Income Tax
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ITAT Sets Aside Post-April 2021 Reassessment Notice as Invalid Under TOLA
Corpus contributions cannot be grounds to deny section 12AA registration: ITAT Delhi
Income Tax Refund Cannot Be Withheld Without Valid Tax Demand: Calcutta HC
Locker Cash Treated as Unexplained Income Despite Business Claims
Minor religious expenditures do not negate predominant charitable activities
Mere Absence of Directors at AO Summons Does Not Invalidate Share Premium: Calcutta HC
Addition based on documents found from third party without granting cross-examination is not sustainable
Income Tax Settlement Application Rejection Doesn’t Block Merit-Based Assessment Challenge: SC
Income Tax Appeal Remanded Due to Lack of Reasoned Order by CIT(A)
ITAT Delhi quashes reassessment Due to Unsigned Section 151 Approval
Bank Interest Held Eligible for 80P Relief Due to Absence of Jurisdictional HC Ruling
ITAT Delhi deletes Protective Additions Due to Absence of Substantive Assessment
Section 54F Deduction Denied Due to Lack of Proof of Property Ownership
Protective Additions Must Be Evidence-Backed: ITAT Deletes Foreign Account Claim
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.
