Income Tax
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₹2.81 C TP Addition Deleted as CIT(A) Rightly Accepted PSM Based on Consistency with Earlier Year
LTCG not Triggered Without Registered JDA & Statutory Approvals: ITAT Visakhapatnam
ITAT Remands CIT(A) Order for Non-Speaking Decision on 54/54F & Net Consideration
ITAT Restores Appeal After NFAC Rejected Rectification Due to Portal Visibility Error
Loans Repaid – Section 68 Cannot Apply: ITAT Kolkata
ITAT Orders AO to Examine Additional Section 54B Claim Omitted in Return
Reopening Quashed – Reasons Based on Wrong Facts Mechanical 151 Approval; Rule-27 Legal Ground Allowed
Commission Rationalised to 0.40% on Sales/Purchases & 0.50% on Loans by ITAT Mumbai
Selective Treatment of LTCG vs STCG Rejected: ₹53.24 Lakh Addition Deleted
Ex-Parte CIT(A) Order Set Aside – Advance Rent Reconciliation to Be Examined Afresh
Appeal Restored as Email Mismatch Led to Non-Compliance and Ex-Parte CIT(A) Order
Capital Gains Recomputed Using ₹50,000/Bigha for Co-Owner Consistency
Penny Stock Allegations Rejected: ₹1.25 Cr & ₹1.53 Lakh Additions Deleted
Low Income of Investors Cannot Trigger Section 68 Addition: ₹3.32 Cr Deleted
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.
