Income Tax
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Deduction Allowed as Interest from Co-operative Bank Qualifies Under Section 80P(2)(d)
Income Tax Rectification Order Quashed for Missing DIN & Limitation Breach
Stay Application Rejected Without Reasons Set Aside as Non-Speaking Order by Bombay HC
ITAT Mumbai denied Rectification as Later SC Ruling Not a ‘Mistake Apparent’
Cooperative Bank Interest Income Eligible for Section 80P(2)(d) Deduction
CSR Donations Eligible for Section 80G Deduction Despite Section 37 Disallowance
AO Cannot Reopen Assessment Based Only on Investigation Inputs
Indexation Benefit Directed as CIT(A) Omitted Mandatory Section 48 Relief
CSR Donations Allowed Under Section 80G Despite Business Disallowance
Director Liable for Unexplained Credits Despite Transfer to Company: ITAT Ahmedabad
Post-Search Flat Booking Cannot Trigger On-Money Tax Addition: ITAT Ahmedabad
Interest on Unused Commercial Property Not Business Expense, but Allowable u/s 24(b): Jaipur ITAT
Gross Interest Can’t Be Taxed Ignoring Interest Cost: Ahmedabad ITAT
Ex-Parte Assessment Set Aside with Costs, Cash Deposit Case Remanded
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.
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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.
