Income Tax
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Assessment Void: ITAT Quashes Assessment as ITO Lacked Jurisdiction Above ₹30 Lakh Income Limit
Income Tax Jurisdiction Defect: ACIT Cannot Issue 148 Notice Below ITO’s Prescribed Monetary Limit
143(2) Notice Invalid: ITAT Quashes Assessment Due to Lack of ITO’s Inherent Jurisdiction
No Exempt Income, No 14A Disallowance: ITAT Rejects Addition and Share Capital Challenge
ITAT Bangalore Allows Foreign Tax Credit Despite Delay in Form 67 – Non-filing Along with Return is Only a Technical Lapse
ITAT Kolkata Holds Forex Derivative Loss is NOT Speculative – Allowed as Normal Business Loss
ITAT Kolkata Quashes Assessment for Invalid 143(2) Notice Issued in Wrong Format
Jurisdiction Defect: ITAT Voids Entire Assessment Where 143(2) Notice Ignored CBDT Mandatory Instructions
Section 54 Deduction Allowed If Proceeds Utilized Within 3 Years: ITAT Chennai
Search Assessment Quashed: Why IT Act Section 153A Requires an Actual Search on the Assessee
No Sale, No Gain: ITAT Sends ‘Imaginary Capital Gain’ Back for Fresh Verification
SC Admits Tesco Plea on Service Tax for Overseas Employee Secondment
No Name, No Proof, No Cross-Examination: ITAT Quashes ‘On-Money’ Addition Based on Builder’s Excel Sheet
Bombay HC Admits Appeals on TDS Applicability for Joint Venture Payments
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.
