Income Tax
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Deduction Calculation Basis: HC Clarifies 5% Fee Applies to Actual Receipts, Not Gross Bills
Search Assessments u/s 153A was quashed as mechanical and composite approval u/s 153D amounted to non-compliance
CIT(A) Cannot Dismiss Appeals in Limine Without Deciding Merits: ITAT Hyderabad
Don’t Reject Charitable Registration for Technical Errors: ITAT Agra
ITAT Ahmedabad Allows Depreciation on Amalgamation Goodwill for AY 2016-17
ITAT Pune Allows Foreign Investment Loss as Business Loss, Not Capital Loss
Additions cannot be sustained solely on untested third-party WhatsApp data
Mere Suspicion Not Enough: ITAT quashed ₹9.37 crore addition for Cash Jewellery Sales
Statement Can’t Override Accounting Law – ITAT Says PCM Prevails
Give Me 7 Days or Give It Up: Karnataka HC Quashes Reassessment for Short Notice
Faceless Reassessments Must Stay Faceless: Karnataka HC quashes AO Issued Notices
AO, please don’t show your face — Faceless Assessment means faceless: Karnataka HC
Substantial Justice Precedes Technicality: ITAT Condon Delay for Assessee Facing Director Fraud Issues
Section 50C/56 10% Property Valuation Tolerance Applies Retrospectively: ITAT Agra
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.
