Income Tax
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CPC Cannot Override High Court Law: ITAT Deletes PF & ESIC Additions
Ad-Hoc Addition Deleted for Lack of Defects: ITAT Rejects ₹50 Lakh Estimate
When Professional Negligence Meets Harsh Limitation – ITAT Steps In to Protect Assessee
ITAT Orders Re-Examination of FTC Denial Due to Form 67 Mistake
Double Taxation Prevented: Tribunal Deletes Addition as Cash Sales Already Recorded
Consistent Withdrawal Pattern Valid Source – Section 69A & 115BBE Addition Deleted
Commission-Based Business Proven: Tribunal Rejects Section 44AD and Upholds 5% Profit Rate
₹3.32 Cr 69A Addition Remanded as Legal Grounds Not Examined
ITAT Confirms Banks Exempt from MAT, Deletes ₹305.49 Cr Penalty
ITAT Cuts Additions from Rs.13.91 Lakh to Rs.1.39 Lakh Using 10% Estimate
Section 271(1)(c) Penalty Deleted as Additions Based Only on Differing Interpretation
Tribunal Restores Section 12A Exemption Despite CPC’s Technical Objection
Amount paid before due date of return not supposed to be disallowed under section 43B
Delay Condoned Due to non-receipt of communication & Case Remanded for Fresh Hearing
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.
