Income Tax
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Section 87A Rebate Applicable on capital gains taxed at special rates: ITAT Chennai
VAT input credit shown only in the balance sheet cannot be taxed as income: ITAT Mumbai
Section 271(1)(c) Penalty Invalid Where Income is Determined on Presumptive Basis: ITAT Mumbai
Only 30% Disallowance Permissible Under Amended Section 40(a)(ia) for non deduction of TDS
Genuine Hardship Justifies 338-Day Delay in Form 10 Filing: Bombay HC
Expense Disallowance Reduced to 10% of Turnover Due to High Estimation
Is It Necessary To File Return of Income If There Is No Taxable Income?
PCIT Cannot Order Roving Enquiries Without Proving AO’s View Was Erroneous: ITAT Quashes 263 Order
Asset received for testing purpose not taxable u/s. 28(iv) as there is no benefit on use of such asset
Addition set aside as Percentage of Completion Method on real estate accounting duly followed ICAI guidelines
CIT(A) Ignored Evidence on Record – Non-Speaking Order Set Aside
Beyond the Deadline: Reassessment Quashed Following SC’s Rajeev Bansal Ruling
Section 271AAB Penalty Not Automatic Without Incriminating Material: ITAT Indore
Consolidated Satisfaction Note Invalidates Search Assessment; 153C Proceedings Quashed
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.
