Income Tax
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Notional Interest Addition Deleted Due to Absence of Fresh Advances & Sufficient Funds
Section 148 Notice Invalid When Issued After Limitation Deadline: ITAT Mumbai
Assessment Order Quashed Due to Issuance in Name of Non-Existent Amalgamated Entity
Section 68 Addition Upheld for Failure to Prove Genuineness of Advance: ITAT Delhi
Section 263 Revision Quashed Due to Pending Appeal on Same Issue Before CIT(A)
TDS not applicable on payments for imported Business Information Reports: SC
Payments for Business Information Reports did not attract Section 195 TDS: Bombay HC
SC Upholds Quashing of Reopening Tax Notice Due to IBC Clean Slate Doctrine
Reassessment Notice Quashed Due to Extinguishment of Tax Liabilities Under Approved Resolution Plan
Reassessment Notice Invalid Due to Absence of PCCIT Approval Beyond Three Years
Section 271(1)(c) Penalty Deleted Due to Pending HC Decision on Section 10(26BBB) Exemption Claim
Section 80P Deduction Claim Restored for Failure to Examine Assessee’s Legal Status & Activities
ITAT Upholds Addition as Cash Hoarding Explanation Failed Human Probability Test
No TDS Default on LFC Payment as Bank Followed Binding HC Interim Orders
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.
