Income Tax
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Addition u/s. 68 towards unexplained cash credit not justified as cash sales already accepted as genuine
Buyer’s intention irrelevant – ITAT upholds Agricultural nature of land
Tribunal to Assessee: No new claims in 147 or Section 154 proceedings
Pre-search records not ‘incriminating’, No addition u/s 153A without incriminating material found during search: Karnataka HC
Wrong Income Tax Section Code Not Fatal to Section 80G Claim: ITAT Pune
Extrapolation of wages restricted to evidences found during survey: ITAT Chandigarh
Cash from Business Sales, Not Unexplained – Demonetisation Cash Addition deleted
NFAC Cannot Dismiss Appeal Without Deciding Merits – ITAT Sets Aside Ex-Parte Order
ITAT Indore Remands Best Judgment Case to AO Due to Rejection of Additional Evidence
Concessional tax benefit u/s. 115BAB denied due to belated filing of Form 10ID
Receipt from surrender of Life Insurance Policy cannot be added u/s. 68 as unexplained money
Consolidated satisfaction note u/s. 153C for different assessment year vitiates entire proceedings
Loan from Trustees Not Valid Reason to Deny Section 12AB Registration: ITAT Pune
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.
