Income Tax
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Reassessment Invalid Due to Change of Opinion on Same Facts: ITAT Mumbai
Transition from Form 15G/15H to Consolidated Form 121 for TDS-exempted Incomes
ITAT Mumbai: No Section 56(2)(x) Addition if Difference Within 10%-Tolerance Limit Held Retrospective
ITAT Mumbai: Revised Computation Without Revised Return Allowed to Correct Slump Sale Capital Gains Error
ITAT Mumbai: CSR Donations Eligible for Section 80G Deduction Despite Bar Under Section 37
ITAT Mumbai: No Section 68 Addition Merely Because Shareholder Company Struck Off by ROC
ITAT Mumbai Quashes Reopening: Approval by Wrong Authority u/s 151 Makes Entire Reassessment Void
ITAT Mumbai: No Ad-hoc Disallowance Without Rejecting Books; Section 40(a)(ia) Relief If TDS Paid Before Return Due Date
ITAT Bangalore: Agricultural Income Evidence Cannot Be Ignored; Case Remanded for Fresh Verification
Addition u/s 68 was unsustainable without rebuttal of NBFC genuineness or tracing money trail
ITAT Mumbai: Section 11(5) Shortfall from Earlier Years Cannot Be Taxed; Only Current Year Violation Taxable
ITAT Pune: No Penalty When Mistake Attributable to Tax Consultant – Bona Fide Conduct Accepted
Delay in Filing Form 10DA is Procedural – 80JJAA Deduction Cannot Be Denied: ITAT Pune
ITAT Pune: Interest on Bank Deposits Not Covered by Mutuality; Only Proportionate Expenses Allowed
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.
