Income Tax
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ITAT Upholds 40A(3) Despite Genuine Purchases- Cash Payments on Working Days Hit by 40A(3)
TDS Credit on Part Payment Allowed Despite Prior Taxation
Late filing of audit report doesn’t disentitle trust from benefit of exemption u/s. 11
Appeal Against Section 143(1) Intimation Not Barred by Regular Assessment
ITAT Delhi Cuts Bogus Purchase Addition to 15% & Upholds 153C Jurisdiction
Unaccounted commission addition without corroborative evidence is not sustainable
Revenue’s Capital Gain Estimation Deleted for Ignoring Co-Owners’ Accepted Costs
Security deposit is actually sale consideration and is merely used as devise to postpone tax liability
Delay in filing cross-objection condoned and Tribunal directed to hear cross-objection
Cash Loan Fully Explained, ₹10 Lakh Addition Deleted by ITAT
Tribunal Restores Full TDS Credit of ₹37 Lakh to Employee
ITAT Partly Allows Appeal on Section 36(1)(va) Expenses
No 143(2) Needed in Search Cases; NP Rate Recast & Loan Issue Partly Restored
Unverified Third-Party Evidence Cannot Support Tax Additions, ITAT Rules
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.
