Income Tax
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5% Profit Rate Upheld on Unaccounted Helmet Sales; Revenue Appeal Dismissed
Nigeria, Hong Kong & “Source of Source” Additions Deleted u/ss 40(a)(i), 37 & 68: ITAT Chandigarh
Only 14 Days Left-38-Day Delay Quashed U/s 148 Notice & ₹22.72-Lakh Addition U/s 69
₹165-Crore Section 80P Deduction Cannot Be Denied on Unidentified Members: ITAT Jodhpur)
5% Commission Formula Insufficient: Political Donation Allowed u/s 80GGC, Section 69A Addition Deleted
ITAT Remands Reassessment, Donation & Cash Deposit Issues for Speaking Order U/s 250(6)
Reassessment Without Live Nexus or Reason to Believe Quashed: Bombay HC
Excess TDS Refund Cannot Be Denied in Section 148 Return: ITAT Delhi
ITAT Deletes Section 69A Addition, Allows Section 10(38) LTCG Despite Penny-Stock Suspicion
₹40 Lakh Bank Loan Repaid Same Year: Section 68 Addition Deleted
Unverified ITR-V for 5½ Years Attracts Penalty u/s 272A(2)(e): ITAT Chandigarh
Kirana Cash Deposits During Demonetisation Not Unexplained u/ss 68 & 69A: ITAT Chandigarh
Seven Clear Days Mandatory-AO’s Five-Day Notice Invalid u/s 148A(b): ITAT Raipur
Revenue’s 15-Ground Appeal Fails as ITAT Upholds Consistency on Tax and Transfer Pricing Issues
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.
