultancy Fee Disallowance as Additional Evidence on Service Rendition Was Not Examined
ITAT Delhi Deletes Section 271(1)(c) Penalty as Notice Lacked Specific Charge
Salary Reimbursement Not Taxable as FTS as Seconded Employees Worked Under Indian Employer’s Control
ITAT Sets Aside Section 40A Addition as Share Investment Was Reflected as Capital Asset
Section 80P Deduction Allowed as Bank Deposits Were Security for Business Loans: ITAT Hyderabad
ITAT Remands TP Adjustment Issue as RPT Filter Was Not Properly Verified
ITAT Kolkata Quashes Assessment Order as It Was Served After Limitation Deadline
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.
