Income Tax
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ITAT Bangalore Rejected Estimated Profit as Audited Books Showed Reasonable Margin
DEPB Not Excludable from Gross Profit for Business Income; ITAT Deletes Addition
Income Tax Refund Adjustment Barred When Tax Demand Stayed U/s. 220(6): Calcutta HC
Reassessment Quashed for Lack of Assessee-Specific Evidence in Penny Stock Case
HP HC Stayed Reassessment as Validity of Section 148 Notices Pending Before SC
Accounts Resignations in Remote Location is Genuine reason for ITR Filing Delay: Orissa HC
Objections Filed Before Wrong AO by Mistake Can’t Defeat Right to DRP Adjudication
ITAT Mumbai Sustained Section 271(1)(c) Penalty for Unsubstantiated Expense Claims
Demerger Loss Carry Forward: Sec 72A(4) Applies; PCIT Revision Using Sec 72A(2) Conditions Invalid
Gujarat HC Restricts Bogus Purchase to 6% Following Earlier Year Ruling
ITAT Rajkot Set Aside 80G Approval Denial for Ignoring 5% Religious Spend Limit
Seized Jewellery Must Be Released After Full Tax Settlement: Gujarat HC
Reassessment Order Quashed for Granting Less Than Statutory Time to Reply
Relevant Date for MAT Loss Set-Off Is Prior Year-End, Not Assessment Year-End
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.
