Income Tax
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No Adverse Inference Allowed Without Rejecting Books or Stock Records
Section 143(3) Order Invalid as Assessment Had Abated on Search Date
Corpus Fund Withdrawal Not Taxable When Used for Charitable Objects: ITAT Chennai
Reassessment Beyond 3 Years Upheld as Escapement Exceeded ₹50 Lakh — Cash Deposits u/s 69A
Section 270A Penalty Deleted for Suo Motu Withdrawal of Education Cess Claim
Penalty u/s 271(1)(c) Not Sustainable on Estimated/40(a)(ia)/41(1) Additions: ITAT Agra
Section 43B Relief Granted Because Evidence of Gratuity Payment Was Ignored
ITAT Rajkot Quashes Copy-Paste Appellate Order Citing Wrong AY/Facts
Minor Valuation Difference Cannot Justify Capital Gains Addition: ITAT Surat
Penny Stock LTCG Held Genuine Despite Investigation Reports: ITAT Mumbai
Section 68 Addition Set Aside as Onus of Proof Was Discharged
Section 263 Invoked for TDS Default on Freight: ITAT Patna Upholds Revisionary Order
Vague Penalty Notice Makes Section 271(1)(c) Proceedings Void: ITAT Rajkot
Bogus Purchase Finding Unsustainable Without Proper Evidence Review
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.
