The income tax act defines Income tax and laws related to income tax. It covers income tax levy, collection, administration, and recovery. Income tax acts and income tax laws get changed/updated from time to time. Read our Latest News and Updated on the Income-tax act and Articles on the income tax act to understand the income tax act and its sections. Read our articles to understand income tax act section 10, income tax act section 24, income tax act section 54, income tax act section 80c, income tax act 44ad, income tax bare act, etc.
Income Tax : Understand the implications of receiving a notice under Section 143(2) of the Income Tax Act. Learn how to respond, time limits, a...
Income Tax : Learn about the consequences of filing your ITR incorrectly and claiming a full refund. Understand Section 133(6) of the Income Ta...
Income Tax : Learn about income tax rules for Indian Army personnel: exemptions, ITR filing requirements, salary details, and benefits. Explore...
Income Tax : Discover Section 194R introduced by the Finance Act 2022, detailing TDS requirements on benefits or perquisites provided to reside...
Income Tax : Discover everything about Income Tax Deduction under Section 80C - eligibility, qualifying investments, maximum deduction, and mor...
Goods and Services Tax : CBI arrests a CGST Superintendent for accepting a bribe of Rs. 10,000, while designated courts in Ahmedabad and Madurai sentence f...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : Explore the challenges faced by Karnataka State Chartered Accountants Association (R) in processing updated returns under Section ...
Income Tax : Chamber of Tax Consultants seeks an extension for filing Form 10B and Form 10BB while requesting relaxation of requirements. Detai...
Income Tax : Income Tax Department conducts searches on two real estate groups of Bengaluru and Hyderabad Income Tax Department carried out sea...
Income Tax : Section 54 deduction was allowable on cash transactions involving residential property as it was ensured that genuine investments ...
Income Tax : Read ITAT Kolkata's full text order on Sachdev Steel Pvt. Ltd. Vs ITO. Learn why old loans converted into share allotment were dee...
Corporate Law : Read the detailed analysis of Orissa High Court's decision to revise compensation under Section 44-AE of Income Tax Act in a motor...
Income Tax : ITAT Jaipur rules that AO's non-addition of bogus LTCG does not make the order automatically erroneous. Detailed analysis of Vipul...
Income Tax : ITAT Delhi quashes reassessment proceedings against Chaudhary Stone Crusher, ruling on sale of partners property before IT notice ...
Income Tax : Facing a delayed income tax refund for AY 2021-22 due to technical issues? The CBDT offers relief! Electronically filed returns wi...
Income Tax : Explore the latest Income Tax Notification No.11/2024 regarding Punjab State Faculty of Ayurvedic and Unani Systems of Medicine. L...
Income Tax : Explore the details of Notification No.10/2024 by the Ministry of Finance, providing income tax exemption to Chennai Metropolitan ...
Income Tax : Explore the latest Income Tax Notification (No. 9/2024) dated January 5, 2024. Details on Polavaram Project Authority's specified ...
Income Tax : Explore the impact of Notification No. 8/2024 by the Ministry of Finance on Haryana State Board of Technical Education's specified...
In a case between Salem Urban Co-op Bank Ltd. and the Income Tax Officer, Madras High Court allows appeal, permitting waiver of 10% pre-deposit amid financial hardship.
ITAT Mumbai held that the date of the agreement by no stretch of imagination could be the date of sale of the shares by the assessee. As date of contract of sale would be date of fulfilment of conditions specified in share purchase agreement, date of contract will be treated as date of transfer.
Explore Section 43B(h) of Income Tax Act, its applicability to Micro and Small enterprises, conditions for deduction, tax audit reporting, and practical implications. Learn how to navigate deductions effectively.
ITAT Chennai held that transfer pricing adjustment towards brand development services unjustified in absence of contract amongst the assessee and its associated enterprises. Accordingly, AO directed to delete addition made towards brand fee adjustment.
In the absence of “reason to believe” recorded by the authorities, revenue authorities had hopelessly failed to bring out to recordthat the goods (here Arecanuts) imported from outside the country was without valid customs clearance.
Mumbai ITAT allows depreciation on ‘right to collect toll tax’ on infrastructure facilities for Roadstar Investment vs ACIT. Detailed analysis and implications provided.
In a landmark ruling, the Calcutta High Court exempts tea saplings from Bengal Agricultural Income Tax Act. Learn the detailed analysis of Gouranga Parbati Tea Co. Pvt. Ltd. Vs. Agricultural Income Tax Officer & Ors.
ITAT Delhi held that as non-renewal doesn’t amount to termination, accordingly, receipt of compensation on account of non-renewal of contract cannot be taxed under section 28(ii)(e) of the Income Tax Act.
ITAT Bangalore held that addition under section 69 of the Income Tax Act unjustified as source of fund duly explained. Rejection of the explanation relating to source of fund by the department without sufficient reason is unsustainable in law.
Kerala High Court rules that personal hearing is mandatory before passing an order under Section 148A(d) of the Income Tax Act.
