Income Tax
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ITAT Chandigarh: ₹25 Lakh Leave Encashment Limit Held Prospective – PSU Retiree Restricted to ₹3 Lakh Exemption
ITAT Chandigarh Deletes ₹1.12 Cr Addition – Accepts Revised Income Declared in Mining Case
Alumni Association is for benefit of public and not for members only
Deduction u/s. 54F not confined to registered sale deed or possession
No addition u/s. 43CA as difference between sale price and DVO valuation within tolerance band
ITAT Upholds Large Interest Expense Deduction of Rs. 204 Cr for Real Estate Projects
No revision of Voluntarily filed returns was possible through additional evidence under rule 29 of ITAT Rules
Cash found during search verifiable from audited books cannot be added u/s. 69A as unexplained money
Negligence on part of lawyer not sufficient cause to condone delay of 1265 days
Additions Based on Bank Credits Without Verification Unjustified – CIT(A)’s Factual Findings Upheld
No Capital Gains Tax on JDA Execution Until Land Possession Is Handed Over
Section 80IA Deduction Allowed Despite Delay in Filing Audit Report
Reassessment Set Aside for Fresh Hearing – Assessee Can Challenge Validity of Notice u/s 148 in Subsequent Proceedings: ITAT Hyderabad
Cash Payments Not Recorded in Sale Deed Treated as Unexplained Investment – Gifts from Parents Accepted as Genuine -ITAT Hyderabad
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.
