Income Tax
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Business-Linked Losses: ITAT Confirms Deductibility of Exchange – Difference Derivatives for Exporters
Don’t Add Purchases Based on GST Portal Data Alone: ITAT Remands for Full Reconciliation
No Retrospective Remand: ITAT Scraps CIT(A)’s Order in Bogus LTCG Case for Wrongly Invoking New Law
Reassessment notice u/s. 148 beyond specified limit is time barred
TDS Credit Mismatch: Assessee Right vs Form 26AS
Concept of ‘make available’ vis-à-vis Fee for Technical Services (‘FTS’): An Indian tax perspective
Section 87A Rebate: Harsh Provisions for small taxpayers & passive income earners
Reopening u/s 147 quashed – AO’s “fishing enquiry” to investigate offshore receipts not valid formation of belief- Reassessment void where AO reopens only to verify PE/offshore claims
Revision u/s. 263 not justifiable as AO took most plausible view
Even idle business needs guards – Tribunal permits security expense though no turnover
ITAT Delhi remands ₹16.10 Cr unsecured – loan issue for verification; consequential interest disallowance also to be re-examined – CIT(A) erred in bypassing remand report
Shuttering is a plant, not a temporary erection – 100% claim disallowed – CIT(A)’s liberal view reversed – ITAT restores AO’s 15%
Claim rejected since seized gold already assessed and proceedings concluded in name of husband of petitioner
Tribunal upheld deletion of disallowance u/s 80-IA on amalgamated units and capped sec. 14A disallowance at actual exempt income
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.
