Income Tax
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Activity of hostel/mess being part of main activity eligible for 15% standard exemption u/s. 11(1)(a)
Section 263 Revision Not Valid When AO Allows 32AC Deduction after enquiry
Rebuttable Presumption under Section 292C Cannot Be Applied Mechanically: ITAT Delhi
Share application money received in prior years cannot be added in current assessment year
ITAT Ahmedabad Remands Case for Proper Adjudication of URD Cash Transactions
ITAT Delhi Allows Dunnage Expense as Revenue Expenditure, Not Capital
Revision u/s. 263 quashed as object advancement of general public utility held as charitable purpose
Madras HC Sets Aside Income Tax Assessment for Lack of Hearing
Valuer’s Report Ignored: ITAT Sends Case Back for Fair Market Re-Computation
ITAT Mumbai Deletes ₹4.11 Crore Section 14A Disallowance Against Aishwarya Rai
No Coercive Recovery During Pendency of Appeal in Reassessment Case: Madras HC
Debatable Issues No Basis for Penalty Under Section 271(1)(c): ITAT Mumbai
ITAT Orders 8% Presumptive Income for Unsubstantiated Transport Claims
Delay in filing audited report due yo auditor’s mistake cannot invalidate exemption u/s. 11 and 12
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.
At Taxguru, we give a cohesive understanding off all income tax related circulars. We keep updating all the circulars as and when issued by the income tax department. You could view online or you can download all the latest news on Income Tax and circulars free of cost.
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.
