Income Tax
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Investor Funds of Company Cannot Be Taxed as Director’s Personal Unexplained Money u/s 69A
Interest on Borrowed Funds Deductible Against Interest Income: ITAT Mumbai
SC Dismisses Tax Appeal as Developer Status Under Section 80IA Already Settled
Gujarat HC Allowed Section 80IA Deduction as Assessee Held to Be Infrastructure Developer
Retention Money Not Income Until Contract Conditions Are Met: SC
Retention Money Taxable Only After Right to Receive Crystallises: Calcutta HC
No TDS on Stockist Discounts, ESOP Grants & MSME Interest: ITAT Mumbai
ITAT Chennai Allowed TDS Credit in Year of Receipt Due to Cash Accounting System
Old Trust Can’t Be Denied 5-Year Registration Due to Portal Technical Glitch: ITAT Chennai
CSR-Based Donations Eligible for Section 80G Deduction: ITAT Cochin
Income Tax Search Assessment Quashed as 60-Day Limitation Applied After Stay Was Vacated
Karnataka HC Quashed Reassessment for Lack of Jurisdiction Under Faceless Scheme
Mechanical Section 153D Approval Invalid: ITAT Quashes Search Assessments for Multiple Years
Time Limitation for Rectification of TDS/TCS Statements: A Paradigm Shift in Compliance
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.
